Payday Loan
Date: Fri, 12/19/2008 - 12:15
I took out an internet paday loan and after 4 cosecutive loans I requested a payment plan to pay it down. (this is the law in the state of Washington. At that time I was denied and they siad I had to continue paying the 90.00 every 2 weeks or pay the orgingal balance of $300.00, $90.00 interest and "other fees totaling $487.00. At that time I put a stop payment on the my account. and Now I am being threatend saying they will garnish my wages without going through court. One person said They were going to contact my employer the other that I was risking jail time! My question is do I have to pay it? and can they do any of the these they have threatend? I also signed anything in person or electronicly.
reply
well this bottomfeeder can't garnish wages without a court order.they can try to put a wage assignment through.that is voluntary and revocable.you also cannot and will not be arrested for owing a pdl.how much was debited total from this pdl?i'm guessing as an internet pdl they more than likely aren't licensed.therefore are illegal.if you paid back the principle borrowed in so-called fees you owe them nothing more.
First, what is the name of the PDL company? Second, I would s
First, what is the name of the PDL company?
Second, I would send them a letter or email stating that you revoke any ACH transactions and wage assignments.
Here is a sample.
Quote:
I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected. |
Washington prohibits crimal action so they can not throw you in jail.
Let us know the name of the PDL and we can help you further.
