Legal Question in Consumer Law in Illinois

wage assignment on a personal loan

I took out a personal loan with a company and at the time was working at a different job. All of the financial info for that loan was based on that previous job. I have not been able to keep up my payments due to legal fees incurred secondary to a pending divorce. Can this loan company wage assign me at the new job or is it based on the job which I had at the time I qualified for the loan?


Asked on 3/12/08, 10:29 pm

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: wage assignment on a personal loan

Wage Assignments are voluntary, you can cancel them at any time. But if you owe them money and don't pay, they will sue you sooner or later for the money and garnish your wages, which is NOT voluntary. If they do not know your present place of employment, they would have a difficult time executing the wage assignment.

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Answered on 3/24/08, 6:27 pm


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