Just received email from illegal payday lender, Westgate Group, LLC that my account was being sent to collections. I had sent email advising that I was revoking ACH and that I would be glad to mail payment of $30 once refund of overpayment was mailed back to me so that I can cover principal. I never received response until now. They have referred it to National Credit Adjustors. Will this go on my credit report if lender is illegal? Should I call National Credit Adjustors? Thank you.
Welcome to the forums!!!
Illegal lenders can’t report to the credit bureaus. If they do so, then immediately dispute it with the credit bureaus. You can ask illegal lenders for refund, but depends on their discretion whether or not to return back your money. Close down your old bank account and open a new one.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.