I live in Kentucky and i have 8 store front payday laons totaling about 3,000 or less. I want to pay them back but the fees are taking my check. i cant pay rent, etc and i have taken on 2 part time jobs and still cant make it. What is the law, does it go to collections where i can make payments and does it effect my credit? HELP!!! Pay check is comiong up and i don't want to run around.
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.