When I first went down the road of remedying the PDL nightmare, I read that PDLs were illegal in OK. Therefore, i sent my letters stating they were illegal and therefore, I had more than paid the principal and actually paid more than that.
Much to my shock and gut wrenching feeling, I just read that they are LEGAL in Oklahoma but are capped at only having 2 out at a time and with a $500 maximum amount and no rollovers.
I was nervous before about closing my account etc but now I am flat out petrified what will happen to me.
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.