I recently found out that my cash now is illegal. I have paid $800 in fees for a $1000 loan. They are telling me my payoff amount in $1399. I am not trying to not pay the principal back, I just think it's unfair for me to pay such high fees if they are infact illegal.
Has anyone dealt with them? What advice can you give me?
Is calling them and basically saying you are operating illegally and I jsut want to pay the reminder of what I legally owe you? How do I go about negotiating with them? Is it even worth a try?
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.