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Credit Card Debt Consolidation Help in Washington Call Today: (877) 274-1260 |
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Washington 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 Washington 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 Washington Debt Relief and Debt Help Laws (This is intended to be a helpful and informational debt resource for Washington consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Washington.)Debt Collection Washington 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. -Debt collector must: - include name and address of agency and name of the creditor in all written communications. -include an itemization showing the amount owed on the original debt, interest charges, and any other fees (late fees, attorney's fees, etc.) in the initial written communication -notify the credit bureaus that a debt has been satisfied within 45 days of the debt's satisfaction -Debt collector cannot: -threaten debtor with harm to their credit rating -communicate with the debtor more than 3 times in one week or at work more than once per week -make more than one contact with a debtor concerning a debt that arose from identity theft or any other fraudulent activity out of the debtor's control (stolen checkbook, lost ATM card, etc.) Washington Debt Law Maximum Interest Rate a Collection Agency Can Charge in Washington: 12% Washington Wage Protection: 75% of disposable weekly earnings (after tax income) or 40 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 Washington, the applicable statutes of limitations would be Florida's.) Oral Agreements: 3 years Written Contracts: 6 years Promissory Notes: 6 years Open Accounts (credit cards): 3 years Bankruptcy Courts 104 W. Magnolia Street (Cornwall at Magnolia) Bellingham, WA 98225 United States Courthouse 700 Stewart Street Room 6301 Seattle, WA 98101 Union Station 1717 Pacific Avenue Suite 2100 Tacoma, WA 98402-3233 Yakima Office 402 East Yakima Avenue, Suite 200 Yakima, WA 98901 (509) 454-5660 Spokane Office 904 West Riverside Avenue, Suite 304 Spokane, WA 99201 (509) 353-2404 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 Washington. For more information, follow this link: bankruptcy exemptions. Also, Washington is a community property 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 $40,000; unimproved property intended for residence to $15,000 -Motor vehicles to $2500 total for individual ($5000 for two vehicles for community) -$2000 of any personal property (no more than $200 in cash, stocks, bonds, bank deposits, and securities) -Appliances, furniture, household goods, home and yard equipment to $2700 total for individual -Books to $1500 -Burial ground -Burial plots sold by non-profit cemetery association -Clothing (no more than $1000 in furs, jewelry and ornaments) -Fire insurance proceeds for lost, stolen, or destroyed exempt property -Food and fuel for comfortable maintenance -Heath aids -Keepsakes and family pictures -Personal injury recoveries to $16,150 Insurance -Annuity contract proceeds to $250 per month -Disability proceeds, avails, or benefits -Fraternal benefit society benefits -Group life insurance policy or proceeds -Life insurance proceeds or avails if beneficiary is not the insured Public Benefits -Child welfare -Crime victims' compensation -General assistance -Workers' compensation -Old-age assistance -Unemployment compensation Pensions -ERISA-qualified benefits -IRAs, Roth IRAs, and Keoghs -City employees -Judges -Law enforcement officials and firefighters -Teachers -Volunteer firefighters -Public and state employees Tools of Trade -Farmers' trucks, stock, tools, seed, equipment, and supplies to $5000 total -Library, office furniture, office equipment, and supplies of physician, surgeon, attorney, clergy, or other professional to $5000 total -Tools and materials used in any other trade to $5000 Other -Child support |
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