Hi - I live in Texas and have taken out $375.00 in a payday loan from Speedy Cash (Integrity Texas Funding LP). It was my first payday loan ever and only realized how truly bad it was until after it was funded. I am barely making ends meet right now. Is there a way I can stop payments and offer a debt settlement plan or alternative payback. I see I am not the only one out there in this situation. They truly are "prey day" loans.
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.