can online payday advance companies garnish my wages if i work and live in the state of MD but borrowed in the state of NJ?
Date: Tue, 10/30/2012 - 10:33
They can't garnish your wages. Payday loans are illegal in both
They can't garnish your wages. Payday loans are illegal in both the states.
No, these people basically cannot do jack. They are a little wor
No, these people basically cannot do jack. They are a little worse than gutless tapeworms. Payday lending is illegal in both NJ and MD so in all circumstances, the loans are illegal and the loan contract is invalid.
Always remember that when you are dealing with illegal lenders, the ball is in your court. You set the ground rules and you choose when to pay and how much to pay. For that matter, you can send them a dollar a year and they would just have to basically stand there and see you do it without being able to even cough out loud.
One more thing, in case of illegal loans, you repay nothing more than the principal amount that you had borrowed, no interest or fees. Revoke ACH authorization by sending out copies of the order letter to your bank and to the lenders. After this you can shut down your bank account and open a new one. When you choose to repay them, always do it through money orders or a prepaid debit card.
Could you please post the names of the lenders as well?
You may also want to contact the Maryland Commission of Financia
You may also want to contact the Maryland Commission of Financial Regulation, 500 North Calvert Street, Room 402, Baltimore, MD, 21202. 410-230-6100, [EMAIL="finreg@dllr.state.md.us"]finreg@dllr.state.md.us[/EMAIL]. They along with this great site will help you get out of the payday loan trap. Good Luck!