Washington DC was carved out of two states – Maryland and Virginia. Given the fact that Washington DC is its next door neighbor you might not be surprised to learn that Maryland is one of our most prosperous states with a median household income of a whopping $71,836.
Maryland gained statehood on April 28, 1788 making it our seventh state. Its area is 12,407 square miles and is America’s 42nd biggest state. It’s the 19th most populous state in the US with a population of 5,928,814. Maryland was named to honor Britain’s Queen Mary and the city of Baltimore was named in honor of Lord Baltimore (Cecilius Calvert), the first Proprietary Governor of the Province of Maryland.
The largest city in Maryland is Baltimore. It has a population of 620,961. The state’s second-largest city is Frederick with a population of 65,329, followed by Rockville whose population is 61,209.
Nearly 70% of Marylanders own their own homes. The average credit score in Maryland is 687 and the average credit card debt is $5345, making it 22nd in the US in this category. A credit score of 687 would be considered “good” if Maryland were a person applying for credit.
Maryland’s total workforce is 2,510,680. Of this, 406,360 people are employed in the Office and Administrative Support Occupations – again no surprise given its proximity to Washington DC. The second largest group of employees in Maryland is Sales and Related Occupations with 247,370 workers. The category Food Preparation and Serving Related Occupations employs 205,540 people.
The unemployment rate in Maryland is currently 6.4%. This makes it 22nd out of the 50 states. However, the city of Baltimore does much worse with an unemployment rate of 10.3%. Frederick at 5.9% and Rockville at 5.0% do much better. Again, this is likely due to their close proximity to Washington DC.
Debt Relief & Debt Negotiation Options in Maryland
Maryland Debt Negotiation Laws
We are pleased to inform the residents of Maryland that our debt relief services are available in your state! Our debt consultants are always ready to speak with you and give you a free consultation – you can call now:
We provide debt negotiation and debt management services in the state of Maryland. Debt negotiation is a great program for reducing your debts with your creditors into one low monthly program payment. This method works because you pay less yet the creditor still recovers some of their loss had you gone bankrupt.
However, you may not have to even apply for credit card debt negotiation 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 Maryland consumers and does not constitute legal advice.)
Maryland 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).
Maximum Interest Rate a Collection Agency Can Charge in Maryland: 6%
Maryland Wage Protection: 75% of wages or $145 per week, whichever is greater; in Kent, Caroline and Queen Anne’s of Worcester Counties, 75% of wages or 30 times the federal minimum hourly 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 Texas but currently live in Maryland, the applicable statutes of limitations would be Texas’).
Oral Agreements: 3 years
Written Contracts: 3 years
Promissory Notes: 3 years
Open Accounts (credit cards): 3 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.