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 Posted: Wed Oct 17, 2007 12:13 pm Subject: Laws in NH for Wage Assignment/Garnishment?
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What are the legal laws for wage assignment in NH? How soon after a default on a loan can someone enact a wage assignment? Is there a timeline like 30 days etc.? I've been trying to find a website, but I'm not having much luck.
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marionsmith
Joined: 13 Aug 2007
Posts: 6
Debtcc Points: 297
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Posted: Wed Oct 17, 2007 12:22 pm Subject:
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Wage assignments are strictly VOLUNTARY , and you can revoke them at any time. Because they are voluntary there are no laws for them. All you do is send a letter to ant company that may have your wage assignmnet and revoke it.
If you are talking about wage garnishment i will post the laws. But again, assignments are voluntary so just revoke it
New Hampshire Wage Garnishment
New Hampshire has a non-continuous wage attachment "on the books," in RSA 512. The process is seldom employed due to severe restrictions on its use, the cost, and the fact that many judges do not favor it and have discretion to disapprove it.
The lien applies only to wages earned post-judgment. Under New Hampshire procedural rules, seeking a garnishment would therefore require the filing of a new lawsuit each time such an attachment is sought. The attachment only applies to wages earned up to the date of service. In other words, there is no provision for an ongoing garnishment.
There is an exemption for earnings up to 50 times the minimum wage. New Hampshire does have a mechanism for establishing a court-supervised payment plan under RSA 524. This creates no lien against earnings, and is enforceable through contempt should the debtor default.
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kashzan
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Joined: 11 Jul 2007
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Posted: Wed Oct 31, 2007 8:54 am Subject: default on payday loans
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can you tell me what happens if you cant pay your payday loan if you live in Mass., but the loan is in NH?
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Shawna
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Debtcc Points: 100
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Posted: Wed Oct 31, 2007 8:59 am Subject:
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In order for any one to garnish your salary they would need a court order. If your PDL is illegal they really can not get a court order If you signed a wage assignment you need to revoke it. It is strictly voluntary
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kashzan
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Joined: 11 Jul 2007
Posts: 5458
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Posted: Wed Oct 31, 2007 9:19 am Subject:
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The laws Kashzan posted are for wage garnishment. Wage assignments are a bit different, but they are still illegal in NH:
| Quote: | REGULATION OF SMALL LOANS, TITLE LOANS, AND PAYDAY LOANS
Section 399-A:13
399-A:13 Provisions Applicable to Payday Loan Lenders. –
IV. A lender shall not obtain any agreement from the borrower:
(a) Giving the lender or any third person power of attorney or authority to confess judgment for the borrower;
(b) Authorizing the lender or any third party to bring suit against the borrower in a court outside the state; or
(c) Waiving any right the borrower has under this chapter.
V. A lender shall not require, or accept, more than one check from the borrower as security for any loan at any one time.
VI. A lender shall not cause any person to be obligated to the lender in any capacity at any time in the principal amount of more than $500.
VII. A lender shall not refinance, renew, or extend any loan.
VIII. A lender shall not cause a borrower to be obligated upon more than one loan at any time for the purpose of increasing charges payable by the borrower.
IX. A lender shall not require or accept a post-dated check as security for, or in payment of, a loan.
X. A lender shall not threaten, or cause to be instigated, criminal proceedings against a borrower if a check given as security for a loan is dishonored.
XI. A lender shall not take an interest in any property other than a check payable to the lender as security for a loan.
XII. A lender shall not make a loan to a borrower to enable the borrower to pay for any other product or service sold at the lender's business location.
XIII. Loan proceeds shall be disbursed in cash or by the lender's business check. No fee shall be charged by the lender or an affiliated check cashier for cashing a loan proceeds check.
XIV. A check given as security for a loan shall not be endorsed to a third party.
XV. Upon receipt of a check given as security for a loan, the lender shall stamp the check with an endorsement stating ""This check is being negotiated as part of a payday loan pursuant to RSA 399-A, and any holder of this check takes it subject to all claims and defenses of the maker.''
XVI. Before entering into a payday loan, the lender shall provide each borrower with a pamphlet, in form consistent with regulations promulgated by the commissioner, explaining in plain language the rights and responsibilities of the borrower and providing a toll-free number in the banking department for assistance with complaints.
XVII. Before disbursing funds pursuant to a payday loan, a lender shall provide a clear and conspicuous printed notice to the borrower indicating that a payday loan is not intended to meet long-term financial needs and that the borrower should use a payday loan only to meet short-term cash needs.
XVIII. A borrower shall be permitted to make partial payments, in increments of not less than $50 on the loan at any time prior to maturity without charge. The lender shall give the borrower signed, dated receipts for each payment made, which shall state the balance due on the loan. |
A wage assignment is other property that would secure the loan.
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