I have a couple of payday loans, which I took out of desperation like so many of us. I have been paying fees and even though I'm up to date on my payments I'm having a hard time. I don't know much of the law re: these payday loan companies but I read that they're not legal in Puerto Rico. Was it legal to loan me money knowing I live in PR? What can I do to settle this debt in a fair manner?
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.