I have a few payday loans, but the one I am most concerned about to start with is Payday Max. I have checked the State of Kansas website and it does not look like they are licensed in Kansas. The last 2 loans I did with them were:
on 2/8/13 borrowed $2440.
Paid off on 4/29 - total payments $4032.19
Started new loan on 4/29 for $1778.99
I have made 2 payments totaling $1481.06 so far
Still have a balance of $2962.12
So to me this suggests I am legally done with them and they actually owe me around $1300. Does that sound right?
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.