I live in Indiana and have 6 payday loans outstanding. I have closed my account and put a hold on ACH debits. All 6 are not licensed in Indiana.
I am sending letters to revoke ACH and wage access.
All together I owe around $759 in principle. A couple of the lenders I have had loans before and paid lots of fees that I didn't need to.
My question is should I go through a debt consolidation agency or rep to repay this? I am afraid I will get so overwhelmed by trying to pay a little to each every month and I will get harassed. If an agency is a good idea, what is the one I read about on this community?
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.