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 Posted: Tue Oct 23, 2007 12:39 pm Subject: HELP! Cash Transfer Centers
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I just spoke to some a$$ from CTC and he threatened to contact my employer to assign my wages. I said that i was aware of my rights and that they could not do this but I was willing to work to take care of the balance. He said the $700 loan I had is now over $900. I talked to someone in my payroll office and they said it IS legal for them to assign my wages based on the contract that I signed--digital signature or not. I don't understand--from everything I have read on here it seemed like they had to get a court order to do such a thing? What should I do?
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nikkigrosso25
Joined: 17 Oct 2007
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AnthonyLemons
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Posted: Tue Oct 23, 2007 12:43 pm Subject:
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Hi Anthony...its an internet loan, Cash Transfer Centers makes you sign a wage assignment.
nikki-Did you send the letter to revoke?? What state are you in again so we can check the laws for the wage assignments....there are certain stipulatins in each state for these.
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volleyballmom
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AnthonyLemons
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Posted: Tue Oct 23, 2007 12:45 pm Subject:
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LOL!!!! Nope...but my pic is on the HOF gallery. I saw yours 
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volleyballmom
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Posted: Tue Oct 23, 2007 12:52 pm Subject:
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it is an internet loan. I faxed and emailed the letter revoking wage assignment today. I just gave the payroll dept. a copy of my letter to them revoking the wage assignment. They haven't received anything yet so I am assuming that I would be covered as it would probably take a few days to get to them?
I live in Indiana and sent out the detailed letter explaining what I would pay them back and revoking them to call me at work or call my employer. I know they received the fax and the email--the guy even said so
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nikkigrosso25
Joined: 17 Oct 2007
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Posted: Tue Oct 23, 2007 12:57 pm Subject:
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Let me do some research on what the Wage Assignment regs are for Indiana.
Heres an example of what I mean...In California, in order for a wage assignment to be valid and for an HR dept to legally honor it is if both me AND my spouse signed it.
Be right back
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volleyballmom
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Posted: Tue Oct 23, 2007 1:00 pm Subject:
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i don't have a spouse
what about if I revoked it and they got it today?
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nikkigrosso25
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Posted: Tue Oct 23, 2007 1:01 pm Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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You did the right thing by giving that revocation letter to you payroll dept. If you can find a legitimate address for them I would send one by certified mail also. Please be sure that your payroll people are aware that "assignment" is voluntary and they are under no obligation to honor it. Many payroll people are ignorant and don'r realize that it is not a garnishment. One member had her payroll give her check away despite the fact that she had revoked the assignment and assignments were also illegal in the state she lived in. Her payroll responded with "it does not apply here." CTC will with certainty use that assignment. They are illegal and based overseas and could care less about the laws in this country!
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frogpatch
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Posted: Tue Oct 23, 2007 1:04 pm Subject:
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i have a feeling I am going to go round and round with the payroll department. They are supposed to call me tomorrow and let me know. How can I stress to them that a wage assignment is voluntary for them as my employer to honor?!!!
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nikkigrosso25
Joined: 17 Oct 2007
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Posted: Tue Oct 23, 2007 1:06 pm Subject:
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Great info Frog!  And sadly true....
I sent an Pm to goudah and let see what she has available for Indiana wage assignments.
You need to be armed with as much info on the laws as possible especially if you have an HR dept that would even CONSIDER honoring a voluntary wage assignment.
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volleyballmom
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Posted: Tue Oct 23, 2007 1:13 pm Subject:
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My understanding is that since I revoked the wage assignment before it got to my employer and since it is voluntary I should be ok right? What if CTC tries to send it anyway. I guess I will just have to remind my employer that I revoked it and educate them on a garnishment and a wage assignment...
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nikkigrosso25
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Posted: Tue Oct 23, 2007 1:16 pm Subject:
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Exactly...hopefully Goudah will respond soon and give more info that you can arm yourself with!
CTC will be sneaky, try to submit it and see what happens.
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volleyballmom
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Posted: Tue Oct 23, 2007 1:26 pm Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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It is to your advantage to be a step ahead of them. They will probably send it anyway but at least your dept has the revocation. Definately jkeep them educated. I was lucky because my boss got it and called me in and asked me about it. He picked up the phone and called and said he would not honor it. A week later CTC sent a settlement offer of more than half. I took it but had I not they could not have forced a collection because of their illegality. Their only means is the wage assignment.
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frogpatch
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Posted: Tue Oct 23, 2007 1:41 pm Subject:
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Nikki..here is a lot of info, but basically spouse needs to sign and the wage assignment is not legal unless is was executed to your employer PRIOR to you getting the $$...
