I currently have 7 payday loans that originated in Tennessee. I currently reside in Georgia, where payday loans are illegal. What can I do to resolve my debts and end begin the process of getting out of the payday loan cycle?
I am currently paying around $1500 in fees biweekly. It is getting impossible to pay my necessary bills. I have considered working with a credit counseling program. I am nervous to close my bank account, but I really need to settle my debts. I appreciate any advice.
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.