Wage assignments received from All credit lenders

Wage assignments are different from garnishments. They are not a court order, they are a voluntary wage deduction. You can revoke this simply by sending the creditor a letter stating "I herby revoke any and all wage assignments I may have signed with XX Company." The company doesn't have to go to court to do this, as you've already agreed to it in the contract.

A garnishment needs a court order.

I just mailed a certified copy of a revocation letter to the company in question. I also sent same letter to my payroll department. Do you know how much time this will buy me? I do plan to pay these people off by August of this year? thanks.

If this is an internet payday loan, as long as your payroll dept knows of the situation, then you are fine. They will probably not take you to court as these companies are operating illegally and could never stand up under court scrutiny

Yeah, if they are unlicensed and operating illegally in your state, then they won't take you to court.

You should be fine paying them off in August . . . . Just be sure to pay only what you legally owe them.

Is this an internet pdl? Because if it is a storefront, then your best bet would be to make some sort of payment arrangements with them. They can and will sue to collect.

No, this is not an internet company, this is an actual local pay day loan company. I tried making payment arrangements last week and they told me NO and hung up. I called back today and the same thing, so I guess I wait until they received my revocation and try to set up arrangements once again, correct?

Also, How do I find out if they are licensed in my state?

Contact your Attorney General and they can tell you but if they are a storefront lender, they are liscensed and they are bound by your state laws. I assume that since this company is in IL you are too so here are the laws they are bound by:

Illinois State Information here

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


In your state, the law requires them to allow for repayment plans. Tell them that you have located the laws and are aware of them and if they refuse to abide by them, you will contact your attorney general as well as the Dept of Financial instituions

I have been online searching for all the information I can find and your forum is absoutely awesome!!!!!

I assume they are licensed by the state as well otherwise someone would have shut them down by now. I will call the Attorney Generals office right now to double check. I appreciate all the help you guys have offered.

One last question: payroll has already recieved my request and the creditor should receive my revocation letter in about 2 business days, if they should decide to sue, how long does this process take? and what exactly will I be sue for? Do you think the creditor will be more willing to work a payment plan out once they have received my letter?

As far as the court process, it depends on your area. Where I live you receive a summons. You then have 3 options - Pay in full, request a hearing, or request a jury trial. You must do this within 14 days of receiving the summons or else a default judegement is entered against you.

If you request a hearing, it is scheduled for 4 to 8 weeks out. At the hearing, you are required to go into mediation, where payment plans can be worked out. If a plan can't be reached, you go before the judge and he decides. If you stick to your payment plan, a judgement never shows up on your credit report, but if you default on that a judgement is automatically entered. Then the creditor can file to have your wages garnished.

This is just in my county . . . . It's probably similar in yours, but you could check with your court to be sure.

It depends on the company if they want to make arrangements. Some are just plain mean and will sue at the drop of a dime, while some will bend over backwards working with you to get the debt cleared up.

For all your help, it sounds like I have some time to come up with the money in full and get rid of these characters for good.

What should the demand for wages for the state of Illinois look like? and, do the creditors have to take me to court to get an actual demand? thanks.

I know an intent to assign wages and an actual wage garnishment are two different things. From what I've read in here, wage assignments are volenterialy signed by the borrower and an acutal demand for wages need a court order correct? What does the acutal demand look like, does anyone have an example? Thanks in advance.

I would think it would be different for every county . . . . It would depend on the courts. You may be able to look on your courts website and they may have examples . . . . Or if you receive one and want to check it's validity, call the court.

Well, all of your advice worked. I just received a a NASTY phone call from this creditor. She said "Tia, I hope you have a good lawyer because by the time I finish with you, your gonna owe about three grand."

I immediately hung up the phone because first, I do not discuss personal matters of this nature at work. Well, she called me back and I didn't answer nor did she leave a message.

I assume she is going to petition the court and sue me. After I get off work, I am going to call the corporate office for this creditor to lodge a complaint because this is the same lady that refused to talk to me and work out a payment plan prior to me sending the letter to revoke the wage assignment.

Anyone have any advice on how to handle this situtation now?

Can this creditor still sue me if I send them another letter indicating that I have every intention of paying this bad debit and that unfortunately,I can not pay everything at once. To show good faith, I can send them a check for $100 per week until the debit is paid, will this keep them from taking this matter to court? I always thought, creditiors can't sue if your making payments?

I hate to give ya Bad news about em, they are not a payday loan company, they are an installment loan, I took a $1200.00 loan out with em, they deposited the money and withdrew the $194.00 payment out every two weeks, the first payment did not go through, they WILL and DO call your references, they send out the past due notices every couple days and call you repeatedly, you can threaten whatever you want with em, they sent the wage notice after two days to me, and informed me after 31 days it would be "out of there hands" I did manage to make arrangements and waive alot of late fees, but this loan is NOT a payday loan, I live in Illinois, this is an installment loan, they are licensed to lend money in Illinois and even provided me with their license@ and everything, I reported them to the BBB and everyone I could think of, but it got me no where, this is a legal binding agreement, and the contract SUCKS, I was just desperate and I signed without reading the contract, you have to make arrangements with them, I always did it email, I am current on my loan now but have resorted to Prosper to help me out and after 5 listings I should be funded shortly, it is much better and pretty much the ony option with this company, they are following the guidelines of the State of Illinois, I still wouldn't hesitate to report em to the Illinois Attorney General though!

