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kmommy35

Does anyone know if any of these are legal- I think I have overpaid at least 2 and one is almost paid off. Please help!

Huskhawk group-325 paid $440 in interest
Summit group-325 paid 300 and its in collections at pdm and I was told they were going to garnish my wages up to 30% and I would have to pay $2500 in fees
mte financial (instantcash)-390- paid 270 in fees so far
Chieftan financial-260 paid 180 in fee
STC advance.com 274 paid 444 in fees

Posted: Sat Aug 30, 2008 5:11 am Subject:

Hi there and welcome. Smile

They can't "garnish" your wages unless they have a court order. Most likely what they are referring to is a wage assignment, and you are entitled to revoke that at any time. All you need to do is shoot them an email and revoke any and all wage assignments you may have signed on the loan agreement, show a copy to your employer and they will not be able to attach your wages.

Posted: Sat Aug 30, 2008 5:20 am Subject:

Kmommy35
Check out this link to see what is legal in your state:
http://www.paydayloaninfo.org/states.cfm

Legal Status: Legal

Citation:
Ill. Comp. Stat. Ann. § 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 7 days after 45 consecutive loan days
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $25 NSF fee (Presentment limit = 2)
Criminal Action: Prohibited

I am sure they are operating out size the limits of you state. Review any paperwork that you have with them.

As for summit group, they can not just garnish your wages without going to court as listed below

A wage deduction procedure cannot start before the creditor gets a court judgment. Afterwards, a creditor can file a document with the court clerk called a "Wage Deduction Affidavit". There, the creditor states his belief that the debtor’s employer owes the creditor wages. In that affidavit, the creditor must certify that, before filing the affidavit, he mailed a "wage deduction notice" to the debtor at the debtor's last known address. That address must also be stated in the affidavit.

Posted: Sat Aug 30, 2008 5:26 am Subject:

I don't think any of your lenders are licensed to lend in Illinois, if I am wrong someone correct me. I can't really come up with anything on Chieftan financial but from what I've read about them in this community they are very nasty to deal with, others have also said they also go by the name of LoanpointUSA. I can't seem to locate any address or contact number for Hushhawk group, perhaps someone else will have that info, keep checking back.

Loan Point USA
1-800-351-8820 Ext: 304
1-800-351-8830 Fax
kroddy@loanpointusa.com

stcadvance.com - 1-800-680-1357
213-756-5236
210-892-2613

MTE
compliancedepartment(at)mtefs.com
Rio Resources/MTE Financial Services
147 Eubank Blvd NE
Albuquerque, NM 87123
Phone: 866-859-6129
Fax: 866-668-0535

Summit Group LLC (AKA SSM Group)
1-866-463-2130
Fax: 1-866-463-9412
Phone: 1-866-828-6351
Fax: 1- 866-828-6352

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