Ok so I have entered a debt management program with my local CCCS office. I was over extened with payday loans and medical bills. I now have a plan and should be out of this hell in one year. These PDL's are evil. I live in SD - and we don't have limits on the intrest rate so you can about image what some of the store front's charge. So my question is that I have been reading that CTC is not legeal anywhere, but what do I send them to tell them that??...so I only pay the original $400?
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.