Pay Day Loan Outstanding - Toronto, Ontario (CANADA)
Hi,
I wonder if someone can guide me to the right direction. I live in Toronto, Canada and I took out a pay day loan for $700. On the my payday I was supposed to pay it back but due to some financial reason I could not pay it back. They want $1200 now. It has been 5 months and till now they have been calling me and I have not replied as I did not have the capacity to pay back.
I got a voice mail today that I need to get in touch with them otherwise my file will be sent to court. From the paperwork I signed and I do have copies, I did sign one document which would aasign my wage to them. I have not received anything from my HR till date. I am presently under 1 wage garnishment from another company for which I have paid off 90% off.
I have 2 questions:
Will they take me to court and what are my options?
If my wages are garnished, how much much would have to pay. I know presently I am getting a 20% deduction from my net pay. Is there a law in Ontario that stipulates a certain amount if there is currently a wage assignment and another one kicks in.
Right advise will be greatly appreciated!!