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Nevada

Nevada was one of the states hardest hit by the Great Recession. It still has the highest unemployment rate in the nation at 9%. Furthermore, its percentage of homeownership is just 59.7% or almost 5 points below where it was 10 years ago. And since 2008 the number of households in Nevada has dropped from 115,226,802 to 992,896. In addition, its median household income is just $47,333 raking in 44th in the US or well below that of its neighboring states of Utah and Arizona.

The average credit score for a Nevadan is 660, which would be considered a “good” or “average” credit score. Its credit card debt averages $6145 versus the national average of $5235 per borrower.

Nevada’s population is 2,700,551 making it the nation’s 36th most populous. If you were to divide its population by its size, you’d see that the state has only about 24 people per square mile.

The state’s largest city is Las Vegas with a population of 583,756, while it’s second largest in Henderson with its population of 257,729. Reno is Nevada’s third largest city. Its population is 225,221.

You probably won’t be surprised to learn that the first slot machine was invented in Nevada in 1899. Charles Fey who named it the Liberty Bell invented it. In 1960 there were 16,067 slots in Nevada. By 1999 Nevada had 205,726 slot machines or one for every 10 residents. The state is America’s seventh largest with 110,540 square miles, 85% of them federally owned including the mysterious and secret Area 51 near the little town of Rachel.

As noted above, Nevada currently has an unemployment rate of 9.0%. However, Las Vegas is even worse at 10.0%. Henderson fares a bit better with its unemployment rate of 8,9%. Reno’s unemployment rate is similar to that of Las Vegas at 9.2%

The state’s work force totals 1,127,160. Of this, 182,020 workers are employed in Office and Administrative Support Occupations. The segment Food Preparation and Serving Occupations accounts for 164,220 workers while Sales and Related Occupations has 120,280 employees.

Credit Card Debt Negotiation in Nevada

Nevada Debt Negotiation and Debt Settlement Laws

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 negotiation in the state of Nevada. Credit card debt settlement is a way to reduce your debts with the creditor or collection agency to only pay back a fraction of the original amount owed. This is great 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 Nevada consumers and does not constitute legal advice.)

Nevada follows the set of laws that are collectively known as the Fair Debt Collection Practices Act (FDCPA).

  • Debt collector cannot act as a consumer debt counseling service or debt adjuster in conjunction with debt collection services.
  • Debt collector cannot charge a collections’ fee or interest, unless judicially determined, mutually agreed upon, or the fee or interest were added onto the principal prior to the collection agency receiving the debt.

Nevada Debt Law

Maximum Interest Rate a Collection Agency Can Charge in Nevada: 2% above prime at Nevada’s largest bank on January or July 1st.

Nevada Wage Protection: 75% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum wage, whichever is greater.

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 California but currently live in Nevada, the applicable statutes of limitations would be California’s).

Oral Agreements: 4 years
Written Contracts: 6 years
Promissory Notes: 6 years
Open Accounts (credit cards): 4 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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