I filed Chpt 13 bankruptcy almost 2 years ago and have been making my monthly payments. Lately, i have found myself in a never ending loop of taking out payday loans, paying them, taking them out again...etc...etc.. I don't feel like i'll ever be able to escape this viscious cycle. Can I use my Chapt 13 case / status to basically default on these loans? I know default is probably the wrong word, but basically advise the payday loan folks that i have filed Chpt 13 Bankruptcy, and have them submit a claim? I know it's not the most ethical of actions on my part, but i feel so trapped by these organizations and don't feel like i'll ever be able to get my head above water.
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.