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| Credit Card Debt Consolidation Help in Nevada | ||||||||||||||||
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| Nevada Debt Relief | ||||||||||||||||
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Debt settlement, also known as debt negotiation and debt reduction, is the process by which we negotiate and settle a debt for a reduced amount on behalf of a client. When successful, it is possible that Franklin Debt Relief can settle their debts for less than what is owed, all with the convenience of one low program payment. The savings from our debt settlement program can potentially be tremendous versus making your minimum payments, and it is in some cases the cheapest and fastest debt relief, debt consolidation or debt help option available to Nevada consumers. If you're overwhelmed with credit cards, medical bills, balances from a repossession, or accounts in collections, call for a free consultation: (877) 274-1260. |
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| Pertinent Nevada Debt Relief and Debt Help Laws | ||||||||||||||||
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(This is intended to be a helpful and informational debt resource for Nevada consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Nevada.) Debt Collection Nevada 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). For more information on the FDCPA follow this link: debt collection. -Debt collector cannot act as a consumer debt counseling service or debt adjuster in conjunction with debt collection services. -Debt collector cannot charge a collections' fee or interest, unless judicially determined, mutually agreed upon, or the fee or interest were added onto the principal prior to the collection agency receiving the debt. Nevada Debt Law Maximum Interest Rate a Collection Agency Can Charge in Nevada: 2% above prime at Nevada's largest bank on January or July 1st Nevada Wage Protection: 75% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum 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 California but currently live in Nevada, the applicable statutes of limitations would be California's.) Oral Agreements: 4 years Written Contracts: 6 years Promissory Notes: 6 years Open Accounts (credit cards): 4 years Bankruptcy Courts Foley Federal Building 300 Las Vegas Boulevard South Las Vegas, NV 89101 (702) 388-6709 U.S. Federal Building 300 Booth Street Room 1109 Reno, NV 89509 (775) 784-5559 Bankruptcy Exemptions Bankruptcy exemptions are protected assets that the bankruptcy code mandates that a debtor is entitled to keep in order to adequately get a "fresh start" after filing. Bankruptcy exemptions vary from state to state, and the following list is the property that is protected in the bankruptcy code of Nevada. For more information, follow this link: bankruptcy exemptions. Real Estate, Auto, Personal Property -Real property you occupy or mobile home to $200,000 -Motor vehicle to $15,000; no limit if modified for disabled person -Appliances, household goods, furniture, home and yard equipment to $10,000 total -Books to $1500 total -Burial plot purchase money held in trust -Funeral service contract money held in trust -Health aids -Keepsakes and pictures -Metal-bearing ores, geological specimens, art curiosities, or paleontological remains; must be arranged, classified, catalogued, and numbered in reference books -Mortgage impound accounts -Motor vehicle to $15,000; no limit on vehicle equipped for disabled person -One gun -Personal injury compensation to $16,500 -Restitution received for criminal act -Wrongful death awards to survivor Insurance -Annuity contract proceeds to $350 per month -Fraternal benefit society benefits -Group life or health policy proceeds -Life insurance policy or proceeds if annual premiums not over $1000 -Life insurance proceeds if you're not the insured Public Benefits -Aid to blind, aged, disabled, and other public assistance -Crime victims' compensation -Workers' compensation -Public assistance for children -Unemployment compensation -Vocational rehabilitation benefits Pensions -ERISA-qualified benefits, deferred compensation, SEP IRA, or IRAs to $500,000 Tools of Trade -Arms, uniforms and accoutrements you're required to keep -Cabin o dwelling of miner or prospector; mining claim, cars, implements and appliances to $4500 -Farm trucks, stock, tools, equipment, and seed to $4,500 -Library, equipment, supplies, tools, and materials to $4500 Other -Alimony, child support -Property of business partnership |
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