I got a pay day loan on line through a company called CMG and have not been able to pay it back and there are different collection agencies calling me on this. I asked them for a validation of debt letter which I never received. How do I know if this collection people are really with them?
You don't unless they validate, are your asking them for debt validation in writing and sending it certified, return reciept your requested? They will get very aggressive in their efforts to collect this debt. Make sure you keep a copy of everything that you send them.
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Yeah…ask the CA to validate the debt in writing via certified mail with a return receipt request. If they don’t give any valid proof, then you need not to make any payments. Next time if they call you back, send them a Cease and Desist letter.
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.