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According to the United States’ Bureau of Labor Statistics, food and energy costs are on the rise in the Gem State. As a result, Idaho families are finding themselves sinking further into debt as they turn to their credit cards to meet unexpected expenses. An average credit card balance of $4,410 is borne by the average Idahoan. If you find yourself in similar circumstances and are looking for a Idaho debt relief program, you need to talk to financial experts that you can trust to lift the weight of crushing debt from your shoulders.

For families living in Idaho, the state offers protection and programs like debt consolidation programs, or other debt relief plans in Idaho. 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 Idaho, the statutes of limitations on outstanding credit card debts include:

  • Oral Contracts—4 Years
  • Written Contracts—5 Years
  • Promissory—5 Years

Additionally, the state’s Idaho Collection Agency Act ensures that collection efforts conform to established norms and procedures that limit the hours and places they can call to reach you for a payment.

Debt Collection

Idaho follows the set of laws known as the Fair Debt Collection Practices Act.

A debt collector cannot send mail or call a debtor at work unless a good-faith effort has been made to contact debtor at home and that effort has failed.

Maximum Interest Rate a Collection Agency Can Charge in Idaho: 6%

Idaho Wage Protection: 100% protection for 60 days.

Debt Relief in Idaho from Americor

You don’t need to lose sleep at night over your credit card debt, but you do need to get control of your finances if you ever hope to move on with your life. You should discuss the range of debt management options available to you.

Our team of financial experts are standing by to help you with a Idaho debt relief plan so you can get back on your financial feet. Get relief from debt in Idaho with the help of Americor and our skilled debt professionals.

Idaho Debt Relief Q&A

Get educated on your debt relief options in Idaho

Options for Debt Relief in Idaho

Debt relief in Idaho can come in a variety of forms.

Idahoans have several relief options for debt they might not be aware of. Which one to use will depend on your specific situation. Learn more about each debt relief solution in Idaho to see which one best suits your needs to become debt free.

Debt programs such as debt settlement, debt consolidation loans, debt counseling and bankruptcy are the top ways to become free from credit card debt in Idaho.


Debt Relief in Idaho: Debt Settlement

What is debt settlement as a debt relief option?

Debt settlement is when someone negotiates the total amount of debt owed to the creditors for less than the amount owed. 

Can I settle my debt on my own in Idaho?

Yes. You can work with each of your creditors yourself to settle your debts in the state of Idaho. 

Why would I use a debt settlement company for debt relief?

Debt settlement companies often have relationships with your creditors already, as they deal with them frequently. They also know what to say and how to say it. The average person does not unless they learn the techniques themselves. Creditors and debt collectors will do everything they can to intimidate you to recoup as much of the debt as possible.

This is why most people prefer using a company to negotiate on their behalf to settle their debts for less than what they can do on their own for effective debt relief in Idaho. 

Debt Relief in Idaho: Debt Consolidation Loans

What is a debt consolidation loan for a debt relief option in Idaho?

A debt consolidation loan refers to moving multiple high interest debts over to a lower interest loan. 

Does debt consolidation hurt my credit?

Generally, your credit will not be negatively affected by debt consolidation except for having your credit run to get the new loan. Just be sure not to continue using the credit cards you pay off, this is counterproductive to getting debt free and may affect your credit in the long run as you slowly run out of available credit.

Debt Relief in Idaho: Debt Management 

What is debt management as a debt relief option?

Debt management is a debt relief tactic in Idaho that uses credit counselors to negotiate lower interest rates on your debts. Oftentimes this is through non-profit organizations.

You will still back back the full amount of debt you owe but with lower interest rates you can pay it back faster having more money going towards the principal of the debt and not the interest.

Debt management debt relief is also known as debt counseling in many situations.

Debt Relief in Idaho: Bankruptcy

How do I file for bankruptcy debt relief in Idaho?

Filing for bankruptcy requires paying lawyers and legal fees. There are also different types of bankruptcy options such as Chapter 7 and Chapter 13. Bankruptcy should be seen as a last resort option. Most times it’s not even the best debt relief option for Idahoans. Be sure to explore less damaging debt relief solutions in Idaho before going down this road.


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