I am having similar experiences with Sonic Payday as have been described on this site. I couldn't pay back the loan on 10/15, Sonic said they would not accept payments, I have made two partial payments to date but still owe a lot with the extra charges they've added on. I have been threatened with a wage assignment. Then, today I received the following email from Sonic which appears to be one of those computer generated emails:
Did you know that you are already approved for $400 until your next payday?
Since you've repaid your last loan with SonicPayday.com, getting the cash you need is simpler than you think!
You can log on to request your next loan online at sonicpayday.com. Once your loan is approved, your funds should be in your account the very next business day!
It's that simple.
And don't forget, you can check your loan status by visiting (www.sonicpayday...)
Does anyone have any idea what this means? Has Sonic sold my loan to a collection agency or something? Has anyone else had this happen?
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.