Can payday lenders take money from my pay check?

What happens when you apply for a payday loan, the lender get you signed in a voluntary wage assignment. By signing this paper, you authorize them to withhold money from you paycheck if you default.

Most of the time, the format of the agreement does not meet the legal standards. Digital signature is not valid on the wage assignment paper, hence your payroll department can dishonor the notice.

Moreover, you have the right to revoke it any time. You need to send them letter and inform them that you are canceling the voluntary wage assignment deed that you signed earlier. Hence they cannot take money from your paycheck.

BTW, why are you asking the question? Do you have any problem dealing with your lenders? Please share your experience with us.

Well i had called a debt considation place and asked them if they do considation on payday loans. The lady said that they didn't and i asked her if i didn't pay at the time they were due what would happen. She said that they would automatically start taking it out of my pay check. They is why i am scared of calling t&c and talking to them about it.

Call T&C and talk to them. I have been with them since December and they have been outstanding. The pdl companies will not immediately start taking out of your check. The companies will have to go to court and get a judgement.

Oh, T&C are wonderful, they don't ask any questions other than loan amounts and who they are with.

They don't judge, they are there to help you.

Quote:

Where would I get a letter to send them? I don't know what I say on it.

Visit this thread; you will get some idea on how to write it-

http://forums.debtcc.com/revoke-wageassignment.html

Thanks!

What is I didn't give them then wage assignment at the time of the loan. Can I still send it to them.

Sometimes it is written as fine print too. Please understand this is not the right procedure of voluntary wage assignment, but they consider it to be. If they have threatened you of a wage assignment/garnishment, you can definitely send it out. Use certified mail to send your correspondences.

Please email me a sample voluntary wage assignment to as I need to set something up through my payroll department regarding an online loan that is delinquent.

My email address is

email address removed as per forum rules - Mike

Hi Karen

You might find this thread helpful in your situation. Read the contract you signed with the company. It must clearly mention about wage assignment and it can be revoked by you in writing. Send copies of the letter to your payroll dept and the lending company. Later, you can work out arrangements with them as per your situation.

http://forums.debtcc.com/forums/wageassign-legal.html