After working in the credit industry for some time, I have seen quite a few debt practices and debt collection efforts that boggle my mind sometimes.
If you are looking for government help with credit card debt, you're reading the right article.
I'm going to list some factors that can protect you from your creditors and collection agencies, as well as keeping your mind sound with this whole situation of your past due debts and explain government help with credit card debt.
So, the question is: Is there government help with credit card debt? The answer is yes and no.
Yes, you can get your debt legally erased if you have over $10,000 in unsecured debt.
This means if you have over $10,000 in debt, it can be legally erased with no ramifications against you.
However, if you have less than this amount, there is still government help.
Let's talk about how they protect you from your creditors.
If your debts have been handed over to a collection agency, the Federal Trade Commission prevents creditors and debt collectors from using any deception in order to collect a debt.
For example, if a collection agency sends you a letter looking like a legal document, and it tricks you into opening it, it is not legal.
They are also not allowed to contact your credit reporting agency and give them false or misleading information about you.
Your debt collector must never threaten you,and they must never collect above and beyond what you owe in credit.
(This means the collection agency cannot collect any legal fees in addition to your past due balances.
) When many people search for government help of credit card debt, they are looking for loans or grants in order to help them pay down their debts.
But, the government does not currently issue grants in order to help Americans out of debt.
They have done this by the new stimulus package which helps those who have an excess of $10,000 in debt.
If you are looking for government help with credit card debt, you're reading the right article.
I'm going to list some factors that can protect you from your creditors and collection agencies, as well as keeping your mind sound with this whole situation of your past due debts and explain government help with credit card debt.
So, the question is: Is there government help with credit card debt? The answer is yes and no.
Yes, you can get your debt legally erased if you have over $10,000 in unsecured debt.
This means if you have over $10,000 in debt, it can be legally erased with no ramifications against you.
However, if you have less than this amount, there is still government help.
Let's talk about how they protect you from your creditors.
If your debts have been handed over to a collection agency, the Federal Trade Commission prevents creditors and debt collectors from using any deception in order to collect a debt.
For example, if a collection agency sends you a letter looking like a legal document, and it tricks you into opening it, it is not legal.
They are also not allowed to contact your credit reporting agency and give them false or misleading information about you.
Your debt collector must never threaten you,and they must never collect above and beyond what you owe in credit.
(This means the collection agency cannot collect any legal fees in addition to your past due balances.
) When many people search for government help of credit card debt, they are looking for loans or grants in order to help them pay down their debts.
But, the government does not currently issue grants in order to help Americans out of debt.
They have done this by the new stimulus package which helps those who have an excess of $10,000 in debt.