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Franklin Debt Relief, LLC is a member of (TASC) The Association of Settlement Companies. This trade association has developed a standardized industry disclosure for consumers.
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Credit Card Debt Consolidation Help in Maryland Call Today: (877) 274-1260 |
Start here for debt help! |
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Maryland 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. In most circumstances, Franklin Debt Relief drastically reduces the monthly payment of our Maryland clients, and we settle their debts for between 40 and 50% of what is owed. The savings from our debt settlement program are tremendous, and it is the cheapest and fastest debt relief, debt consolidation or debt help option available to consumers throughout Maryland.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 Maryland Debt Relief and Debt Help Laws (This is intended to be a helpful and informational debt resource for Maryland consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Maryland.)Debt Collection 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). For more information on the FDCPA follow this link: debt collection. -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 Bankruptcy Courts Baltimore Division U.S. Courthouse, Rm. 8515 101 West Lombard St. Baltimore, MD 21201 (410) 962-7801 U.S. Bankruptcy Court 6500 CherryWood Ln. Greenbelt, MD 20770 (301) 344-8000 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 Maryland. For more information, follow this link: bankruptcy exemptions. Also, Maryland is a tenancy by the entirety state. Click here to learn about what this means if you have debt that's in only one spouse's name. Real Estate, Auto, Personal Property -$5000 in real or personal property -$6000 in cash or any property -Appliances, furnishings, household goods, books, pets, and clothing to $1000 total -Burial plot -Health aids -Perpetual care trust funds -Prepaid college trust funds -Lost future earnings recoveries Insurance -Disability or health benefits, including court awards, arbitrations, and settlements -Fraternal benefit society benefits -Life insurance or annuity contract proceeds or avails if beneficiary is insured's dependent, child, or spouse Public Benefits -Baltimore Police death benefits -Crime victims' compensation -General assistance -Unemployment compensation -Workers' compensation Pensions -ERISA-qualified benefits -IRAs, Roth IRAs, and Keoghs Tools of Trade -Clothing, books, tools, instruments, and appliances to $5000 |
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