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Credit Card Debt Consolidation Help  in Colorado
Call Today: (877) 274-1260
If you successfully complete our program, it’s possible that you’ll enjoy these benefits:
Settle your debts for less than you owe
  (read here for full details about how much you can expect to save)
Resolve your unsecured debts in 18 to 60 months
  (read here for full details on how long our program lasts)
No Up Front Fees - Don't Pay Till You See Results!
 
 
 
Colorado  Debt Relief
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 Colorado 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.
 
Pertinent Colorado  Debt Relief and Debt Help Laws
(This is intended to be a helpful and informational debt resource for Colorado consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Colorado.)

Debt Collection Colorado follows the set of federal laws 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 must identify him or herself within the first 60 seconds after the person answering the phone telephone identifies him or herself as the debtor.
-Debt collector must provide the debtor with receipts for cash payments or any other means which does not provide evidence of payment (checks, money orders, etc).
-If the debtor requests in writing for an account statement, the collection agency must provide the debtor with said statements free of cost within 10 days of the request. Statements must include the debtor's name, creditor's name, amounts paid, date payments were received, and a break down of payment allocation (what portion went to interest, principal, fees, etc).
- In its initial written communication to a consumer, a collection agency shall include the following statement: "FOR INFORMATION ABOUT THE COLORADO FAIR DEBT COLLECTION PRACTICES ACT, SEE WWW.AGO.STATE.CO.US/CADC/CADCMAIN.CFM".
-Complains about the collection practices of creditors collecting their own debts to the Uniform Consumer Credit Code, 1525 Sherman Street, 7th Floor, Denver, CO 80203 (303) 866-4494.
- Send complaints about debt collectors and collection agencies to the Colorado Collection Agency Board, 1525 Sherman Street, 7th Floor, Denver, CO 80203, (303) 866-5304.

Colorado Debt Law

Maximum Interest Rate a Collection Agency Can Charge in Colorado: 8%

Colorado Wage Protection: 75% of weekly net earnings or 30 times the federal minimum wage, whichever is greater, including pension and insurance payments

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 live in Colorado, the applicable statutes of limitations would be Texas'.)

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 6 years
Open Accounts (credit cards): 6 years

Bankruptcy Courts

U.S. Bankruptcy Court
721 19th St
Denver, CO 80202-2508
(720) 904-7300
Serves all of Colorado including Denver, Fort Collins and Aurora.

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 Colorado. For more information, follow this link: bankruptcy exemptions.

Real estate, Auto, Personal Property

-Real property, mobile home, manufactured home, or house trailer you occupy to $45,000; sale proceeds exempt 1 year after received (spouse or child of deceased owner may claim exemption)
-Motor vehicles or bicycles used for work to $3,000; to $6,000 if used by a debtor or by a dependent that is disabled or 65 or over
-Clothing to $1500
-1 burial plot per family member
-Food and fuel to $600
-Health aids
-Household goods to $3,000
-Jewelry & articles of adornment to $1,000
-Personal injury recoveries
-Family pictures & books to $1,500
-Proceeds for damaged exempt property
-Security deposits

Insurance

-Disability benefits to $200 per month; if receive lump sum, entire amount exempt
-Fraternal benefit society benefits
-Group life insurance policy or proceeds
-Homeowners' insurance proceeds for 1 year after received, to homestead exemption amount
-Life insurance cash surrender value to $50,000, except contributions to policy within past 48 months
-Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary's creditors

Public Benefits

-Aid to blind, aged, disabled; public assistance
-Crime victims' compensation
-Earned income tax credit
-Unemployment compensation
-Veteran's benefits for veteran, spouse, or child if veteran served in war or armed conflict
-Workers' compensation

Pensions

-ERISA-qualified benefits, including IRAs & Roth IRAs
-Firefighters and police officers
-Public employees' pensions & defined contribution plans as of 2006
-Public employees' deferred compensation
-Teachers
-Veteran's pension for veteran, spouse, or dependents if veteran served in war or armed conflict

Tools of Trade

-Livestock or other animals, machinery, tools, equipment, & seed of person engaged in agriculture to $25,000 total
-Professional's library to $3,000
-Stock in trade, supplies, fixtures, tools, machines, electronics, equipment, books, and other business materials to $10,000 total
-Military equipment personally owned by members of the National Guard

Other

-Child support
-Property of business partnership
 
 
 
 
 

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