I have two online installment loans: One for $3000 and the other for $1200, for over a year. I have paid back $8k and $4k respectively. The larger one is with PlainGreen, the other is with Mobiloans. I am at a point that this needs to stop. What are my options? Can I call them up and say you have gotten your money back 4x, leave me alone?
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.