I got a call from an atty's office this morning trying to make me a settlement offer on some payday loans....if I do not take the settlement with the option of payment arrangements they will continue to take me to court and I would have to get an atty to represent me....this is 2 payday companies who is pursuing me for 1709.95.....and they are offering me a settlement of $1,100.00 to make arrangements on.
Can they do this....is this legit....they are giving me 24 hours to decide what to do.
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.