Currently I have a payday loan through Hydra Fund & 247greenstreet.com. I am trying to dispute the validity of the loans with Iowa law. Am I correct in stating that since these lenders are on the list of licensed lenders with Iowa and they are out of the country I am not obligated to repay the debt? I have contacted both lenders and they state they will be going through a collection agency. Please help!
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.