bank is overdrawn and I think they are ready to be closed

i understand im just scared of this getting worse and me going to jail

you have to go to court first before going to jail.

Tracy, have the confidence and positive approach to deal with your creditors. I know that you can do it!!

thanks ben thats very nice of you to say:)

Tracy, do let us know if you find yourself alone in the negotiation process. We all are with you.

thanks ben and to everyone you all are a big help i really appreciate it..........

I did a sonic loan and closed the account and put a stop payment on the voided check to set up the ACH. I have offered a slow repayment but they are threatening to garnish wages. I live in Texas, what steps should I take?

Hi

A creditor can only garnish the debtor's wages after he has got a court approval. If they can achieve it from the court, then only your garnishment will be termed as legal. The federal Consumer Credit Protection Act (CCPA) permits a creditor to garnish up to 25% of an employee's net earnings.

The provisions of the CCPA are administered and enforced by the Department of Labor, Employment Standards Administration, Washington, DC.

If you wish to seek further clarification of this law and possibly contest this garnishment, you can contact them at (202) 219-8743. Good luck.

I've had some TERRIBLE experiences with payday loans. I have definitely learned the hard way with these people....They are loan sharks, plain and simple. Payday loans should be illegal. Stay away from them. Period. (But of course you probably already know that by now!)

Hi Allyson

I am happy that you have also realized by now.

No you cannot go to jail because usually they do not put people in jail for having bad debt. It is illegal to write bad checks, however your bank would be the one to press charges against you. Usually what happens is the account charges off and then goes to a collection agency, if the debt goes unpaid for a period of time you may receive a court summons that the creditor is seeking judgment against you. On the court date, the judge will rule in favor of the plantiff(Creditor) and judgement therefore will be entered against you (Defendant) You will be given sixty days to pay the debt or make some sort of payment arrangment to pay it back. Failure to do so will end up with a possible garnishment of your paychecks and much more.

Guest, do you not realize that you're responding to a 4 year old post??