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Payday loans company threatening garnishment

Date: Wed, 11/29/2006 - 12:15

Submitted by artwriter06
on Wed, 11/29/2006 - 12:15

Posts: 23 Credits: [Donate]

Total Replies: 41


I have several payday loans which I took out online - 5 to be exact. Only one has threatened to garnish my check if I cannot repay in full. I live in Minnesota and Minnesota law states they cannot garnish more than 25% of my check due to dependent care. Is this true? Is there any help for me? Please advise. :(


Yes, that's true about the garnishment... However, if the lenders are not licensed in your state, then they are lending illegally..And it would be darned difficult for them to get a judgement against you...

There is plenty of help for you! What companies are you dealing with, and let me ask you this..by any chance is it cash transfer centers threatening to garnish? Garnish is the wrong word for them to use..wage assignment is more like it. What you need to do first is send a letter to the company making the threats stating that you revoke any and all wage assignments. Also, you will need to send a similar one to your payroll dept.

Sorry to get ahead of things..what companies are you dealing with, we can help you.


lrhall41

Submitted by finsfan13 on Wed, 11/29/2006 - 12:21

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I feel a company gets the legal stand if they can prove that you are avoiding the repayment. Your account will not go in default even if there is a small payment activity. The company doesn't have to accept any repayment plan you offer, but there should be a proof that you made a payment effort. This will matter if the case reaches in front of the judge. Seeing your willingness to pay the debt, judgment will not be filed against you. All communication with the lender is to be done in writing for proof.


lrhall41

Submitted by Howard on Wed, 11/29/2006 - 12:22

( Posts: 310 | Credits: )


Yes, the one threatening garnishment is cash transfer centers......I am afraid of what they might do. The others are: TenDollarPayDay, OneClickCash, UnitedCashloans, and MtOread - can't remember rest of the name on the last one. Where do I mail the letter regarding the "revoke of garnishment"? I can't seem to find an address for them. Thank you for your help...you don't know how many nights I've spent awake worrying about this - feeling like I was the only one struggling with this kind of problem. Your advice has helped me feel like less of a financial "freak".


lrhall41

Submitted by on Wed, 11/29/2006 - 17:39

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Thank you finsfan, if you could get an address for me that would really help me out. :)


lrhall41

Submitted by on Thu, 11/30/2006 - 09:37

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Their physical address is listed below.


Ms. Kimberley DeThomas, President
c/o Payment Services
Cash Transfer Centers
E-Care Contact Centers
400-15225 104th Avenue
Surrey, BC
V3R 6Y8

This is their phone number.
(604) 588-2260


lrhall41

Submitted by PDL Investigator on Thu, 11/30/2006 - 11:01

( Posts: 147 | Credits: )


Thank you PDL investigator - now I can send them a letter and try to make arrangements with them as talking to them on the telephone has granted me little success.


lrhall41

Submitted by artwriter06 on Fri, 12/01/2006 - 13:03

( Posts: 23 | Credits: )


I have received a couple of calls from these companies offering payment plans; however, I asked that they submit something in writing but they will not until I agree to a plan - I can't agree to a plan without seeing something in writing - I only have addresses for two of these companies as the others refuse to cooperate. I am trying to pay these off but they are making cooperation difficult. In Minnesota it is illegal to "rollover" the loans in the first place, as are loans over $350. I'm unclear as to what to do...any advice?


lrhall41

Submitted by artwriter06 on Tue, 12/05/2006 - 13:15

( Posts: 23 | Credits: )


The ones that have been calling me will not give me thier addresses and refuse to take payments by mail - can they do that? I no longer have a bank account and do not have a credit card so how on earth am I supposed to repay them?? Please help. :cry:


lrhall41

Submitted by artwriter06 on Thu, 12/07/2006 - 12:46

( Posts: 23 | Credits: )


Make yourself clear to the company that you have no other options but to pay it by mail. Do it in writing so that you are able to prove your attempt. I will recommend that you send the money order along with the letter. When they will see your money, you can expect them to adjust.


lrhall41

Submitted by Howard on Thu, 12/07/2006 - 14:14

( Posts: 310 | Credits: )


Thank you Howard, however, they will not give me their address...stating they do not accept mail payments, so how do I go about getting an address to mail payments to??


lrhall41

Submitted by artwriter06 on Thu, 12/07/2006 - 14:33

( Posts: 23 | Credits: )


No one has replied to my posts regarding what will happen if I can't pay. I have just been screamed at by a collector from Mt. Oread refusing all of my attempts to pay. I am trying to set up a consolidation program but they will not - they won't let me make any payments except in two large payments or all at once - which I am unable to do. Please, if someone knows what I can do or where I can reach them please help me. Mt. Oread is known as Mt. Oread Ventures Xpress Cash and TenDollar Payday Loans is known as Rio Resources. They said I would go to jail or they would sue me, but Minnesota law prevents such things as payday loans that "rollover" and/or are above $350 are illegal in my state. (I have actual documentation of this). PLEASE HELP!!


