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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 Ohio Call Today: (877) 274-1260 |
Start here for debt help! |
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Ohio 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 Ohio 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 Ohio.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 Ohio Debt Relief and Debt Help Laws (This is intended to be a helpful and informational debt resource for Ohio consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Ohio.)Debt Collection Ohio 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. Maximum Interest Rate a Collection Agency Can Charge in Ohio: Federal short-term rate to nearest whole percent plus 3% Ohio Wage Protection: 75% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum wage 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 Ohio, the applicable statutes of limitations would be California's.) Oral Agreements: 6 years Written Contracts: 15 years Promissory Notes: 15 years Open Accounts (credit cards): 4 years Bankruptcy Courts John F. Seiberling Federal Building & U.S. Courthouse 455 U.S. Courthouse 2 South Main Street Akron, OH 44308 Frank T. Bow Federal Building 201 Cleveland Avenue, S.W. Canton, OH 44702-1929 Howard M. Metzenbaum U.S. Courthouse 201 Superior Avenue Cleveland, OH 44114-1235 411 U.S. Courthouse and Custom House 1716 Spielbusch Avenue Toledo, Ohio 43604 Nathaniel R. Jones Federal Building & U.S. Courthouse 10 East Commerce Street Youngstown, Ohio 44503-1621 Southern District of Ohio Cincinnati Divisional Office 221 E. Fourth Street Atrium Two Suite 800 Cincinnati, Ohio 45202 Southern District of Ohio Columbus Divisional Office 170 North High Street Columbus, Ohio 43215 Southern District of Ohio Dayton Office 120 West Third Street Dayton, Ohio 45402 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 Ohio. For more information, follow this link: bankruptcy exemptions. Also, Ohio 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 -Real or personal property you occupy to $5000 -Motor vehicle to $1000 -$400 of any property -Animals, crops, books, musical instruments, appliances, household goods, furnishings, firearms, hunting and fishing equipment to $200 per item; one piece of jewelry to $400, $200 for all others; all together cannot exceed $1500 ($2000 if no homestead exemption taken) -Beds, bedding, clothing to $200 per item -Burial plot -Cash, money due in 90 days, tax refund, bank, security, and utility deposits to $400 total -Compensation for lost future earnings needed for support, received during 12 months before filing -Tuition credit or payment -Wrongful death recoveries for person filer depended upon for support, received 12 months before filing Insurance -Benevolent society benefits to $5000 -Disability benefits to $600 per month -Fraternal benefit society benefits -Group life insurance benefits -Life, endowment, or annuity contract avails for your spouse, child, or dependent -Life insurance proceeds for a spouse -Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary's creditors Public Benefits -Crime victims' compensation, received during the 12 months prior to filing -Disability assistance payments -Public assistance -Unemployment compensation -Vocational rehabilitation benefits -Workers' compensation Pensions -ERISA-qualified benefits needed for support -IRAs, Roth IRAs, Keoghs needed for support -Firefighters, police officers -Public employees -Public safety officers' death benefits -Public school employees -State highway patrol employees -Volunteer firefighters' dependents Tools of Trade -Implements, books, and tools of trade to $750 Other -Child support, alimony needed for support -Property of a business partnership |
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