Massachusetts Debt Solutions

Learn About Massachusetts Debt Relief Programs

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.

Debt is on the Rise in Massachusetts

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.

What is the statute of limitations for debt in Massachusetts?

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:

• Oral Contracts—6 Years
• Written Contracts—6 Years
• Promissory—6 Years

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.

Debt Collection Laws in Massachusettes

Massachusetts follows the set of laws known as the Fair Debt Collection Practices Act. Details include:

• Original creditor or creditor collecting own debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures.
• Debtor collector may contact a third party regarding the debt a limited number of times.

Debt collector and the original creditor cannot:

• Call more than twice a week to the home or call more than twice in 30 days to places other than home, per debt
• Call unauthorized third parties about the debt
• Make more than one home visit in 30 days without consent
• Make any office visits without consent cant attempt to get the debtor to reaffirm discharged in bankruptcy, without conspicuous disclosure of the consequences
• Suggest that they are a lawyer or give legal advice
• Provide all papers in the collector’s possession bearing the debtor’s signature and concerning the debt being collected
• Provide ledgers, account cards, or similar records in the collector’s possession showing the date and amount of payments, credits, and charges on the debt.

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

Massachusetts Debt Law

Massachusetts Wage Protection: $125 per week (75% protected by federal laws)

Massachusetts debt settlement programs vs debt consolidation

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.

Get out of credit card debt with a Massachusetts Debt Relief Program

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.