Help with debt
Sound Advice for Getting Help with Debt
If you're suffocating under mountains of debt, you're not alone. The economic crash of 2008 put Americans out of work, underwater in their home mortgages, and desperate to find a way to meet their basic needs. Although the big banks got a government bailout in the aftermath of the crash, for consumers there was virtually no help with debt. While the Dodd-Frank Act mandated the formation of the Consumer Financial Protection Bureau, and the CFPB has taken steps to make credit card statements more transparent and educate consumers about everything from student loans to home mortgage rates, consumers are generally on their own when it comes to getting help with debt. Here is advice for those who are suffering.
First, it pays to understand the Fair Debt Collection Practices Act. If you're being hounded by debt collectors, you should know that there's a federal law that protects you from abusive debt collectors. In fact, if a debt collection agency violates the law, you can sue them in federal court and could be awarded up to $1,000. Look for a consumer attorney in Laconia NH to get help with debt collector harassment.
Second, if you're in a position to pay off a portion of the money you owe, it is in your best interest to negotiate a debt settlement with a creditor or debt collection agency. Keep a cool head and offer to pay what you can in exchange for them writing off the remainder of the debt and noting on your credit report that the debt is paid. Get any agreement in writing before you make a payment, and only pay by money order. If you give them personal financial information, you won't get help with debt, but may get unexpected withdrawals from your bank account.
Finally, a debt consolidation company in [statetitle] may be able to help with debt. Before you sign up for help with debt in Laconia NH though, thoroughly check out the company. Many are fly-by-night operations, so look at Better Business Bureau ratings and online consumer complaint boards.
Remember that there are avenues for getting help with debt, and know that many other people and families are facing the same hardships as you are. Ultimately, it is in your best interest to familiarize yourself with the law, pay what you can, and get help with debt for the rest.