I have a payday loan with Silver Star financial for 600 and one with Mobiloans for 750. I've asked these companies to stop ACH withdrawal and they refused saying I agreed to their terms. Is either of these companies licensed in Mississippi? What can I do to stop the ACH payments?
Welcome to the forums!!!
Both the lenders are illegal in your state. You owe only the principal amount. No interest, no fees. It would be better for you to close down your old bank account and open a new one to stop debiting money from your account.
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.