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Arizona debt consolidation or Arizona debt settlement
Arizona Debt Consolidation to Help pay off debts
If you're drowning trying to pay on multiple credit cards, loans, and other bills in Arizona, and creditors or debt collection agencies are intimidating you to collect those debts, you should think about the help and advice from an Arizona debt consolidation or Arizona debt settlement company.
How can Arizona debt consolidation or debt settlement companies help?
Arizona debt consolidation and Arizona debt settlement companies offer a series of measures that can give you with some financial relief by helping you to pay off your credit cards and other bills comfortably, often quickly, without defaulting.
An Arizona debt consolidation consultant or Arizona debt settlement consultant will give you a no-obligation, free appointment where they can cover your finances, and based on your situation, recommend any of these programs:
Arizona debt consolidation is a program in which a counselor from a debt consolidation company negotiates with your creditors or the collection agencies that are contacting you directly to get them to accept your monthly payments at a lower interest rate. Oftentimes, the debt consolidation company will also be able to reduce or terminate late fees or over-limit fees. With the lower interest rate and no extra fees, your monthly payment will go much farther toward paying off the principal debt. One characteristic of debt consolidation programs is that you only have to make one payment each month that the consolidation company will distribute to all of your creditors, and you will be able to choose the date that your payment will be made each month.
Arizona debt settlement is an action plan where a professional debt negotiator negotiates with all of your creditors and collection agencies that are contacting you to try to greatly reduce balances on your outstanding principal. Individual results may vary, however, in many cases, dependent upon the amounts that you owe and the creditors involved, you might be able to lower your total outstanding balance by up to 40-60%* of the amount you owe now.
Arizona Debt Consolidation and Debt Settlement Laws
Those clients who cannot pay all of their bills or keep up to date on others may find it helpful to have a seasoned third party bargain with their creditors. Many sound companies help with debt settlement. Conversely, there are companies using questionable ethics using buyer angst over the current economy to have them sign up hastily for fraudulent “services”. If these contrived entities get money for these ruses, they can be guilty of fraud, which is outlawed everywhere. Clients needing financial help should be cautious to background check such representatives or call their debt settlement attorney to review any contracts they are examining. Debt settlement attorneys may also supply those services themselves. Customers who have already lost money should ask an attorney to help sue these fraudulent companies.
Laws for Debt Harassment in Arizona
Debt collection agencies operating in Arizona must be bound and licensed. Even with licensing debt collection agencies must operate within the state’s guidelines. It is a misdemeanor in Arizona to operate a debt collection company unlicensed.
Legal Collections Actions
- Calling, faxing, writing, and electronic communication with clients to obtain payment is allowed for creditors and collection agencies
- A creditor may sue or repossess from a client as long as legal processes are followed within the statute of limitations
- Customers’ financial behavior, whether good or bad, may be reported to credit bureaus by agencies.
Illegal Collections Actions
- Constantly disturbing clients by telephone and calling before or after normal business hours.
- With the exception of calling to notify a client of legal action creditors may not contact clients once the client asked them to stop.
- Trying to make the client make debt payments under duress by actual or implied violence.
- Creditors continuing to call a client at work once notified the employer does not allow calls.
- Falsifying to the client the identity of the agency in attempt to get payment such as saying they are the law or government.
- Making public or the threat of making public the amount the client owes.
*Individual results may vary. Statements made are only examples of possible outcomes, which are not intended to be a guarantee of any future settlement results. A debt counselor will attempt to understand your current financial situation and determine whether you are qualified for the debt resolution programs offered. Debt consolidation and debt settlement companies will work aggressively to reduce your debt balances, however, creditors are under no contractual obligation to negotiate or accept settlement offers.