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Help with Sonic

Date: Sat, 06/20/2009 - 15:30

Submitted by hosie1
on Sat, 06/20/2009 - 15:30

Posts: 20 Credits: [Donate]

Total Replies: 6


Hi! Does anyone have any information of SonicPayday? I have used them for a long time, and I always paid them on time. Right now I have so many payday loans that paying them off (They don't renew) is not a possibility. I borrowed $1500 and I have to pay $1905 in a few days. (This was a 2 week loan) I live in Texas. Does anyone know if they will work with me?


Oh, where do I begin with this one? Sonic is one of the worst ones out there--and will NOT work with you!! They have been banned from lending in several states, including California.
Here's what you need to do: First off, revoke the voluntary wage assignment you signed to get the loan. Write your payroll person/HR dept first thing Monday, revoking any wage assignments. The reason this is so crucial is because Sonic, when they smell the first hint of trouble, will try and cash in on this. I know, because it happened to me--but thankfully my payroll person sent their paperwork back, saying that the only garnishments they do are IRS/state tax and court ordered!! (Thank God!!)
Second, go to your bank and see about getting a new account--and do NOT give the number out!
Third, be prepared for the phone calls, because they will happen. Also, check to see if Sonic has a license to lend in your state, and since they are International, they probably don't.


lrhall41

Submitted by kscornell on Sat, 06/20/2009 - 17:38

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Thanks for the information, but what is a voluntary wage assignment? I know that my wages cannot be garnished in Texas, but did I actually sign a voluntary assignment? Can they really do this?


lrhall41

Submitted by on Sat, 06/20/2009 - 21:23

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Some lenders sneak that into their contracts in very fine print. If I were you, I would simply send them a letter revoking it, certifed return receipt, then show a copy to your payroll dept., just in case, example below.

I hereby revoke any and ALL wage assignments I may or may not have signed with your company per Federal law. I am providing a copy of this letter to my employer.
Sincerely,
Your name


lrhall41

Submitted by Shazzers on Sun, 06/21/2009 - 09:22

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