I revoked the payday loans that were illegal in my State. I did pay all the principal on the loans plus way too much interest. I revoked all the illegal ones and I noticed I had an email in my junk mailbox that says they are going to turn me over to the sheriff and take me to small claims court. The company they listed I didn't even have a loan with?? Should I be worried?
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.