Living with debt is a difficult thing. You can’t afford to keep up with your monthly payments and pay your bills and feed your family at the same time. Maybe you’re in danger of falling behind. Maybe you’re already behind and worried about what your creditors will do to you if you continue not to pay. Either way, you need help. Here are some things you need to know about Nevada debt relief.
Nevada Debt Statistics
The average Nevada resident has $4,851 in credit card debt—slightly less than the national average of $$4,965. Unfortunately, Nevada also has one of the highest delinquency rates in the nation, ranking #8, with 0.7% of debtors overdue on their payments by more than 90 days (compared with 0.57% for the nation as a whole).
Nevada also has an average credit score of 677, which is OK, but not great—and significantly lower than the national average of 696. The average income is $27,253 per person, but the poverty rate is 13.8%, compared with 12.7% for the nation.
The statute of limitations for debt in Nevada is six years for written contracts and four years for oral contracts. Promissory notes have a statute of three years, while credit card accounts and other debts with open-ended balances have a limit of four years. Creditors may still attempt to collect on a debt after the statute has run out, but they cannot do so through legal channels.
Nevada Debt Consolidation and Other Solutions
As you can see, debt and debt law is different in every state. Therefore, debt resolution requires a personalized approach. You can’t try to shoehorn a debt from Nevada into the same solution you use in, say, California or Arizona. It’s important to find someone who knows debt law for your state well and can find the solution that best suits you.
Americor Can Provide the Nevada Debt Help You Need
At Americor, we know Nevada debt law backwards and forwards. We have years of experience dealing with debt situations of all types and can deliver the personal approach you need. We can help you get your debt under control and get back on the road to financial freedom. Contact our experts for a consultation.