Thinking ahead-need advice....
Date: Wed, 09/30/2009 - 16:24
Hello,
I am about to close my bank account due to (2) illegal internet PDL's I have out right now; (I live in CA) I keep getting dinged for (2) $90 finance charges every two weeks. I have overpaid on the principle balance on one of my PDL's by $60, and I owe the other PDl company $30. I will be sending in a paid in full request to the PDL I overpaid on, and will send the $30 to the PDL company that I owe it to.
I've been going through a lot of posts on this forum and noticed people talking about wage garnishments. I'm afriad that the PDL companies will garnish my wages from my work once I send them an ACH revocation letter and locse my account. Can they do this??
What steps should I take to prevent this from happening? I just don't want to deal with any of the surprises. I figured since they are illegal they will try everything in the book....
Any help is greatly appreciated!!!!!!!
I am about to close my bank account due to (2) illegal internet PDL's I have out right now; (I live in CA) I keep getting dinged for (2) $90 finance charges every two weeks. I have overpaid on the principle balance on one of my PDL's by $60, and I owe the other PDl company $30. I will be sending in a paid in full request to the PDL I overpaid on, and will send the $30 to the PDL company that I owe it to.
I've been going through a lot of posts on this forum and noticed people talking about wage garnishments. I'm afriad that the PDL companies will garnish my wages from my work once I send them an ACH revocation letter and locse my account. Can they do this??
What steps should I take to prevent this from happening? I just don't want to deal with any of the surprises. I figured since they are illegal they will try everything in the book....
Any help is greatly appreciated!!!!!!!
Quote:Originally Posted by AnonymousHello, I am about to close
Quote:
Originally Posted by Anonymous Hello, I am about to close my bank account due to (2) illegal internet PDL's I have out right now; (I live in CA) I keep getting dinged for (2) $90 finance charges every two weeks. I have overpaid on the principle balance on one of my PDL's by $60, and I owe the other PDl company $30. I will be sending in a paid in full request to the PDL I overpaid on, and will send the $30 to the PDL company that I owe it to. I've been going through a lot of posts on this forum and noticed people talking about wage garnishments. I'm afriad that the PDL companies will garnish my wages from my work once I send them an ACH revocation letter and locse my account. Can they do this?? What steps should I take to prevent this from happening? I just don't want to deal with any of the surprises. I figured since they are illegal they will try everything in the book.... Any help is greatly appreciated!!!!!!! |
They can't garnish your wages without a court order, but they can try to evoke a wage assignment. A lot of pdl's hide a little agreement in their contracts which states if you default on a loan they have the right to evoke a wage assignment, what they don't tell you is, YOU have the right to REVOKE it at ANY time. So, all you need to do to protect yourself is send them an email such as the one below, and print it out and take it to your employer.
The date
Your name and address
The name and address of the creditor
Your account number with the creditor
Dear Sir or Madam,
I hereby revoke your right to use any wage assignment I may or may not have signed with you. You no longer have my permission to use this wage assignment.
Sincerely,
Your Name
