I got a call from Pay Day Loan Yes regarding the balance on my PDL (the last one I have) and told me that they will send a letter to my employers payroll department for wage garnishment and that because I closed my account, they could proscecute me for writing a bounced check. This is an on line PDL. I am in the state of Maryland and I am considering calling the MD Dept of Financial Regulations to get their input. I don't owe that much and told this very persistent woman that I can pay them the beginning of August. She said that if I don't have at least $100 in by COB on 7/31, she is sending the sheriff's office to my home to arrest 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.