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Massachusetts

On the face of it you might think that Massachusetts is a bit crowded as it consists of only 10,554,000 square miles – ranking it 44th in size in the US – but has a population of 6,692,824 and so is our 14th most populous state.

Boston is Massachusetts’ largest city and is noteworthy in that it built America’s first subway in 1897. And the state’s Norfolk County is the birthplace of four United States presidents: John Adams, John Quincy Adams, John Fitzgerald Kennedy and George Herbert Walker Bush. The visible portion of the famous Plymouth Rock, which is where our first settlers were said to have landed, is a fragment of glacial marine about the size of a coffee table. It now rests near the head of Plymouth Harbor.

The average credit score for a Massachusettian is 740. This means if the state were a person, it would be seen as having a “very good or excellent credit score.” The average credit card debt in Massachusetts is $5,142, making it a bit lower than the U.S. average credit card debt of $5,235 per borrower.

One odd fact about Massachusetts is that its home ownership is only 59.9%, ranking it far below even the state of Mississippi where home ownership is 75.2%. Given how old and settled the state is, you would think it would have a much higher percentage of homeowners.

Unemployment in the Bay State is currently at 7.2%. This is about 0.05% above the national average of 6.70%. A brighter statistic is the fact that the median household income in Massachusetts is $63,656.

Massachusetts’ work force totals 3,202,080. Of this, 491,990 are employed in the Office and Administrative Support Occupations sector. The state’s second largest employment sector is Sales and Related Occupations with 317,450 employees. Its third largest is Business and Financial Operations Occupations. It employs 186,920 workers.

As you might guess, the state’s largest city is Boston with a population of 617,594. The second largest is Worchester whose population is 181,045 followed by Springfield with a population of 153,060

Boston is clearly struggling to recover from the Great Recession as it still has an unemployment rate of 8.9%. The state’s second-largest city Worchester has an unemployment rate of 6.26% while Springfield is almost as bad as Boston with an unemployment rate of 8.52%

Debt Settlement Relief Options in Massachusetts

Massachusetts Debt Arbitration Laws

We are pleased to inform the residents of Massachusetts that our debt relief services are available in your state! 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:

(888) 703-4948

We provide debt settlement and debt arbitration in the state of Massachusetts. Debt settlement is program which can reduce your debts with your creditors giving you the opportunity to only pay back a fraction of the original amount owed. This is amazing for both you and your creditor because you get to pay less than your total balance owed while your creditor actually receives something back as compared to if you’d have gone bankrupt.

However, you may not have to even apply for credit card 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 Massachusetts consumers and does not constitute legal advice.)

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

  • Original creditor or creditor collecting own debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures. (For example, the original creditor does not have to verify the debt’s validity).
  • Debtor collector may contact a third party regarding the debt for a limited number of times.
  • Debt collector and original creditor cannot:
    • Call more than twice a week to the home or call more than twice in 30 days to places other than home, per debt
    • Call unauthorized third parties about the debt
    • Make more than one home visit in 30 days without consent (excluding repossessions)
    • Make any office visits without consent (excluding repossessions) -attempt to get the debtor to reaffirm discharged in bankruptcy, without conspicuous disclosure of the consequences
    • Suggest that they are a lawyer or give legal advice
    • Fail to send the following notice in writing within 30 days after the first communication to the debtor:
      • NOTICE OF IMPORTANT RIGHTS

        YOU HAVE THE RIGHT TO MAKE A WRITTEN OR ORAL REQUEST THAT TELEPHONE CALLS REGARDING YOUR DEBT NOT BE MADE TO YOU AT YOUR PLACE OF EMPLOYMENT. ANY SUCH ORAL REQUEST WILL BE VALID FOR ONLY TEN DAYS UNLESS YOU PROVIDE WRITTEN CONFIRMATION OF THE REQUEST POSTMARKED OR DELIVERED WITHIN SEVEN DAYS OF SUCH REQUEST. YOU MAY TERMINATE THIS REQUEST BY WRITING TO THE CREDITOR.

    • provide all papers in the collector’s possession bearing the debtor’s signature and concerning the debt being collected
    • provide ledgers, account cards, or similar records in the collector’s possession showing the date and amount of payments, credits, and charges on the debt

Maximum Interest Rate a Collection Agency Can Charge in Massachusetts: 6%

Massachusetts Debt Law

Massachusetts Wage Protection: $125 per week (75% protected by federal laws)

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 Massachusetts, the applicable statutes of limitations would be Texas’).

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 6 years (20 years if signed before a witness)
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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