I took out a few payday loans and paid them back with all their rediculous fees but the last one. I just received an e-mail today where they have sent a letter to my employer. What should i do now? I have read about people who have demanded that they are to only pay the princepal of what they borrowed and since they have paid so much in fees they got their fees back and a zero balance? What should i do?
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.