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Wage Assignments: Know your Rights
Wage assignments are a way that some lenders, particularly payday lenders, take a portion of a borrower’s wages to collect on a loan in default.
As of January 1, 2017, lenders have to comply with new & improved standards for how they notify borrowers about a wage assignment.
Check out this fact sheet to learn more about borrowers’ rights when their wages are assigned, and please share it with anyone who has taken out a payday loan.