lol a wage garnishment can not be done without legal authority, in other words you would have to have a judgement brought against you by the lender and then after a few years of non payment/unresponsiveness the court may garnish 10% of your wages until the debt is paid off. This process will require you to hire a lawyer which will likely cost much more than the loan is worth.
However, you could theoretically set your direct deposit to deposit a percentage of your paycheck into the lenders bank account, but this can of course be undone at any time.
Overall, I would say that using someones wages as collateral would not be a good idea at all.
Topic: Long Term Request: 1.5 BTC... details inside... open to ideas ! (Read 917 times)
October 10, 2016, 08:14:33 AM
Would you be OK with the lender working out an agreement with your HR department to garnish your paycheck should you default? That would be considered collateral..
So repaid by x date. x date passes so payments start if not paid in full by x date ?If that's the case, ya. But not sure how something like that wold even be done or could be done.
October 10, 2016, 08:11:05 AM
Would you be OK with the lender working out an agreement with your HR department to garnish your paycheck should you default? That would be considered collateral..
October 09, 2016, 04:23:03 AM
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