November 17th, 2008pay day loan?
I had a lot of pay day loans out back in 2006. When i got my taxes i paid a couple of them. Now it’s 2008 and it’s three companies that’s calling me stating that I owe them money which of course is a lot more than what i borrowed. My question is can they start garnishing my wages? Does anyone know or have been in a similiar situation please write back
November 20th, 2008 at 8:39 am
Are they threatening to garnish your wages? Are you refusing to pay the debt?
They would have to get a court order to garnish your wages….so yes, they have the ability to do that….and if the court allows, they will.
You should pay this debt off ASAP, and do not deal with Payday loan services again.
November 22nd, 2008 at 7:48 pm
They can certainly take you to court, and a judge could order your wages garnished. I don’t think that something like that can happen without a court order.
If they do take you to court, and you don’t show up, not only could your wages be garnished, but a warrant could be issued for your arrest.
Even if you can’t pay it back, you need to at least stay in touch with these people and try to work something out.
November 24th, 2008 at 7:33 am
Payday Loans carry a very high interest rate. That is way the amount you owe is higher than the amount you borrowed. Try and get a loan from your bank at a lower interest rate and pay off the payday loans or call them to make arrangements to make monthly payments. And yes they can garnish your wages.
November 27th, 2008 at 5:26 am
They have to take you to court before a judge will allow them to garnish your wages. You would also have to pay the court costs.
In response to a previous post- You CANNOT go to jail if you do not appear for this. If you fail to appear, the judge will issue a default judgement against you and your wages will be garnished a few months after that.
The only way to get out of it is to file bankruptcy. Even if you lie and tell them you’ve filed bankruptcy, they’ll stop calling for a little bit.
November 27th, 2008 at 11:53 am
There are a lot of factors that can go into these payday loans..
Visit the link below and do some reading. This forum is very helpful.. It is not a debt consolidation link as it may look like.. the people on the payday forum can give you a lot of insight
November 28th, 2008 at 10:14 am
I know that can sue you and take you to court.. The extra fees that you owed is the interest added when you didn’t pay back the loan.. There are chances they can garnish your wages if you don’t take care of it right away.. Contact the companies and see if you can do a payment plan..