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Connecticut debt consolidation or Connecticut debt settlement
Connecticut Debt Relief Plans to Help pay off debts
If you’re trailing behind on multiple credit cards, loans, and other bills in Connecticut, and creditors or debt collection agencies are hounding you to collect those debts, you should mull over the help and advice from a Connecticut debt consolidation or Connecticut debt settlement company.
How can Connecticut debt consolidation or debt settlement companies help?
Connecticut debt consolidation and Connecticut debt settlement companies provide programs that can give you financial relief by helping you to pay down your credit cards and other bills comfortably, often quickly, without defaulting.
An Connecticut debt consolidation consultant or Connecticut debt settlement consultant will give you a no-commitment, free counseling session where they can go over your finances, and based on your unique circumstances, suggest any of these programs:
Connecticut debt consolidation is a program where a mediator from a debt consolidation company works 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. Many times, the debt consolidation company will also be able to reduce or eliminate altogether late fees or over-limit fees. With the lower interest rate and no extra fees, your monthly payment will go much further to pay off your debt principal. One great feature of debt consolidation programs is that you only need 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.
Connecticut debt settlement is a program where a professional debt mediator bargains with all of your creditors and collection agencies that are contacting you in an attempt to trim your outstanding principal balances. Of course individual results do vary quite a bit, however, in many cases, dependent upon the amounts that you owe and the creditors involved, you might be able to reduce your outstanding balance by up to 40-60%* of the amount you currently under obligation.
Connecticut Debt Consolidation and Debt Settlement Laws
Debt negotiation and debt settlement companies give borrowers a way to cut debt levels without crashing their credit. When mediators bargain with lenders, this reduces the lenders fear the borrower while file for bankruptcy, allowing the debt consolidation or debt settlement companies to lower the debt to a fraction of the original amount. Where the problem arises is when criminals use the current economic troubles to scam people into paying fees for debt consolidation or debt settlement companies with the intent to simply take the money without lowering the borrowers total debt or restoring their credit. If you find yourself in this case you may want to meet with a debt settlement lawyer.
Laws for Debt Harassment in Connecticut
For the most part the debt collection laws in Connecticut mirror those at the federal level, which disallow any type of: unethical, abusive, or intimidating behavior in the context of collecting owed monies.
Legal Collections Actions
- Face-to-face contact, communication via email, fax, and phone
- Filing suit to recoup lost monies.
Illegal Collections Actions
- Any kind of violence (actual or intended) or other mistreatment of borrowers
- Placing multiple calls outside of normal business hours.
- Claiming to be anyone other than a collections agent from a private company.
- To keep on contacting borrows even after receiving written notice to stop contact.
- Persisting in phone calls to the workplace even after being notified the employer does not allow calls.
- Illegal charges and interest.
- Cashing posted dated checks before the date on the check.
- Making or intending to make a borrower’s debt public knowledge.
*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.