Hi! I'm hoping to get some advice here...I've been reading through old posts and it seems there are a lot of knowledgeable, helpful people on this site.
Up until last month, I had 3 outstanding PDL's...last month I got an "installment loan" from Thinkcash (division of paydayone). I used it to pay off my 2 smaller pdl's. My fee every pay for that is only $83 - way better than the $300 just in fees for the 2 loans! Anyhow, I only have one PDL left (besides the Thinkcash loan I just opened)...it is with Paydayone (internet). I cannot afford to keep paying these fees! I've had it for over one year now! The principal is $850...I've gotten it down a few times but when I can't pay the fees I have taken the increase. I just looked over my bank records and I have paid $1,783.10 to date w another $200 scheduled to come out on Friday (fees only)!! This cannot be legal, right??
So that's it..sorry to ramble..I have 2 outstanding loans but am really only concerned w the paydayone year old debacle. I'm a single mom who only makes $1500 a month, the $4oo in fees is taking away our grocery $! If I get groceries I can't pay my car pymt or rent!
I'm so ashamed, I can't even sleep. We live in PA....
I'm scared to close my bank account because I had to give my boss's name when I applied - would they really contact him?
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.