Looking for debt relief in the state of Pennsylvania? With so many types of debt relief programs available to Pennsylvanians, how do you know which one to choose? That all depends on how much debt you have and what kind of debt you have – secured or unsecured. Lucky for you, you’ve come to the right place. Americor experts can go over your debt and let you know what’s available so you can make an informed decision.
Living under the constant cloud of insurmountable debt is a difficult proposition. You pay so much towards your credit cards and student loans that you barely have enough left to support yourself and your family. You long for financial freedom, but the way things are going, it may be years before that’s attainable. Or is it? Let’s take a deeper look at debt in Pennsylvania and what you can do about it.
When it comes to credit scores, Pennsylvania ranks 19th in the nation, with an average score of 709—a fair amount higher than the national average. Pennsylvanian borrowers have an average of $4,629 in credit card debt, with a delinquency rate of 0.54%. The per capita income in Pennsylvania is $30,137 a year, and the poverty rate is 12.9% – only slightly higher than the national average of 12.7%.
For most contracts in Pennsylvania, the statute of limitations is four years, which is less than most states. That means creditors have four years from the start of your delinquency to file a suit against you for payment. For negotiable instruments (documents that guarantee the payment of a certain amount of money at a certain time), the statute is six years, and for contracts under seal, the suit can be filed anytime within 20 years.
If you want to get out from under your credit cards and other financial obligations, you need someone who understands not just debt in general, but Pennsylvania’s debt laws in particular. Your residence can affect your course of action as much as your financial situation. How are Pennsylvania debt relief options different from those in other states? It’s important to get someone who knows how things work in Pennsylvania and can help you accordingly.
It’s time to close the window on debt. Our financial experts can help you get the help you need. We’ll help you consolidate your debt into a single, manageable monthly payment and put you on a plan that can make you debt-free in as little as 24 months. Call us today for a free consultation and see how Americor can help you.