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ABC Payday loan is threatening to garnish my wages.

Date: Thu, 02/04/2010 - 09:01

Submitted by Jim DiStefano
on Thu, 02/04/2010 - 09:01

Posts: 23 Credits: [Donate]

Total Replies: 10


ABC Payday Loan called me today and said they have submitted wage garnishment papers to my HR department for the amount of $495.00. I originally took out $300.00 and paid back $450.00 in finance charges. Can they do this? They also emailed me and I responded back that I thought this loan has been more than paid off. I live in PA.

I posted this message in a thread I originally posted last month so if you see it twice I apologize.


Quote:

Originally Posted by Jim DiStefano
Thank you very much for reponding so quickly. Do I still owe them anything since I paid back $450.00 on a $300.00 loan? They are saying that all I paid was finance charges and that I still own the principle plus one more finance charge.


you owe them nothing.being as the oan was illegal you only owe the principle borrowed.meaning you overpaid by 150.00.


lrhall41

Submitted by paulmergel on Thu, 02/04/2010 - 11:13

( Posts: 15514 | Credits: )


Quote:

Originally Posted by Jim DiStefano
I just check my original contact with ABC no where on the contract does it say that they can garnish my wages and I never signed a wage assingment agreement. I emailed them back that information and never heard back from them.


being as they are illegal the contract ain't worth spit.


lrhall41

Submitted by paulmergel on Fri, 02/12/2010 - 07:51

( Posts: 15514 | Credits: )


I was hoping someone could advise me regarding my current situation and what my rights are regarding the repaying of payday loans within my state. I just read about the repayment plan that lenders must obligate to if my debt is 35 days past due. Does that apply only to lenders that are licensed in my state? I have a company (ABC and Payday Loan Yes) threatening to garnish my wages. ABC seems to be more difficult to work with me. I took $350 loan out. I missed two payments and I initially set up 3 payments of $194, but I missed the second one and feel I am overpaying. Also, the website states they cannot lend to residents of Illinois...does this mean they are not licensed? I live in Illinois yet still received a loan....anything would help. thanks.


lrhall41

Submitted by Jenner1205 on Wed, 08/17/2011 - 14:02

( Posts: 11 | Credits: )


I was hoping someone could advise me regarding my current situation and what my rights are regarding the repaying of payday loans within my state. I just read about the repayment plan that lenders must obligate to if my debt is 35 days past due. Does that apply only to lenders that are licensed in my state? I have a company (ABC and Payday Loan Yes) threatening to garnish my wages. ABC seems to be more difficult to work with me. I took $350 loan out. I missed two payments and I initially set up 3 payments of $194, but I missed the second one and feel I am overpaying. Also, the website states they cannot lend to residents of Illinois...does this mean they are not licensed? I live in Illinois yet still received a loan....anything would help. thanks.


lrhall41

Submitted by Jenner1205 on Wed, 08/17/2011 - 14:03

( Posts: 11 | Credits: )


I would say if your state laws say they can not lend to the residents of your state or they have to be licensed in your state then they may be illegal. I would utilize the sticky's posted in the begining of the payday loan help page and I would formally send them a revocation letter. You have to have a court ordr to garnis wages. I would inform my employer of their illegal status and you didn'tauthorize anyone to garnish your wages. Sometimes it is just threats I would file complaints with the FTC, your state's AG, the BBB, and I would let it be know they are violating your rights as a consumer. Un realistic threats are just a way fo them trying to get you to fall under their grasp again don't give in look at how to deal with illegal payday lenders in the sticky's on the begining of te page and read through it. Relax it may get bumpy before it gets calm but don't allow them to take you off your square! You may need to close your bank accounts to protect your money because they may try alternative methods of getting your money!

Best of Luck and please keep us posted!


lrhall41

Submitted by danettere on Thu, 08/18/2011 - 06:16

( Posts: 281 | Credits: )