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hey guys and gals

Date: Tue, 10/17/2006 - 11:03

Submitted by TASHA_MOSELEY
on Tue, 10/17/2006 - 11:03

Posts: 408 Credits: [Donate]

Total Replies: 7


what do these companies do to you when you default on the loan. please help me. this is so stress full...


You may try to bring the matter under control by keeping yourself available to the lenders. I am not sure how each of these companies behaves with people who have defaulted on their payments. But they may make endless phone calls and harass everyone. In most cases, when they fail to recover their money, the file is sent to one of their collection agencies. If the contract is in writing and they are in business as per your state laws, they will try to garnish wages in some cases.

If you don't want to go through such situations, talk with your lenders and arrange a payment plan. Pay the accounts at your ease and make sure that the arrangement is in writing.


lrhall41

Submitted by weeswie on Tue, 10/17/2006 - 12:11

( Posts: 382 | Credits: )


Then you need to file complaints with CA AG's office, I believe you can do this via their website http://www.ag.ca.gov/ . CA banned these guys, made a press release statement on Sept. 8th. If there is a voluntary wage assignment agreement in your contract, revoke that. Even so, your state, as in the case of most states, don't even recognize these voluntary wage assignments, garnishments must be by court order. And it is highly unlikely that an unlicensed inernet pdl is going to take you to court, because they are unlicensed to do business in your state. Just to be safe, send a letter revoking any voluntary wage assignment and give that to your employer also. You are lucky, you live in CA, they are getting tough on these unlicensed lenders.


lrhall41

Submitted by WHEREAMI? on Tue, 10/17/2006 - 12:59

( Posts: 5263 | Credits: )