I was going through a hard time and I had no money. I made the very stupid decision to check out a payday loan place (sounded good at the time, i just needed the money). NOW I have 2 payday loans and I can't seem to get rid of them!! One of them costs me 88.41 every two weeks! and the second is 195, they charge me 45 each payday as some sort of fee, plus the money to pay down the loan. Ahhhh!!! I can't seem to get rid of them, I get paid every week but in the end I spend more on the loan than I have the money for. By time I pay it, I end up renewing because then I'm left with no money for the week!!! What should I do?!?!
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.