Living in paradise is not cheap, and for that reason, residents of the Aloha State often find themselves turning to their credit cards to meet financial shortfalls. As a result, Hawaiian residents have accumulated an average household credit debt of $5,965, which leaves many families of the islands looking for Hawaii debt relief. If you contemplating a Hawaii debt consolidation program, or other form of debt management plan, your road back to fiscal responsibility begins with knowing your rights.
Get the Hawaiian Debt Relief You Need
For families living in Hawaii, the state offers protection and programs like Hawaii debt consolidation programs, or other debt relief plans. Understanding the state’s statutes of limitations is important to knowing your rights under the consumer protection laws. Although it varies state by state, the statutes of limitations is a specific limitation on the time in which creditors can file legal action against you for past due debts. In Hawaii, the statutes of limitations on outstanding debts include:
- Oral Contracts—6 Years
- Written Contracts—6 Years
- Promissory—6 Years
In exchange for a lengthy six-year statute of limitations on contracts, the state has strong protections against fraudulent advertising for its residents.
Hawaii follows the set of laws known as the Fair Debt Collection Practices Act.
- Creditors collecting debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures.
- A debt collector cannot try to convince the debtor to pay debt discharged in bankruptcy without clearly disclosing the nature and consequence of the agreement. They also need to tell the debtor they are not legally obligated to pay debt.
- A debt collector cannot attempt to convince the debtor to agree that the debt happened to pay for necessities of life when debt was not for that purpose.
- A debt collector cannot try to convince the debtor to pay a collections fee.
- A debt collector can’t claim it has something of value in its possession in an attempt to convince the debtor.
Maximum Interest Rate a Collection Agency Can Charge in Hawaii: 10%
Hawaii Wage Protection: 100% protection for 31 days.
Hawaii Debt Relief from Americor Financial
You don’t need to lose sleep at night over your debt, but you do need to get control of your finances if you ever want to move on with your life and re-establish good credit. You need to discuss the range of debt management options available to you, and our team of financial experts is standing by to help you with a Hawaii debt relief plan so you can get back on your financial feet. Get the night of good sleep you deserve with the help of Americor Financial.