Wage Assignments: Know your Rights

Resource Overview

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.

More Related Resources

Fact Sheet: Protect Savings for People with Disabilities

The ABLE (Achieving a Better Life Experience) program eases the financial strains faced by...

Read more

Car Title Loan Legislative Resources

Car title loans prey on Illinoisans with crippling interest rates as high as 304%. These loans trap...

Read more

Fact Sheet: Illinois needs a Strong CFPB

The Consumer Financial Protection Bureau (CFPB) reins in predatory practices in mortgage lending,...

Read more