I am in Alabama and have heard Payday Max aka Credit Protection Depot is Illegal in all states, is this true? I received an email this morning stating they will take legal action against me. the loan amount was 160, I have paid 152.96. They are wanting another 337.00$. If they are not licensed to lend in my state do I have to pay them more than what I originally borrowed?
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.