Unfortunately, I made the terrible mistake of taking out an online emergency loan of $2200 with QCredit this past November and have already paid $3190 towards the loan. I currently reside in Arizona and am trying to pay it off early, but the last lump payment of $1000 barely dropped the payoff balance to $1860. I am thinking about making another lump sum payment, but I am afraid that hardly any of it will go to the principal and at this rate, it is nearly impossible to pay it off early. Has anyone else run into the same issue? Or any advice at all would greatly be appreciated.
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.