While you might think that Delaware would be the second or third smallest state in the US in terms of its population, it actually ranks 45th with a population of 925,749. However, it is America’s second smallest state with an area of just 2489 square miles. Its nickname is “The First State” because it was our first state as it had a convention and adopted a constitution on June 4th, 1897. The state bird is the Blue Hen and the Delaware University athletic teams are nicknamed the Blue Hens. Delaware University’s most famous Blue Hen is undoubtedly quarterback Joe Flacco who helped the Baltimore Ravens win last year’s Super Bowl. Our current vice president is Joe Biden who was formally a Delaware Senator. And more businesses are incorporated in Delaware than any other state due to its low filing fee and because the process is fast and easy as well as affordable.
The average Delaware resident has credit card debt in the amount of $5324. This is slightly above the national average of $4927 per borrower. Delawareans have an average credit score of 680, which makes them “good” credit risks. However, this is on the very low side of having a “good,” score, which ranges from 680 to 699.
Home ownership in Delaware is 72%, which makes it one of the highest-ranking states in this category. Its median household income as of 2011 was $58,814 ranking it 9th in the U.S.
The largest portion of Delaware’s labor force is in the area of Trade, Transportation and Utilities with 75,300 workers. Second is Education and Health Services with 69,700 and third is Government with 62,700 workers.
As you might guess, Delaware does not have a number of large cities. Its biggest is Wilmington with a population of approximately 71,000 followed by Dover with a population of 36,000. And third is Newark with 31,454 residents.
Delaware’s unemployment stood at a reasonable 6.5% as of October of 2013. However, its largest city, Wilmington had an unemployment rate of 10.7%, while Dover’s stood at 9.0% and Newark’s was 6.7%.
Debt Help & Debt Settlement Services in Delaware
Delaware Credit Card Debt Settlement Laws
Our debt relief services are available in Delaware! 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 debt settlement and debt consolidation services in the state of Delaware. Credit Card 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 Delaware consumers and does not constitute legal advice.)
Delaware follows the set of federal laws dealing with collection agencies 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.
Maximum Interest Rate a Collection Agency Can Charge in Delaware: 6%
Delaware Wage Protection: 100% protection for 60 days
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 Delaware, the applicable statutes of limitations would be Texas’).
Oral Agreements: 3 years
Written Contracts: 3 years
Promissory Notes: 3 years
Open Accounts (credit cards): 4 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.