This is a quote from letters that were sent to my pdl's from NC AG....
"It appears that your company is offering payday loans to North Carolina consumers. You should be aware that payday loans are not authorized in North Carolina. North Carolina's Consumer Finance Act, North Carolina General Statute 53-164 et.seq., regulates small consumer loans and allows a maximum interest rate of up to 36 % for licensed lenders. Further, North Carolina General Statute 53-166(d)provides that consumer loans made by out-of-state lenders to North Carolina residents can be subject to our usury laws. North Carolina General Statute 24-2.1 states that any solicitation to lend "originating outside of this State, but forwarded to and received in this State by a borrower who is a resident of this State shall be deemed to be an offer or agreement to lend in this state." Further, under that statute any communication to borrow from a North Carolina consumer to an out of state lender shall be deemed to be an acceptance to borrow in this State."
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.