I contacted my attorney and he explained my options that were available to me:

He said, at this time, they are not obligated to work out anything with me and that they can an will go to court and get a judgement against me to garnish my wages and or property. My other option of course is a BK.

My options are to attempt to work out an arrangement with them. I called lender and spoke to the same NASTY woman who simply stated, I had two options at this point pay the loan in full NOW or she would go to court and by the time she was through with me, I would owe back over $3000.

I couldn't get a word in and hung up and called the corporate office in Plainfield, IL who in turn patched me through to a manager at the very same office the NASTY girl worked in. I spoke to the manager and explained my situtation and that I am a good person who made bad decisions and my intentions were to pay them in full but I needed a payment arangement.

Much to my surprise, she said, "what can you afford to pay and when can we get a payment." So, I agreed to $100 per week until loan was paid, I didn't tell her that I had a part time job and that I plan on paying more than the agreeded amount but I will and my job offers a third check in August so, I will pay the remaining balance and be done with these people.

Great! Just stick to the payment plan and you will be free of this loan in no time!

I have made ALL my contact with them via email, never did I call them, it worked pretty well and I made arrangements to have a portion of my paycheck direct deposited in THEIR account so that I did not have to worry about them taking more then they are supposed to. I do know that the interest rate on these loans is about $9.00 per day, which makes it IMPOSSIBLE to pay off, they did work with me to get it resolved but if I paid over the 8 or 10 months @ $388.00 a month this loan would end up costing me almost $4,000.00, I listed on PROSPER and my loan finally got funded,, I am paying All credit lenders off as soon as I get my funds, in my opinion I would rather pay someone willing to give me a chance @ 28% interest then the 403% interest these idiots with All credit lenders are charging, I fully intend to complain to each and every federal/state agency that I can until they are put out of business. Their collection tactics are absolutely ridiculous, I have already paid $700.00 on a $1200.00 loan and they are telling me my balance if I paid it off today would be $1300.00,, hmmmmm. Big mistake huh?!

What is Prosper?

prosper dot com is a web site where you can get a loan. I did. I wished I would of waited because I should of went with debt consolidation instead.

Hi all, I am currently unfortunatlly dealing with All Credit Lenders. I Want to be done with them, they have started taking out double payments that I did not agree to and they are not doing it on my paydates that we agreed to, causing my account to go red. When you guys set up payment arrangments with them were you able to mail in the payments or what was the results of your dealings with them. Was there any way to get the interested reduced?

Leah, you need to be more careful with the information you provide people. while it is in good intention, it can get people into trouble. i'm referring to you respoinding to post with information about the illinois state law for payday loans. the problem is, the person you were trying to help has a loan with a consumer installment loan, that falls under the Consumber Installment Loan Act of Illinois. i also read someone saying that these are illegal companies conducting illegal loans. i have personally dealt with all credit lenders and know for a fact that all of there locations have licenses posted in each of there stores

I got a payday loan from PLS (payday loan store) in waukegan on grand ave for 800. Well they made it into 2 loans which made it impossible to pay because it was like I was getting charged way more... I sent them a letter t to tell them a bad situation got worse and I couldn't pay them the full amt and could we come up with a payment plan.. They never got back to me.. Just last week they sent in my checks and needless to say they bounced.. Now they have sent a wage assignment to my employer who said I had to take care of it within 2 weeks or by law they have to garnish me.... I don't know what to do... We have currently fell on realllly hard times, we lost our apartment in sept, took the loan out at the end of nov in order to try and get another place (we have been living in a hotel room since sept, which is extremely expensive but we have no money to save and nowhere to go in the mean time) we thought we were going to get approved for an apartment who had a move in special we got denied ( bad credit) and had to pay for the hotel ( currently 300 a week).. I dont know what to do.. I don't want them to take money out of my check like that, I'd rather set up a payment plan that I can afford, which is not much...what can I do?? I'm very lost i dont know anything about any of this, it was a dumb thing but i cant change it now....please help!!!! any advice or knowledge that soemone knows can you please tell me what i can do to prevent anything else horrible from happening.. im tired of taking one step forward and 10 back!!!! please help!!!!

Guest someone more skilled at handling this situation should be responding to you shortly. I do have a suggestion though. Is there anyway you can get another job? I'm thinking if they don't know where you're working, that could buy you some time. If not, maybe a part-time job would help,at least until this gets paid off.

Guest, you might want to start your own thread. Not sure someone will see this one.

I had/have an account with them and I had difficulty with them. (Especially the legal dept). I since have sued them.