I started by following SoapLady's guide by opened a new account, revoking ACH withdrawals from the old one, and sending a letter on July 31st 2014 to the lender. Here is the reply I received and the subsequent e-mail discussion. The original letter is embedded in the discussion:
Your balance is $890.00 of which we can set up payment arrangements on the account into 5 payments. We want to keep the account in good standing so that you will be eligible to receive future loans with us. Let me know if this will work for you.The method of payments that we accept are Debit, Credit Cards, ACH or Prepaid Cards.
Big Valley Workout Dept.
Toll free #: 1-888-963-9493
Office Hours: 9:00am - 5:30pm CST Mon-Fri
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.