Payday loan company suing for $475 in NV...?

My husband and I took out a payday loan at cashplus in las vegas nv and now they are suing us for the loan, can they garnish our wages?

Payday loan company suing for $475 in NV...?

Yes, they can recover the money they gave you plus the court/legal fees involved in the process.

I would pay them back ASAP.

Payday loan company suing for $475 in NV...?

looks that way:

If I lose a lawsuit, can the plaintiff make me pay the judgment?

If you lose a lawsuit the plaintiff becomes a judgment creditor. You can either voluntarily pay the judgment or the plaintiff can attempt to execute on the judgment against you. To execute means to take steps to get your wages or your property to pay off the judgment. To most common methods of attempting to execute on a judgment are called garnishment and attachment.

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What are Attachment and Garnishment?

Attachment: allows the creditors, with the help of the sheriff or constable, to take personal property such as a car from you and sell it.

Garnishment: allows the creditors to take something of yours in the hands of another person or institution; for example, your employer or your bank.

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Is there any property which cannot be taken by attachment or garnishment?

The creditor cannot take certain property related to basic needs. This property is called exempt property. Included in the property which is exempt under Nevada law (NRS 21.090) are:

75% of your take-home pay or 30 times the minimum wage (currently $154.50 per week) which ever is higher.

Unemployment benefits

Workers Compensation (SIIS) benefits

Welfare benefits (TANF)

Veterans benefits

Social Security and Supplementary Security Income

Social Security disability payments

Amounts necessary to pay court ordered child support or maintenance of a former spouse.

Vocational rehabilitation benefits

Certain federal and state retirement monies

Certain Individual Retirement Accounts

Insurance proceeds, if your annual premium is less than $1,000

One vehicle, if your equity (the market value minus how much you owe) is under $4,500, unless the lawsuit concerned the loan on the vehicle.

A homesteaded house or mobile home, even if you do not own the land. The exemption protects up to $125,000 of the homes value. It can protect up to 100% if the judgment is for a medical bill or you establish allodial title (see Homestead section on this WebSite).The homestead exemption does not apply if the judgment was for the mortgage or a mechanics lien upon the property.

Necessary household goods and yard equipment, (maximum $3,000).

Tools of your trade, profession or business, not to exceed $4,500.

Note: This is not a complete list of exemptions. Consult an attorney to determine if you have any other exemptions.

Payday loan company suing for $475 in NV...?

Yes they can. It is a rather simple process for them to do it. I'm sure that if you look at your loan paperwork that there is a stipulation in there stating that they can and will do just that.

Payday loan company suing for $475 in NV...?

Of course.

Try to avoid those loans in the future.