It’s easy to get behind on your bills when you are just getting by day to day. In fact, according to the U.S. Department of Health and Human Services, the majority of Americans are just two paychecks away from being out on the streets in the event of an emergency. Medical bills, auto repairs, other sudden expenses, and/or unemployment can quickly throw your finances into disarray leaving you in need of California debt help. When it comes to California debt relief solutions, exploring all available options is the smartest choice, but you need to know your rights and responsibilities as a debtor in the Golden State.
Get the California Debt Relief You Need
Reviewing your options to get out of debt is the first step in reclaiming your finances. For the financially troubled in the Golden State, this exploration begins with knowing your rights and responsibilities under California’s laws. On average, California residents are carrying $5,563 in credit card debt, a level of debt that many people have difficulty retiring.
For California debt consolidation, or other debt relief programs, understanding the state’s statute of limitations is important to knowing your rights under the consumer protection laws. 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 California, the statute of limitations on outstanding debts are:
- Oral Contracts—2 Years
- Written Contracts—4 Years
Debt Collection in California
California follows the set of federal laws dealing with collection agencies known as the Fair Debt Collection Practices Act.
Creditors collecting on debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures.
Maximum Interest Rate a Collection Agency Can Charge: 10%
California Wage Protection: 75% of wages
California Debt Relief from Americor Financial
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. We can help you with the California debt relief plan you need help you to get back on your financial feet. Stop losing sleep at over your debts and take control of your future with the help of Americor Financial.