So I'm relatively new to the PDL endless cycle and I wanted to know my options on getting out it.
I took a $1400 PDL in TX to get a car for work. It was an urgent time for me and I didn't consider a lot of other options. Anyway, I’ve been paying it off following the schedule bi weekly payments and right around the 8th or 9th payment, I lost my job so I could not afford it.
I refinanced twice and went to the storefront telling them about my situation and they just keep refinancing and now I'm back to the balance I started with after 4 solid months of payments.
I researched this problem in the past and since Cash Store is a CFSA member, members should provides Extended Payment Plans (EPP) in good practice. However, the storefront employees act as though have no idea what I’m saying and I told them that this isn't the first time someone has requested this.
I’ve paid over $2100 on a $1400 loan and they’re trying to start it all over again. If I don’t make a payment next week, they'll Debit my account and send me to collections. I so desperate to get this burden off my plate but I don't know what else to 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.