I'm from Michigan. My husband and I were in need of some fast cash for bills. We found 200cash.com for a payday loan. My husband applied and we got it. We had to sign an agreement with this company stating taht if we defaulted, the amount plus legal fees would be taken out of my hubby's paycheck. My hubby didn't sign it, I signed his name for him (with his permission). Well a couple weeks after we got it, my hubby needed surgery and this left him unable to work. He is collecting FMLA from his employer at $276 a week. Now we have 2 kids and are facing shut offs. I am currently seeking employment. Anyways, we defaulted on this payday loan. Now 200cash says that they will garnish. They said that they don't need a court order to do so and have already contacted my hubby's employer to garnish. I really need help to deal with 200cash.com. We cannot afford a garnishment. And they refuse to make payment arrangements with us.
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.