Tremont Financial, Wage Assignment and what can I do now.
Date: Tue, 04/17/2007 - 11:19
I had a 300$ loan with Tremont Financial which I took out in Nov 2006. I have more than paid back the balance, but that is not the point (at least not yet). I closed my account that Tremont was debiting and they said I had a balance of $200. I asked for western union info and meant to send it, but never did. I then looked at how much I had paid in fees (at that point it was close to $500) and figured they had their money, they weren't getting more.
I sent an email telling them to contact me only via email and revoking all authorizations, but I never sent it via certified mail, and did not send to my payroll department, as I was under the impression that you had to have a court order to garnish wages, and this would not be acceptable.
Well, I got a letter from my payroll department including the loan document with the wage assignment. They took the $ 200.
Here is what I need to know
My loan was $ 300. I paid $ 740 in fees, etc.
1)What rights, if any do I have to recoup my $ 440?
2) Is there anything I can do with my employer to tell them that they shouldn't have taken a wage assignment a legal document for a garnishment?
3) I'm paid in full (at least I damn well better be) with Tremont, should I just consider it a lesson learned and chalk it up to a very expensive lesson?
I have gotten lots of great advice from the folks here, so I thought I would throw this out for consideration.
Thanks!
Have you filed complaints with the AG in the state you lived in
Have you filed complaints with the AG in the state you lived in when the loan was taken out? As far as getting your money back..I dont know how that will work...if you had notified your HR dept about the revocation of the voluntary wage assignemt then you would have some recourse
Do you have the contract copy from Tremont Financial in which th
Do you have the contract copy from Tremont Financial in which the terms about wage assignment is to be clearly mentioned? Wage assignments are voluntary so you have the rights to revoke it anytime. They should have your signature on the contract before it becomes binding.
Did you send the revocation letter before the money was debited from your payroll? This letter will be an important proof of their violation.
Unfortunately I don't think you can get the money back from your
Unfortunately I don't think you can get the money back from your employer. They were only doing what they thought you wanted when presented with the voluntary wage assignment. The company, that is another story. If you revoked it beforehand, they had no right to execute it. Good luck with this.
---Tremont and all PD Lenders
Does anyone thing there will ever be a law that bans these types of businesses? I have been involved with PD lenders and have had to wise up and take a bullet more than once to get them paid. It is just sad to me that people are in a bad spot and they are preyed upon. Not to stand on a soap boz or anything, but when do we all stand up and say enough is enough and we are putting you out of business? (or, I'm mad as h*** and I'm not gonna take it anymore... :) )
