I live in Texas. I have more than once used MypayLoan.com and paid them off their high intrest. I recently received $600. I have paid them $300 in interest so far. The balance is $750. I have another online loan with Thinkcash.com. I pay them $88.77 every two weeks and have 10 payments left with them. It was a $500 loan and the interest is almost double. I have only made 2 payments with them. This is my second time to use them. Do I start off by sending them letters not to process payment or do I close my acct? What are the proper steps to take? Please help me!
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.