What is the situation with "tribal" lenders - I know there are several. The one I'm beginning to deal with is Redstone. I'm in CA and as far as I can tell they are not licensed in my state. I understand they claim immunity from state laws. I stopped an ACH transfer to them today and will be sending them a letter (they are impossible to reach by email) but I know the phone calls will start coming from them next week. What is the best of course of action in dealing with them?
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.