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Has anyone had thier wages garnished by a payday loan company?

Date: Tue, 03/17/2009 - 16:31

Submitted by anonymous
on Tue, 03/17/2009 - 16:31

Posts: 202330 Credits: [Donate]

Total Replies: 14


I am working to repay all of my internet PDL's - I have 12 and it amounts to over 4000.00 in debt. Obviously I can only pay so much at a time. My fear is that I will get sued and have my wages garnished. Has anyone had this happen?


Send a written statement to each vendor that you are revoking their wage garnishment assignment as of then provide copies of these notices to your HR department. Per law the employer can deny any wage assignments that they have your revocation on - even if the vendor tries to send it through (there is a caveat for certain tax liens and federal debts)


lrhall41

Submitted by nyteri on Wed, 03/18/2009 - 07:47

( Posts: 24 | Credits: )


MMalone wrote.....
Quote:

I live in Washington State. The lenders are CMG Financial Group, Mesa Financial, Paycheck Today, Midland Financial, 500 Fast Cash, Sign My Loan, Paradise Cash Advance, Cash Central, Cash Advance Network, Cash Transfer Centers, Geneva Roth/Loanpoint


Payday lenders need to be licensed in the state of WA to legally lend.

From just a quick glance I can see a lot of illegal lender in that list but give me some time to search the WA database to confirm.


lrhall41

Submitted by nohiogal on Wed, 03/18/2009 - 09:45

( Posts: 2582 | Credits: )


CMG - Unlicensed/Illegal
Mesa - Unlicesed/Illegal
Paycheck Today - Unlicensed/Illegal
Midland - Unlicensed/Illegal
500 Fast Cash - Unlicensed/Illegal
Sign My Loan - Unlicensed/Illegal
Paradise Cash - Unlicensed/Illegal
Cash Central - LEGAL
Cash Advance Network - Unlicensed/Illegal
Cash Transfer Centers - Unlicensed /Illegal
Geneva Roth/LoanPoint - Unlicensed/Illegal

How much have you borrowed and paid to each one. For the unlicensed lenders you only owe the amount borrowed.


lrhall41

Submitted by nohiogal on Wed, 03/18/2009 - 09:54

( Posts: 2582 | Credits: )


Hi,

I'm also in the same situation. A collection company call PDM and Associates is threating to garnish my wage for a Payday loan company call Cash Jar. I have 4 outstanding payday loans and I need to know if they are licensed to do business in California.

Cash Jar - $750.00 - I've already paid them $787 just in intrest
Ameriloan - $400
Star Cash Processing - $400
Midland Financial - $400

Can Cash Jar garnish my wage without a court document? I work in a hospital and I'm pretty sure that my payroll department will not honor any wage garnishment without the proper court order. Please help!


lrhall41

Submitted by on Thu, 04/01/2010 - 14:48

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Quote:

Originally Posted by Anonymous
Hi,

I'm also in the same situation. A collection company call PDM and Associates is threating to garnish my wage for a Payday loan company call Cash Jar. I have 4 outstanding payday loans and I need to know if they are licensed to do business in California.

Cash Jar - $750.00 - I've already paid them $787 just in intrest
Ameriloan - $400
Star Cash Processing - $400
Midland Financial - $400

Can Cash Jar garnish my wage without a court document? I work in a hospital and I'm pretty sure that my payroll department will not honor any wage garnishment without the proper court order. Please help!


to get a legal garnishment they would have to get a court order.that means suing you in your town,county,village or bourough.they woul also have to win in court.i doubt an unlicensed bottomfeedingcollector for unlicensed illegal pdl's can get a proper judgement.


lrhall41

Submitted by paulmergel on Thu, 04/01/2010 - 15:03

( Posts: 15514 | Credits: )


While I love colorful adjectives as much as the next guy, you need to take some practical steps beyond what Paul wrote about. The issue is not whether payday lenders can get a "proper judgment." It's whether they are going to dress up a wage assignment with enough legal jargon to trick your employer into thinking he has to comply. Remember, your boss isn't going to pay his lawyer $400 an hour to find out what to do with your problem. So you have to educate him. First, fax a letter to Cash Jar revoking any wage assignments you may have given them and keep a copy for yourself. Under FTC regulations a wage assignment in a credit agreement must be revocable at any time or the entire loan contract is void. (Don't let the Cash Jar guys give you any crap about being in Belize either. They might use offshore call centers but the whole thing is run from the U.S. Besides, even if they were REALLY offshore the treaty that allows offshore lenders to make loans here still requires them to follow federal laws, even though they are free ignore the states.)Second, tell your boss you are the victim of predatory loans and they might send a wage assignment request to him, and they might try to make it look like a legal garnishment. Give him a copy of the revocation letter you sent too. Better to get ahead of this than to be fighting after the fact to get your money back.Third, if they do send the assignment after the revocation, file a complaint with the FTC. They probably won't do anything about your case alone, but if they get enough complaints they will eventually investigate like they did with Cash Today and they have a lot bigger budget and more authority to do that investigation. And since these guys are really just pretending to be offshore, they'll eventually nail them . . . just like they did to Cash Today.


lrhall41

Submitted by on Sat, 04/03/2010 - 14:55

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Quote:

Originally Posted by Anonymous
While I love colorful adjectives as much as the next guy, you need to take some practical steps beyond what Paul wrote about. The issue is not whether payday lenders can get a "proper judgment." It's whether they are going to dress up a wage assignment with enough legal jargon to trick your employer into thinking he has to comply. Remember, your boss isn't going to pay his lawyer $400 an hour to find out what to do with your problem. So you have to educate him. First, fax a letter to Cash Jar revoking any wage assignments you may have given them and keep a copy for yourself. Under FTC regulations a wage assignment in a credit agreement must be revocable at any time or the entire loan contract is void. (Don't let the Cash Jar guys give you any crap about being in Belize either. They might use offshore call centers but the whole thing is run from the U.S. Besides, even if they were REALLY offshore the treaty that allows offshore lenders to make loans here still requires them to follow federal laws, even though they are free ignore the states.)Second, tell your boss you are the victim of predatory loans and they might send a wage assignment request to him, and they might try to make it look like a legal garnishment. Give him a copy of the revocation letter you sent too. Better to get ahead of this than to be fighting after the fact to get your money back.Third, if they do send the assignment after the revocation, file a complaint with the FTC. They probably won't do anything about your case alone, but if they get enough complaints they will eventually investigate like they did with Cash Today and they have a lot bigger budget and more authority to do that investigation. And since these guys are really just pretending to be offshore, they'll eventually nail them . . . just like they did to Cash Today.



i like it,but you forgot a point that is a giveaway where any employer worth their onions knows.garnishments are not faxed.they are sent certified mail most often.almost all wage assignments are faxed,unless the lender is a storefront.i would also give the letter to your HR or payroll person before sending,or faxing to the pdl.you are right though as alot of illegal lenders will try that tact.best to have your bases covered.


lrhall41

Submitted by paulmergel on Mon, 04/05/2010 - 06:32

( Posts: 15514 | Credits: )


Quote:

Originally Posted by paulmergel
to get a legal garnishment they would have to get a court order.that means suing you in your town,county,village or bourough.they woul also have to win in court.i doubt an unlicensed bottomfeedingcollector for unlicensed illegal pdl's can get a proper judgement.


I'm curious, did you find out if Cash Jar and Ameriloan are legal?


lrhall41

Submitted by on Tue, 06/22/2010 - 11:05

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