Payday Loan Collections in Texas
Date: Sat, 01/09/2010 - 17:10
Back in late 2007, my dad had fallen seriously ill and I was being called to travel out of town once a week. By 2009 it was twice a week and my truck was on the verge of breaking down a lot. I ended up having to pull payday loans just to cover repairs and expenses. As the year went on, work was scarce and I was only working 32 hour weeks and taking care of my dad. The lenders continually pulled money out of an account that was already drained. I ended up closing it and had no choice but to default on the loans.
Now things have picked back up at work (My dad passed away in July) and I got a voicemail and an email from Loan Shop. On the voicemail they said that my employment has been verified and they are preparing to take action. The email had an attachment but it was so garbled when I opened it there was a lot I could not make out. Now I know I borrowed 300 from Loan Shop back in early 09 and had paid quite a bit of interest before closing the bank acct.
What are my options here? Can they garnish my wages? I have yet to call these people or answer the phone as I know it is a method to confirm you are the person they are calling.
Now things have picked back up at work (My dad passed away in July) and I got a voicemail and an email from Loan Shop. On the voicemail they said that my employment has been verified and they are preparing to take action. The email had an attachment but it was so garbled when I opened it there was a lot I could not make out. Now I know I borrowed 300 from Loan Shop back in early 09 and had paid quite a bit of interest before closing the bank acct.
What are my options here? Can they garnish my wages? I have yet to call these people or answer the phone as I know it is a method to confirm you are the person they are calling.
I'd suggest you to look the lenders up with the Secretary of Sta
I'd suggest you to look the lenders up with the Secretary of State's office. Since Texas follows the CSO model some of these lenders can operate as CSOs which make them fully legal. A legal lender can sue you and get a judgement against you. And, though wage garnishment isn't allowed in Texas, the lender can still garnish your bank account.
However, I think they are talking about the wage assignment form that you have signed. Remember that its a voluntary authorisation and can be revoked anytime.
