Hello, I live in Texas and took out a 800 loan with SpotLoan. I paid 495 in February. I called today to work out a paym plan and they refused to work with me. The payment plan basically made my payment to be $2111.89. They said, I can just put a hold on my account but it will just keep accurring interest. I said I had to return the call. The contract, clearly states 3 payments of 495 so they lady pushing it out to 9 months with interest.... anyways, I don’t know what to do? I am at loss. Please advise....
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.