I've been lurking around the forums for awhile, trying to gather as much info as possible to help myself get out of payday loan debt. With all of the inspiring posts I've read here, as well as the helpful links, letters, and information posted, I've started the process to get everything taken care of.
Last night I started sending out letters via email, with the intent to fax them as well today. The Loan Shop has already agreed to give me a PIF! I know it's only one, and I have quite a few more, but this was just the incentive I need to keep going. :)
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.