Did you know that I, as your bankruptcy attorney can stop a wage assignment even without filing your case?
Credit unions, payday loans, and internet loans to name a few, often make debtors sign voluntary wage assignments so that they can take money from the consumers' paycheck in the event they fail to make the installment payments.
I can stop this!
It's true!
Pursuant to the Federal Trade Commission Trade Regulation
Rules 16 CFR (I)(D) 444.2. The FTC Trade Regulation, in relevant part
provides that:
In connection with the extension of credit to consumers in
or affecting commerce, as commerce is defined in the Federal Trade Commission
Act, it is an unfair act or practice within the meaning of Section 5 of that
Act for a lender or retail installment seller directly or indirectly to take or
receive from a consumer an obligation that:
(3) Constitutes or contains
an assignment of wages or other earnings unless:
(i) The assignment by its
terms is revocable at the will of the debtor, or
(ii) The assignment is a
payroll deduction plan or preauthorized payment plan, commencing at the time of
the transaction, in which the consumer authorizes a series of wage deductions
as a method of making each payment, or
(iii) The assignment applies
only to wages or other earnings already earned at the time of the assignment.
Therefore, We can send certain revocations to your payroll and to your creditor to stop the deductions.
The creditor can then take other steps to collect, but these are thwarted upon filing of the bankruptcy chapter 7 or chapter 13 case.
Call me today if you need help stopping a wage assignment. 312-346-7400 and let us lead you to financial freedom! www.LeedersLaw.com
