I took out an emergency loan from Radiant cash for $300.00. I have never taken out a loan before and was uneducated on the laws regarding installment loans.
When i went to pay the representative said it is accumulating at $50 dollars a day! Obviously this led me to fall behind.
I emailed them with the advice from this forum regarding the laws and that I am revoking ACH and no longer obligated to pay over my principal.
They replied advising I signed the documents and i must pay the full installments.
Four payment of $76.31 have been debited from my account totally $305.24.
What do i do from here? I updated my bank to not allow debits from Radiant Cash.
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.