If you reside in Connecticut and are living in debt, you need to know the laws that govern your rights and responsibilities in regards to your creditors. There are plenty of programs designed to provide Connecticut debt help from reorganization plans to debt consolidation programs that allow you to get ahead of your finances with a financial plan that helps pay down your bills over a period of time. Getting out of financial problems is not easy, but with good advice, a thorough understanding of your rights, and the determination to retire what you owe, Connecticut debt relief is right around the corner.
Get the Connecticut Debt Relief You Need
For those who are financially troubled in Connecticut, reclaiming your life begins with knowing your rights and responsibilities under Connecticut’s laws. On average, Connecticut residents are carrying $6,453 in credit card debt, which is a debt that many people have difficulty retiring.
For Connecticut debt consolidation, or other debt relief programs, 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 statute of limitations is a specific limitation on the time in which creditors can file legal action against you for past due debts. In Connecticut, the statute of limitations on outstanding debts are:
- Oral Contracts—3 Years
- Written Contracts—6 Years
Connecticut follows the set of federal laws known as the Fair Debt Collection Practices Act.
No creditor shall use any abusive, harassing, fraudulent, deceptive or misleading representation, device or practice to collect or attempt to collect any debt.
Maximum Interest Rate a Collection Agency Can Charge in Connecticut: 8%
Connecticut Wage Protection: 75% of weekly disposable income (income after taxes), or 40 times the state or federal minimum hourly wage, whichever is greater.
Connecticut 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 with a Connecticut debt relief plan that gets you back on your financial feet. Stop losing sleep over your debts and take control of your future with the help of Americor Financial.