Debt Consolidation and Debt Reduction Services in Florida
Florida Debt Relief Options and Laws
Our debt relief services are available in Florida! 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 Florida. 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 Florida consumers and does not constitute legal advice.)
Florida 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).
- Both original creditor and debt collector cannot communicate with debtor’s employer before a judgment is obtained unless debtor consents.
- Violations are punishable up to $1000, and debtor is entitled to reasonable attorney fees and an amount equal to the sum of the damages he or she sustained
Maximum Interest Rate a Collection Agency Can Charge in Florida: 5% above Federal Reserve discount window rate at the time interest is due
Florida Wage Protection: 100% protection for heads of family up to $500 per week
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 Florida, the applicable statutes of limitations would be Texas’).
Oral Agreements: 4 years
Written Contracts: 5 years
Promissory Notes: 5 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.