I have got myself into a payday loan frenzy. Believe me I know how they work...I have had pdls for many years. This is the first year that I have fallen into too many. I have 4 loans out. They are taking a total of $560 out a month...I can not afford this...I do not have that big of an income. I have been late on my rent..put off paying my phone bill etc. you can see what has happened. I recently went into a debt consolidation plan (which has been very good) for my credit card debt. It is working...so now that my credit cards are not available...I can't get cash to pay my pdl's weekly. My biggest fear is the constant harrassment when I close my bank account...any advice would be appreciated. I don't know what to do...thank-you!
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.