I am a freelance writer in Louisiana. I received a $400.00 payday loan, in which a $120.00 fee is charged every 2 weeks that it is not paid back in full. I was only aware of a $30.00 fee per $100.00 borrowed. I had no idea it would be reoccurring!
American Web Loan is an internet lender who never ask me for ID or called to verify anything either. I would have ask more questions if they had, and I would have most definitely passed the offer with such ludicrous fees attached. I am a single Mother picking up work online when I can. I needed a reasonable pay scale, not something that was made impossible to repay through unreasonable terms. I do not want to go to jail either. I tried calling them and they stuck to the pay 120 biweekly to extend and anything over is being applied to the actual loan. WHAT CAN I DO? WHAT HAPPENS IF I CAN NOT REPAY IT? :(
By signing up for 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 pay off 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.