I am trying to negotiate paying just the principal amount as I do not have the amount of money they want plus the ridiculously high interest. They are not willing to work with me. What course of action should I take. Additionally, I have used these particular loans several times with no reservations; I paid back the principal plus interest rates. Do to our previous relationship, you would think that they would be willing to work with me. They are not and it is hard to get in contact with a higher up. I am in Georgia.
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.