I live in NJ and from what i understand that the payday loans are prohibited. I have several loans out and are dealing with a few companies for settlements right now. My question is i took out a loan from paydaymax.com for 300 i paid 325 just in fees and extenstions (so they say). Now they claim i owe them 700 more dollars and are now calling my refrences to get info on me. i do have complaints in with the ag and bbb but not yet heard anything. Can someone help with this.
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.