PayDay Loan Help Needed
Date: Tue, 09/22/2009 - 11:26
I am in Florida and have several payday loans that I am in default on. All were obtained over the internet. Actually, Kenwood by phone.
1. Checkngo online - $500 borrowed, owe $390 (paid $165)
2. Checkngo online - $500 borrowed, owe $585 (paid $0)
3. Kenwood Services - $300 borrowed, owe $455 ($450 so far)
4. Tremont Financial - $500 borrowed, they say I owe $810 (paid $0)
They can no longer access my previous bank account and they are pissed. Checkngo has only called a few times so far, Kenwood hasn't contacted me at all (sure they are just ecstatic about tacking on their fees each time) and Tremont Financial said they are going to contact my employer to debit my paycheck for the full $810 owed if I don't pay them by 9/30/09.
I am calm right now but definitely freaking out inside. I don't know what to do next. I have opened a new bank account, step one. What's step two? Luckily I answer the phones at work and have been successful in diverting them or holding them off at least.
I have a feeling Kenwood is illegal but not sure what I should do about that.
And can Tremont really have my paycheck assigned to pay them off?? HELP!!!
Thanks,
VH:confused:
Kenwood and Tremont aren't licensed to lend in FL. CLICK HERE to
Kenwood and Tremont aren't licensed to lend in FL. CLICK HERE to find out how to deal with illegal lenders. Checkngo are legal lenders and will sue you. If you hadn't defaulted you could have requested an EPP (Extended payment plan) but that is only if you are current. Anyway, I wouldn't give them your new account information, instead I would pay them via the mail with money orders, but first you're going to need to contact them and make some type of payment arrangements with them. They will resist at first but make it clear you are unable to pay the full amount at once.
What Tremont was probably talking about is a wage assignment, they and other pdl's usually have you sign something in the contract (in small print) which states if you default on the loan they can attach your wages, however, you can revoke that at any time. If you read the topic (I gave you a link above) on how to deal with illegal payday lenders it explains wage assignments and how to revoke them, just make sure you follow the steps.
So I have a really dumb question. Do you send the revocation of
So I have a really dumb question. Do you send the revocation of wage assignment to the PDL or your employer. I emailed mine several weeks ago and while they haven't tried to get anything from my employer, they have never acknowledged they got my email. Should I also send it to my payroll department.
Print out a copy and take it to your employer just in case, if t
Print out a copy and take it to your employer just in case, if they're threatening then that means they aren't going to honor it and probably try to evoke a wage assignment anyway.