Debt Settlement Companies

Hi sugarf35,

See our Ranking Chart. When you click on your state, there will be recommendations by the members of DebtCC for companies operating in your state (scroll down).

If these payday loans are storefront, they mostly refuse to settle, you must work out a payment plan with them on your own. If they are online, you can work with them on your own (click on "Do It Yourself" above). If you choose to work with a settlement company, I would say to choose a law firm because many of these online payday loan places operate illegally.

As far as fees, a company cannot operate for free, there are expenses for operating a business. Even the non-profits charge a fee. However, apparently many of these companies get the other fees from the creditors themselves, which I personally wouldn't trust at all.

But I understand your plight. BBB Accreditation is a good thing to check out for, if you choose to go with a debt settlement company, make sure they have it.

Good luck, and keep us updated!

chrys

i used a excellent debt settlement company but i dont know about the payloan debts. I have never used these types of services but your welcome to check them out if you like

Where are you located? Location can be important.

yes location is important. I know the company i used was not allowed to work in like 5 states due to they do not allow debt settlement companies to work there or whatever. So you will need to know the facts.

sugarf35 , what state do you live in ?

FYI , Be wary of any settlement company that tells you they can handle Cash Call. Cash Call will simply not settle. They are very aggressive and will basically allow you late fees , penalties and interest accrue to allow the balance to grow and then sue you.

From what I understand Cash Call has changed that policy and is now working with third-parties, Mobile. Can't say I have had first-hand experience though, so maybe someone else can chime in that has dealt with them recently.

Anything is possible but I very much doubt it. I work in the settlement industry and we still can't work with them but I hope that I am wrong and they are starting to be more receptive to debt settlement. Perhaps Cash Call finally realizes that its better to recoup some money than to possibly get none if their client files CH 7.

Settle them yourself, stop being so afraid, grow some guts.

Be careful of paying upfront fees. Try negotiate with settlement companies. In fact before that try doing the settlement directly yourself, and if that really does not work then go for a settlement which does not charge upfront fees. If they charge a fee based on results that is something you could consider.

Try my website link as well, it will help you.

Most of the companies I have been talking to do charge alot of up front fees, and won't pay the payday loans, although most say they will. I am looking into settling them myself. I am in the state of Pa.where they are illegal and the percentage rates are illegal, but as I was told that they go by rules in their owns states.

stick with a company with no upfront fees they are out there i promise! i couldnt have afforded to pay them even if i wanted to at the time. This way too, if you decide you dont like what you hear a month or so down the road you can get out fast without loosing a butt load of money. Im hearing alot of these companies charge these huge rates upfront but if you quit within X amount of time you loose thousands. be vary cautious to these high fees. you cant afford to loose more

If you live in PA and a internet payday lender lent you money than they pretty much broke the law and technically you could tell them to suck an egg because there basically is nothing they can do to you besides call you or try and get a voluntary wage assignment " which is revocable at any time ". Plus PA is a non-garnishment state anyways so even if they were legal and the creditor were to sue you they still would have a difficult time getting money out of you. You have all the leverage. I suggest you try and settle the internet pay day loans by your self. Simply close you bank account and open a new one so they don't have access to your money anymore.

wow way to go debt samaritan! some pretty useful information for PA residents.

The internet lender only broke the law in PA if they were (a) unlicensed in any other state at the time the loan was made or (b) made the loan after February 1, 2009 when the Department of Banking's new policy went into effect. Prior to that the state's position was that as long as the lender was licensed somewhere loans could be made to PA residents. Right now there is a big lawsuit between CashNetUSA and the PA Department of Banking over whether the Department has the right to enforce the new policy. The docket number for the case is 8 MD 2009 if anyone wants to go to the Pennsylvania Commonwealth Court's website to check it out, and the Department of Banking's interpretive letter that set forth the 2/1/2009 deadline can be found at http://www.banking.state.pa.us/banking/lib/banking/laws_and_regulations/pa_bulletin_notice_re__cdca_(2).pdf

Interesting. Either way, PA is a non-garnishment state so you still have a ton of leverage to settle.

That's true. Wage assignments are equally illegal and it's illegal for a creditor (whether first or third party) to threaten criminal prosecution to collect a debt. Notwithstanding the weak payday loan laws, it's a very good debtor's rights state.

Either ways I also think go in for a company which has no upfront fees..

I don't know of a single debt settlement company that doesn't charge some sort of up front fees.

Safdar is just typing nonsense just so he could advertise his website. The link has been removed from his signature. I would pay about as much attention to his posts as dog poop on the bottom of my shoe.