I live in Maryland; however, as someone who's had the sad experience of dealing with PDL's, I've been following the efforts in Virginia to control the PDL's there. As I'm understanding it, they want to make the law where a person can only have 1 PDL at a time and supposedly will have a database to keep track of that. How would they enforce that if people apply for the internet loans? I'm sure that the PDL places which are located in India, the Caribbean, etc., don't really care HOW many PDL's a person has as long as they can get money from them! (I mean, if you'll notice, most internet PDL sites don't even list what States they're illegal in)
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.