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Indiana

When you think of Abraham Lincoln you probably think of the state of Illinois. However, Lincoln moved to Indiana when he was seven and spent most of his boyhood years in Spencer County with his parents, Thomas and Nancy.

Indiana’s best-known event is the Indianapolis 500, which is held on or around every Memorial Day. The race was first run on May 30, 1911 on the Indianapolis Motor Speedway where the winner averaged 75 miles per hour and won a first-place prize of $14,000. Things are a bit different today as winners now average more than 185 miles per hour and first prize is worth at least $2.3 million.

Indiana’s population as of 2012 was 6,537,000 making it our 13th most populous state. It consists of 36,420 square miles ranking it 38th among our 50 states. The state was admitted to the Union on December 11, 1816

For reasons that no one can seem to explain, the nickname of people living in Indiana is Hoosiers. They have an average credit score of 726. This compares favorably with the national average FICO score of 689. In fact if Indiana were a person and had this credit score, it would be seen as having “good” credit.

Home ownership in Indiana is 74.9%, which is on the remarkable side. This means that only about one quarter of its population does not own their own homes.

Hoosiers have an average credit card debt of $4577. This compares very favorably with the average US credit card debt of $4879 per borrower.

Unemployment in Indiana as of December 2013 was 7.3%. This ranks it as the 32nd worst among all 50 states.

The state’s workforce totals 1,495,500. Of this, 581,000 are employed in the Trade, Transportation and Utilities sector. The second-largest part of the Indiana labor force is Manufacturing with 497,000 employees. And third is the Construction sector with 491,000 employees.

As you might guess the state’s largest city is its namesake – Indianapolis – with a population of 820,445. However, the entire Indianapolis metropolitan area is much larger than this wuth a total population of 1,798,634. Fort Wayne is the state’s second-largest city. Its population is 117,429 followed by third-place Evansville with a population of 117,429.

Indiana was hit hard by the Great Recession as reflected in its unemployment rate of 7.3%. The city of Indianapolis is in worse shape with an unemployment rate of 7.9%. Fort Wayne is a bit better at 7.5% but Evansville is relatively the same at 7.8%.

Credit Card Debt Relief Services in Indiana

Indiana Credit Card Relief Laws

Our debt relief services are available in Indiana! Our debt consultants are always ready to speak with you and give you a free consultation – you can call now:

(888) 703-4948

We provide debt relief services including debt settlement and consolidation in the state of Indiana. 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 just too racked up in 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.

Debt Collection

(This is intended to be a helpful and informational debt resource for Indiana consumers and does not constitute legal advice.)

Indiana follows the set of laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA).

Maximum Interest Rate a Collection Agency Can Charge in Indiana: 8%

Indiana Wage Protection: 75% of weekly disposable weekly earnings, or 30 times the federal minimum wage.

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 currently live in Indiana, the applicable statutes of limitations would be Texas’).

Oral Agreements: 6 years
Written Contracts: 10 years
Promissory Notes: 10 years
Open Accounts (credit cards): 6 years

get debt relief helpWhether 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.

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