If you find yourself struggling with debt in the Commonwealth of Massachusetts, know that you are not alone. Many people are struggling with debt right now with no plan to get debt-free. It’s time to find your plan to get your finances back on the right track with an Americor Debt Relief Program.
Simply put, the cost of living in Massachusetts is one of the highest in the country with the cost of housing 86% higher than the national average. Healthcare, utility and grocery costs are also breaking the budgets of Massachusetts families, which has forced many to rely on their credit cards to help make ends meet. This has resulted in an average consumer debt of $5,565 per household. If you are looking for Massachusetts debt relief information that you can trust, you need to reach out to the experts at Americor for a sound debt management plan designed to get you out of debt.
For families living in Massachusetts, the state offers protection and programs like Massachusetts debt consolidation programs, or other debt relief plans. Understanding the state’s statutes of limitations is important to know 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 Massachusetts, the statutes of limitations on outstanding debts include:
Additionally, the state’s consumer protection laws ensure that collection efforts conform to established norms and procedures that limit the hours and places they can call to reach you for payment.
Massachusetts follows the set of laws known as the Fair Debt Collection Practices Act. Details include:
Debt collector and the original creditor cannot:
Maximum Interest Rate a Collection Agency Can Charge in Massachusetts: 6%
Massachusetts Wage Protection: $125 per week (75% protected by federal laws)
Know the difference between the debt relief programs like debt settlement and debt consolidation. With debt settlement, your credit cards need to be past due for your creditors to be willing to negotiate your debt to a lower amount. With consolidation, a persona loan or line of credit is used to combine all your current debt into one place – usually with a lower interest rate.
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 hope to sleep soundly again. 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 the Massachusetts debt plan that you need help you to get back on your financial feet.