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Credit Card Debt Consolidation Help  in Vermont
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!
 
 
 
Vermont  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 Vermont 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 Vermont  Debt Relief and Debt Help Laws
(This is intended to be a helpful and informational debt resource for Vermont consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Vermont.)

Debt Collection

Vermont 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).
-Original creditor and debt collector cannot:
-seek or obtain an affirmation of a debt that is not collectible (discharged in bankruptcy, expired statute of limitations, etc.) without clearly disclosing that the debtor is no longer legally obligated to pay the debt
-claim it has something of value in its possession or important information in an attempt to lure the debtor

Maximum Interest Rate a Collection Agency Can Charge in Vermont: 12%

Vermont 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 Florida but currently live in Vermont, the applicable statutes of limitations would be Florida's.)

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

67 Merchants Row
P.O. Box 6648
Rutland, VT 05702-6648

Bankruptcy Exemptions
Federal bankruptcy exemptions are available. 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 Vermont. For more information, follow this link: bankruptcy exemptions.

Also, Vermont 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 property or mobile home to $75,000; may also claim rents, issues, profits, and out-buildings
-Motor vehicles to $2500
-$400 of any property
-Bank deposits to $700
-Unused exemptions for home, auto, tools of trade, jewelry, furniture, appliances, clothing, and crops to $7000
-Appliances, furnishings, goods, clothing, books, crops, animals, musical instruments to $2500 total
-Cow, 2 goats, 10 sheep, 10 chicken, and feed to last 1 winter; 2 swarms of bees plus honey; 5 tons of coal or 500 gallon of heating oil; 10 cords of firewood; 500 gallons of gas; growing crops to $5000; yoke of oxen or steers, plow and ox yoke; 2 horses with harnesses, halters, and chains
-Health aids
-Jewelry to $500 (unlimited for wedding ring)
-Personal injury, lost future earnings, wrongful death recoveries for you or person you depended upon
-Stove, heating unit, refrigerator, freezer, water heater and sewing machines
Insurance
-Annuity contract benefits to $350 per month
-Disability benefits that supplement life insurance or annuity contract
-Disability or illness benefits needed for support
-Fraternal benefit society benefits
-Group life or health benefits
-Health benefits to $200 per month
-Life insurance proceeds for person you depended upon
-Life insurance proceeds if clause specifically prohibits proceeds from being used to pay beneficiary's creditors
-Life insurance proceeds if beneficiary is not the insured
-Unmatured life insurance contract other than credit

Public Benefits

-Aid to blind, aged, disabled and other general assistance
-Crime victims' compensation needed for support
-Social Security needed for support
-Unemployment compensation
-Veterans' benefits needed for support
-Workers' compensation

Pensions

-Municipal employees
-Other pensions
-Self-directed accounts' (IRAs, Roth IRAs, Keoghs) contributions made at least 1 year prior to filing
-State employees
-Teachers

Tools of Trade

-Books and tools of trade to $5000

Other

-Alimony, child support
 
 
 
 
 

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