I have been reading the forums for a while, but I am still not sure if all my Payday lenders are illegal or not. If I am reading right, all internet payday loans are illegal in Virgina, is that right? What about installment loans? I have one installment loan with netcredit.com and also a line of credit with CashNetUSA, Is CashNetUSA legal? Anyway, I am over my head and going crazy. Tomorrow I am going to close my bank account and I am sick to my stomach with the thought of all the collection calls I am going to get and really scared that these companies will call my job. I work for a huge company where most of the higher ups would not know me (or care) at all.
These are the companies I have loans with now:
CashNetUSA - 850
netcredit 8/23 1600
CashCall - $2600 originally, now owe $265 because I borrowed money from SpringLeaf Financial to pay off, but not quite enough
National Payday Loan 9/28 400
Cash Advance Network - 9/24 300
Magnum 10/18 350
CashTaxi 11/14 275
Your Fast Payday 11/14 400.
I want to pay back all the principle I borrowed, but I can't pay them all at the same time.
I also would login, except that it shows my name and I don't it to.
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.