Thank you Goudah!!!
| Quote: | Information Maintained by the Office of Code Revision Indiana Legislative Services Agency
10/23/2007 04:25:45 PM EDT
IC 22-2-7
Chapter 7. Assignment of Wages
IC 22-2-7-1
Wage broker defined; employee direct deposit or commission payments by insurer; applicability of wage assignment provisions
Sec. 1. (a) Any person, company, corporation, limited liability company, or association loaning money directly or indirectly to any employee or wage earner, except the employer of the employee, upon the security of or in consideration of any assignment of the wages or salary of such employee or wage earner shall be defined and held to be a wage broker and subject to the provisions of this chapter.
(b) A direct deposit made by electronic funds transfer or other method to an employee's account in a financial institution as agreed to by the employer and the employee does not constitute an assignment of wages subject to this chapter.
(c) An assignment or pledge of, or a grant of a security interest in, a contractual right of a person to receive commissions payable directly or indirectly by an insurer (as defined in IC 27-1-2-3) does not constitute an assignment of wages subject to this chapter.
(Formerly: Acts 1909, c.34, s.1.) As amended by P.L.144-1986, SEC.11; P.L.143-1988, SEC.5; P.L.216-1989, SEC.3; P.L.8-1993, SEC.275; P.L.116-1994, SEC.1.
IC 22-2-7-2
Amount of assignment; post-dating
Sec. 2. No assignment of his or her wages or salary by any employee or wage earner to any wage broker or any other person for his benefit shall be valid or enforceable, nor shall any employer or debtor recognize or honor such assignment for any purpose whatever, unless it be for a fixed and definite part of the wages or salary earned or to be earned during a period not exceeding thirty (30) days immediately following the date of the assignment. Any assignment which shall be post-dated or dated on any other date than that of its actual execution shall be void and of no effect for any purpose whatever.
(Formerly: Acts 1909, c.34, s.2.)
IC 22-2-7-3
Interest; rates and charges
Sec. 3. No wage broker shall ask, demand or receive, either as compensation or interest, or in any other manner, directly or indirectly, any compensation or interest for the use of money advanced or loaned by him to any employee or wage earner in excess of the rate of eight per cent (8%) per year, and said compensation or rate of interest shall be computed upon the amount actually advanced to and received by the borrower, and no commission, compensation or charges in addition to the interest above named shall be asked, demanded or received by said wage broker or any other person for making or securing said advancement or loan.
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(Formerly: Acts 1909, c.34, s.3.)
IC 22-2-7-4
Married persons; consent; exemptions
Sec. 4. (a) No assignment of wages by a married person who is living with the person's spouse residing in Indiana to any wage broker shall be valid or enforceable without the consent of the spouse, evidenced by the spouse's signature to said assignment, executed and acknowledged before a notary public or other officer empowered to take acknowledgments of conveyances. No wage broker or person connected with the married person directly or indirectly shall be authorized to take any such acknowledgment.
(b) This chapter shall not apply to any deduction from the wages of any employee of such employer, which deduction is made for the purpose of applying the same to any account of such employee in any credit union or any nonprofit organization of employees of such employer organized under any law of this state or of the United States.
(Formerly: Acts 1909, c.34, s.4; Acts 1945, c.250, s.1; Acts 1955, c.278, s.1; Acts 1957, c.303, s.1; Acts 1975, P.L.111, SEC.2.) As amended by P.L.143-1988, SEC.6.
IC 22-2-7-5
Notice to employer
Sec. 5. No assignment of wages shall be valid or enforceable unless notice in writing of the same, accompanied by a copy of the assignment, shall be given to the employer or debtor within ten (10) days from the date of its execution.
(Formerly: Acts 1909, c.34, s.5.) As amended by P.L.143-1988, SEC.7.
IC 22-2-7-6
Amount of loan
Sec. 6. Every purchase of a wage broker of an assignment of the wages of any employee or wage earner shall be held and considered to be a loan in the sum and of the amount actually paid to and received by such employee or wage earner.
(Formerly: Acts 1909, c.34, s.6.) As amended by P.L.143-1988, SEC.8.
IC 22-2-7-7
Violations
Sec. 7. A person who recklessly violates this chapter commits a Class B misdemeanor.
(Formerly: Acts 1909, c.34, s.7.) As amended by Acts 1978, P.L.2, SEC.2206.
IC 22-2-7-8
Forfeitures
Sec. 8. Any note, bill, or other evidence of indebtedness and any
assignment of wages or salary given to or received by any wage broker or any other person in violation of any of the provisions of this chapter shall be null and void and of no effect; and upon conviction, any and all moneys advanced or loaned by said wage broker in violation of any of the provisions of this chapter and all interest thereon shall be forfeited.
(Formerly: Acts 1909, c.34, s.8.) As amended by P.L.144-1986, SEC.12. |
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volleyballmom
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Posted: Tue Oct 23, 2007 2:08 pm Subject:
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Oh my thank you so much! I am going to forward this to the payroll. Can you help me understand which part of this legal stuff outlines what you said "not legal unless is was executed to your employer PRIOR to you getting the $$..."
Does that mean that ctc would have had to send the wage assignment to them before the money was deposited to me?
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nikkigrosso25
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