Frequently Asked Questions

Can a Lender Garnish My Wages?

The short answer to this question is no they cannot garnish your wages. The lenders have you sign a wage garnishment form when you borrow the money but this form is mainly to keep you from defaulting on the loan. In order for a lender to truly garnish your wages they must get a court order and this is providing the lender is licensed in your state to begin with. Only the Federal Government can garnish someone’s wages without a court order, per the FTC.

How Long Do You Wait to Pay My Lenders?

Most companies out there wait for a period of two to three months or more before any of your lenders receive one dime. We start working with your lenders upon your enrollment and give you two weeks to make your first lender payment. This way we can get agreements from your lenders and start paying them upon your first payment. Lenders do not wait for months at a time to get paid and one of the reasons lenders prefer to work with us is we don’t make them wait for payment.

Will Payday Lenders Still Call Me?

Upon enrollment we will issue 4 documents to your lenders and one of them includes a cease and desist order. We actually take over your debt and start working with the lenders immediately to get a payment resolution in place. This ensures the calls are next to none. Some lenders are pretty aggressive but so are we. Also, we have worked with virtually every lender out there and have built a good reputation with them so it’s easier for us to resolve a client’s account versus lenders who hold money or don’t pay these lenders. Payday lenders have every right to try and contact you in order to collect debt which is owed to them as long as they adhere to the Fair Debt Collection Practices Act Guidelines.

Do I have to Close my Bank Account?

As you know, lenders have access to your account and if you are joining our program they must have their access to your account revoked. With this being said you will need to put a block on the lenders from accessing your account. 90% of our clients do this by speaking to the branch manager of their bank and block the lender from taking any further money. Again its’ done by speaking to the branch manager only. Its our experience that if you speak to anyone else they will try to get you to pay for a “stop” payment. This is not what you are doing. 10% of our clients will close the account and open a new one so it’s your choice. We will now be paying the lenders from now on and you will not. We will also send them an ACH revocation in writing, legally revoking their access.

How Soon Do You Start Contacting My Lenders

We start contacting your lenders on the date you put down on the enrollment form. It takes a several hours to set up each client file but all documentation is created and issued to the lenders that day. After 24 hours or so, we start calling and beginning the negotiations.

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