lrhall41

Submitted by artwriter06 on Fri, 12/08/2006 - 08:39

( Posts: 23 | Credits: )


Artwriter06 be careful when dealing with Rio Resource (MTE Financial), the company will go by many different names. They probably are operating without a license in your state. Check the state licensing office to see if the are. More than likely the are not which will make the loan illegal


lrhall41

Submitted by bdouble on Fri, 12/08/2006 - 09:17

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Thank you bdouble. However, I just got a call from Mt. Oread (LTS) stating that because I closed my checking account (it was negative $800) that they are considering non-payment to be internet fraud/check fraud...but I called them to make payment arrangements - so does that still give them justification?


lrhall41

Submitted by artwriter06 on Fri, 12/08/2006 - 09:50

( Posts: 23 | Credits: )


Artwriter, If I had a dollar for everytime I have heard that from a payday company? You are not going to be charged with fraud. They are blowing smoke. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Fri, 12/08/2006 - 09:51

( Posts: 2477 | Credits: )


artwriter06 you WILL NOT go to jail, you commited no fraud here especially check since you never wrote a CHECK.. Anyhow here are the laws for your state. If you would like my assistance in drawing up a letter on how these people are in the wrong send me a PM.


[quote]Minnesota State Information

Legal Status: Legal

Citation:
Minn. Stat. Ann. ???? 47.60

Loan Terms:
Maximum Loan Amount: $350
Loan Term: Max: 30 days
Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month)
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot repay with proceeds of another loan by same lender)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $30 NSF fee
Criminal Action:

Where to Complain, Get Information:
Regulator: Minnesota Department of Commerce
Address: Division of Financial Examinations, 85 7th Place East, Suite 500 St. Paul, MN 55101
Phone: (651) 296-2135
Fax: (651) 296-8591
Regulatory Contact: Kevin Murphy,, Deputy Commissioner
Regulator Website
http://www.commerce.state.mn.us/
[/quote]


lrhall41

Submitted by PDLFREE on Fri, 12/08/2006 - 09:53

( Posts: 1245 | Credits: )


Ashley2006,

If you could help me put together letters to these people, as far as basic wording, that would be great, otherwise I can figure out something to write. I figure I will mail them out certified so I am certain of receipt.


lrhall41

Submitted by artwriter06 on Sun, 12/10/2006 - 07:27

( Posts: 23 | Credits: )


Thank you Ashley2006 - I have found a letter there and will tweak it to my needs. Thanks for all your help :D


lrhall41

Submitted by artwriter06 on Sun, 12/10/2006 - 08:31

( Posts: 23 | Credits: )


I have been browsing the blog and noticed a company by the name "T&C" come up regarding PDL consolidation - how can I get contact information for "T&C" and who are they?


lrhall41

Submitted by artwriter06 on Mon, 12/11/2006 - 13:40

( Posts: 23 | Credits: )


Brownsugar, thank you for the info on T&C. I did a search on Dex.com and found the phone number - will they help me even though I'm in Minnesota? Or is it only for those local of Alabama (maybe thats a dumb question, but I want to be sure they can help before I call).


lrhall41

Submitted by artwriter06 on Mon, 12/11/2006 - 14:54

( Posts: 23 | Credits: )


I have been looking on the web and the only Town and Country that comes up is either insurance related or mortgage related...is this correct?? If so, then I am screwed because we are not able to take out any equity on our home :( Is there a different T&C that only deals with debt consolidation or is this one and the same?


lrhall41

Submitted by artwriter06 on Tue, 12/12/2006 - 09:17

( Posts: 23 | Credits: )


i got a call and and email from cash transfer centers they said they will mesh up my credit they called my department payroll i mean to get the correct information for me. my payroll want give me any information unless i give them my employee number do you think they are tring to get my check they told me call them to make arrangements, or they will mess up my credit., with teletrack tell me form what the next step to do.


lrhall41

Submitted by on Tue, 12/12/2006 - 21:22

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Don't worry about Cash Transfer Centers (CTC). They have sent me a wage assignment letter but they are doing business illegally in my state and need a court order to issue the wage assignment (per my payroll department) - which they will have a hard time getting seeing as how they are not licensed to business here. I also sent a letter of revokation stating that I revoke any and all wage assignments - their office is in Canada so I wasn't able to send it certified (according to the post office). I recently found out that they have an address in PA - so I sent a letter there as well. Check to see if CTC is doing business illegally in your state - my suspicion is that they are. I would also send the revokation letter. You can find templates by doing a search in the forum on this website.


