I have been getting calls from a regional arbitration services saying I owe on a payday loan from 2003. I called advance america and they said it was sold to MLA Holdings and gave me their number. I called them, but I only got a recording. The debt was for 167.00 arbitration wants 577.00. Regional arbitration services couldn't tell me when the debt was made. Just that it went delinquent in dec. Of 2007. Is this a scam or should I deal with these people? Help!
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.