I need to get out of my payday loan as soon as I can. I am going into the Military and I can't afford these extension fees every two weeks. I will not be getting a check for at least 2 moths. I am in TN and all of my loans are internet. I am thinking about doing a consolidation but if any of these are illegal I would love to pay them the minimum let them go. Here they are:
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.