lrhall41

Submitted by artwriter06 on Tue, 12/19/2006 - 14:38

( Posts: 23 | Credits: )


I have been getting emails from Mount Oread threatening me for "further action" - I have sent each of my payday loan companies a letter explaining my situation and offering to work with them to set up payment arrangements as well as requesting every and all wage assignments in order to do so. I've tried talking to them on the phone but the woman was screaming and cursing at me so I hung up. I have explained to her in the emails she sends that I will not set up anything unless it is in writing and can stand up in court as a legal document. It is my assumption that because they are not licensed in MN that they will have trouble getting ANY kind of document from the courts. I am so frazzled over all of this that I've considered filing bankruptcy. :( I don't know what to do next...do I just wait it out and see what kind of a response I get from the certified letters? And should I file a complaint with the STate of Minnesota against this company's unethical "verbage" on the phone (harassment)? If so, how would I go about doing that? Any help is greatly appreciated.


lrhall41

Submitted by artwriter06 on Wed, 12/20/2006 - 09:55

( Posts: 23 | Credits: )


I meant to say that I revoked, not requested, any and all wage assigments in order to settle my debt - that's what I get for not proofing my posts - at least my letters were correct!


lrhall41

Submitted by artwriter06 on Wed, 12/20/2006 - 09:56

( Posts: 23 | Credits: )


So this will be my problem too. I also have a CTC $1300 loan that I took out 2 weeks ago. I'm in Calif.
I've cancelled my checking account, and just waiting for their calls to start coming. I contacted a lawyer and I just started the process of BK which will be filed in 3-4 months. I'm sure they will start the calls soon in January.


lrhall41

Submitted by hdftboy2007 on Wed, 12/20/2006 - 10:17

( Posts: 3 | Credits: )


I'm having a similar problem with Cashnet500. I live in Florida and I don't think they have a license in FL. Does anyone know where I can send a letter revoke any and all wage assignments? Does that really work? They are a bunch of rude people there and have continued to call me after I verbally and emailed them asking them to stop calling me, I also requested all future contact be made via email or mail only! I had 2 calls this morning....sor far no more after my last email. I closed my account and have a new one with the same back does anyone know if they can get into that one?


lrhall41

Submitted by jessie61520 on Thu, 12/21/2006 - 12:00

( Posts: 33 | Credits: )


I am so glad I am not alone on these dumb payday loans. I would take small loans, pay their fee, then my car would break down, or husband was out of work, and had to postpone the payments. during that time they charged me an arm and a leg. So I borrowed 200.00 then they say I now owe over $2000.00. Only giving me the option to pay 2 lump sums. I told him he was high on drugs. I also demanded he send me oonfirmation of our phone call.. He did not. I live in MN. THese payday loans are out of state of course. they are threatening jail to me and garnishing my wages. I am the only parent working. I do get energy assistance. Is it law they cannot garnish if your getting county assistance? These people are mean. I totally understand to make payments, but the charges they tack on, is rediculous. I borrow 200. Then they say I owe 2000.00. ANy help or ideas from anyone?


lrhall41

Submitted by on Thu, 04/15/2010 - 19:58

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No one can send you to jail for debt. According to Minnesota Statute (Minn. Stat. ? 571.925) your wages can be deemed exempt from garnishment if you are receiving aid based on need such as the Minnesota Family Assistance Program. In order to get your assistance exempted you need to fill out a form and send it to the creditor's attorney and to the garnishee. However, the creditor may be able to go to court and get the exemption overturned in which case you will be liable for attorney fees, court costs, and fined at most $100. If you want to be certain that you can get the exemption for the type of assistance you are getting, you need to consult a lawyer in Minnesota.


lrhall41

Submitted by OVLG Attorney on Fri, 04/16/2010 - 13:22

( Posts: 511 | Credits: )


Quote:

Originally Posted by Anonymous
What if I borrowed $1,000 from you, and you didn't pay me back? Would you get mad at me? Try realizing the problem is you, not them. You are a dead beat.


I didn't borrow a 1000.00/ it was only 200.00. but they killed me with the interest charges. Highway robbery.


lrhall41

Submitted by on Mon, 04/19/2010 - 11:10

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Quote:

Originally Posted by Anonymous
What if I borrowed $1,000 from you, and you didn't pay me back? Would you get mad at me? Try realizing the problem is you, not them. You are a dead beat.


I have offered till I was blue, to pay back what I borrowed, not an extra 1000.00 added on. I am not a dead beat. I work for a living. I have a husband who has had no work, due to this lovely economy our president put us in. I work two jobs, and trying to pay what I borrowed, not the extra fees.


lrhall41

Submitted by on Mon, 04/19/2010 - 11:13

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