The Centennial State has plenty of debt solution options available for those Colorado residents looking for a way out of their financial issues. Finding the Colorado debt help you need enables you to protect you and your family from financial struggle. Knowing your rights under the law will ensure that your transition from financial struggle to resolution is as seamless as possible.
If you are financially under water and looking for a way to get out of debt, exploring your options includes knowing your rights and responsibilities under Colorado’s laws. On average, Colorado residents carry $6,017 in credit card debt, which is a financial load that many find impossible to get out from under without help.
For Colorado debt consolidation or other debt relief programs, understanding the state’s statute of limitations is a key ingredient in knowing your rights. Although it varies state by state, the statute of limitations is a specific limitation on the time in which creditors can file legal action against you for past due debts. In the Centennial State, the statute of limitations on outstanding debts are:
Colorado follows the set of laws known as the Fair Debt Collection Practices Act. Details include:
Maximum Interest Rate a Collection Agency Can Charge in Colorado: 8%
Colorado Wage Protection: 75% of weekly net earnings or 30 times the federal minimum wage, whichever is greater, including pension and insurance payments
Finding the right path out of debt can be a daunting prospect, so if you need to discuss the range of debt management options available to you, our team of financial experts is standing by to help. We have the Colorado debt relief plan you need to help you get back on your financial feet. Stop losing sleep over your debts and take control of your future with the help of Americor Financial.