I had received a call about a month back from PDM. I spoke with the woman who in her own way was trying to get me to see what a great deal she was giving me on payment of a payday loan that they had been assigned to collect from me.
I let her know that I had faxed info to the company ASAP letting them know that I had contacted the Massachusetts Division of Banks who let me know that I do not have to pay anything above the actual cost of the loan (which I actually paid $40.00 more already) , since it is illegal to offer these loans in Massachusetts.
Well, I did not pay this great deal that she was offering and they have since called my employer to verify employment. I took the advice that I see many people posted, of faxing, emailing, and sending by certified mail, a debt validation letter. Well, that was last week and they still have not signed for the certified mail.
I received a phone message today from the "investigation dept" and said that he has a few questions, before he sends the paperwork out to my employer.
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.