Debt Relief Options For Arizona
Arizona Debt Relief and Debt Settlement Laws
Our debt relief services are available in Arizona! There is help for those struggling with unsecured debts. Our debt consultants are always ready to speak with you and give you a free consultation – you can call now:
We provide various debt relief services in the state of Arizona. One service we provide is debt settlement. Debt settlement is a way to reduce your debts with your creditors into one low monthly program payment. This method is amazing for people who are experiencing the financial hit from the economy. Ideal participants in such programs are those who are seeing less income, have medical issues or are simply overwhelmed by debt.
However, you may not have to even apply for debt settlement if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.
(This is intended to be a helpful and informational debt resource for Arizona consumers and does not constitute legal advice.)
Arizona follows the set of laws that are collectively known as the Fair Debt Collection Practices Act (FDCPA).
- Debt collector cannot send mail or telephone debtor at work unless a good-faith effort has been made to contact debtor at home and that effort has failed.
- Debtor is reserved the right to see agency’s records concerning debt free of cost.
- Collection agency cannot contact any third party in order to inform them of the debt, to ask them to pressure the debtor to paying the debt, or pressure them to pay the debt when they are not legally obligated to do so.
- In the first contact, collection agency must disclose: name of creditor, time and place debt was incurred, merchandise or service purchased, and date the account was turned over for collection.
Maximum Interest Rate a Collection Agency Can Charge in Arizona: 10%
Statute of Limitations
A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but live in Arizona, the applicable statutes of limitations would be Texas’).
Written Contracts: 3 years
Oral Contracts: 3 years
Promissory Notes: 3 years
Open Accounts (credit cards): 3 years
Whether you have unsecured credit cards, medical bills, personal loans or collection accounts, there’s help for you. The National Debt Relief Group offers a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.