index page

Revoking Wage Assignment Question

Date: Sun, 08/25/2013 - 21:27
Submitted by on Sun, 08/25/2013 - 21:27
Posts: 202330
Credits:
[Donate]

I am currently being garnished by a wage assignment that isn't court ordered - It's a joint account with me and my wife with a lending company Wise Finance, which is licensed in Illinois. I do understand that sending a wage revocation letter would only grant me a little bit of time before they try to get a court-ordered garnishment. I'm wanting to throw this and other IL-legal installment/brick-and-mortar PDL companies into a debt settlement plan going through a debt consolidation company. Is it possible to still revoke a wage assignment if it's currently being enforced?

Also, with Wise Finance, they bundled short-term life, short-term insurance, Car Club, and the whole works with our loan. I'm also curious if when I work with a debt consolidation company if those "extras" could be eliminated so all I'd be paying would be principal and interest?



List your payday loan companies first. How are you so sure that the payday loan companies are legal?


Submitted by on Sun, 08/25/2013 - 22:01

( Posts: 202330 | Credits: )


since legal lenders will work with you besides wise finance why pay a place.besides there is nothing they can do about the wage assignment.they will take their fee and do nothing.i do want you to list the other lenders as you are not supposed to be able to get more than two brick and mortar loans.i wouldn't go with any pdl settlement/consolidation co for the above reason.a legal lender will work with you.whereas they won't with any 3rd party.think about it.


Submitted by paulmergel on Mon, 08/26/2013 - 07:25

paulmergel

( Posts: 15514 | Credits: )


Here's what I have...

Wise Finance - $2500 (less if I can cut out the "extra junk")
State Finance - $450
USA Payday Loan - $200
Cash 2Go - $200 (The IL office I went to make payments closed and transferred all accounts to a Missouri office)

I've followed the forum for quite a while and I'm almost positive that those four are licensed in Illinois. Wise Finance already has an active garnishment via wage assignment. I'm unsure if I can still revoke said wage assignment and try to see if they can work with me. My wife and I separated and she's planning on filing for a divorce. The Wise Finance loan is jointly owned between us and the other three are in my name solely. Since she's telling me she plans on filing for divorce, I can only expect Wise to go after me solely. If I am still able to revoke the wage assignment, I know that just buys me a couple months since they would take me to court and get a court ordered one. USA Payday and Cash 2Go operate as "payday installment loans" and Wise & State operate as "small consumer loans".

Basically I'm just living on half income since we had a two income household, now it's just myself. The only reason I would consider a debt consolidation program is because I heard the state of Illinois has protections regarding debt management programs. I want to pay them off so I can move on from this trap. If trying to settle myself is the better option, how do I approach the companies with a settlement offer?


Submitted by on Mon, 08/26/2013 - 16:27

( Posts: 202330 | Credits: )


Since she's telling me she plans on filing for divorce, I can only expect Wise to go after me solely.


Well she is wrong there. Divorce will not take the debt out of her name and they will continue to pursue both of you. Divorce decrees mean nothing to the creditors. Family court may assign you the debt which means you are responsible for it...if you dont take care of it they could find you in contempt.


Submitted by SOAPLADY on Tue, 08/27/2013 - 05:53

SOAPLADY

( Posts: 17315 | Credits: )