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| Credit Card Debt Consolidation Help in Oregon | ||||||||||||||||
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| Oregon 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 Oregon 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 Oregon Debt Relief and Debt Help Laws | ||||||||||||||||
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(This is intended to be a helpful and informational debt resource for Oregon consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Oregon.) Debt Collection Oregon 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). Oregon Debt Law Maximum Interest Rate a Collection Agency Can Charge in Oregon: 9% Oregon Wage Protection: 75% of disposable weekly earnings (after tax income) or $170 per week, 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 Oregon, the applicable statutes of limitations would be California's.) Oral Agreements: 6 years Written Contracts: 6 years Promissory Notes: 6 years Open Accounts (credit cards): 6 years Bankruptcy Courts 1001 SW 5th Ave #700 Portland, OR 97204 405 E 8th Ave #2600 Eugene, OR 97401 Oregon 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 Oregon. For more information, follow this link: bankruptcy exemptions. Real Estate, Auto, Personal Property -Prepaid rent and security deposit for renters dwelling -Real property of a soldier or sailor during time of war -Real property you occupy or intent to occupy to $25,000 ($33,000 for joint owners) -Mobile home on property you own or houseboat to $23,000 ($27,000 for joint owners) -Motor vehicle to $1700 -Bank deposits to $7500; cash for sold exempt property -$400 of any property not already covered by an exemption -Books, pictures, and musical instruments to $600 total -Building materials for construction of an improvement -Burial plot -Clothing, jewelry, and other personal items to $1800 total -Compensation for lost earnings payments for debtor or someone debtor depend on, to extent needed -Domestic animals, poultry, and pets to $1000, plus food for 60 days -Federal earned income tax credit -Food and fuel to last 60 days if debtor is householder -Furniture, household items, utensils, radios, TVs to $3000 total -Health aids -Higher education savings account to $7500 -Personal injury recoveries to $10,000 -Pistol, rifle, or shotgun to $1000 (must be owned by person over 16) Insurance -Annuity contract benefits to $500 per month -Fraternal benefit society benefits -Group life policy or proceeds not payable to insured -Health or disability proceeds or avails -Life insurance proceeds or cash value if you are not the insured Public Benefits -Aid to blind to $7500 -Aid to disabled to $7500 -Civil defense and disaster relief to $7500 -Crime victims' compensation -General assistance to $7500 -Old age assistance to $7500 -Medical assistance to $7500 -Unemployment compensation to $7500 -Veterans' benefits and proceeds of veterans' loans -Vocational rehabilitation to $7500 -Workers' compensation to $7500 Pensions -ERISA-qualified benefits, including IRAs and SEPs, payments to $7500 -Public officers, employees pension payments to $7500 Tools of Trade -Tools, library, team with food to last 60 days up to $3000 Other -Alimony, child support needed for support |
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