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Sep 28, 2017 - 34 minute read

Can united cash loans garnish wages

But before you click on a link, the Federal Trade Commission (FTC), the nation's consumer protection agency, has a few caveats to share. Lenders Don't Always Play by the Rules. The FTC recently sued several online payday lenders for violating federal laws. The lenders allegedly lied about how much their loans would can united cash loans garnish wages, required borrowers to allow the lenders to take money from their bank accounts automatically, and threatened to sue the borrowers or have them arrested for non-payment.

Here's how the scam allegedly played out: The online payday lenders required borrowers to provide bank account information so they could deposit the borrowed funds electronically and withdraw the repayment amount from the account later. The lenders claimed that the repayment amount would be the amount borrowed plus a one-time finance fee, and that this amount would be withdrawn on a particular date.

Instead, the lenders made multiple withdrawals from the borrowers' bank accounts and assessed a new finance fee each time. The result of this scheme. The borrowers paid much more than the stated cost of their loans.

Can united cash loans garnish wages

Com has no knowledge of or control over the loan terms offered by a lender. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to can united cash loans garnish wages. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. Arthritis Health Center.

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Can united cash loans garnish wages

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Can united cash loans garnish wages
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