Any advice on responding? I had 2 loans totaling $1600, paid over $2100.
Thank you for your recent correspondence. We have reviewed your account and find that there is a misunderstanding regarding our ability to lend to residents of your state. Please refer to the opening paragraphs of your Loan Agreement for further explanation. We have attached a copy for your review. Your account is currently in our Recovery Department with a balance of $5,490. You may contact our Recovery Department to assist you in making your payment arrangements. Please keep in mind, without a resolution with our Recovery Department; your account may be sold to a 3rd Party Debt Collection Agency. Our Recovery Department is available during our regular office hours 7:00a.m. To 3:30p.m. CST, Monday through Friday at 1.877.636.1353, Option 3.
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.