Email your payday loan lenders ACH and wage assignment revocation letters and ask to communicate with you in writing.
Mon, 01/02/2012 - 13:51
I have 7 illegal payday loans. I have closed my bank account last Friday and opened a new one. My lenders are still trying to withdraw money from my account, but now they won't be able to so. Do I need to revoke wage assignments or wait till they try and do it first? Actually, I don't want them call at my workplace. I want to work with them to pay the principal only. Would they work with me?
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The debt settlement program typically lasts between 6 months to 4 years time.
At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest.
Savings a customer realizes from use of a debt-relief service may be taxable income.
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