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| Credit Card Debt Consolidation Help in West Virginia | ||||||||||||||||
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| West Virginia 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 West Virginia 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 West Virginia Debt Relief and Debt Help Laws | ||||||||||||||||
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(This is intended to be a helpful and informational debt resource for West Virginia consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in West Virginia.) Debt Collection West Virginia 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). -Debt collector cannot: -claim it has something of value in an effort to lure debtor -attempt to convince the debtor to agree that debt was incurred to pay for necessaries of life when debt was not for that purpose -attempt to convince the debtor to pay debt discharged in bankruptcy without clearly disclosing the nature and consequence of agreement and fact that debtor is not legally obligated to pay debt. -attempt to collect a collection agency's fee, unless specifically authorized in the original agreement Maximum Interest Rate a Collection Agency Can Charge in West Virginia: 6% http://law.justia.com/westvirginia/codes/46a/wvc46a-2-128.html West Virginia Wage Protection: 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 Florida but currently live in West Virginia, the applicable statutes of limitations would be Florida's.) Oral Agreements: 5 years Written Contracts: 10 years Promissory Notes: 10 years Open Accounts (credit cards): 5 years Bankruptcy Courts Clarksburg Division 324 Main Street P.O. Box 2506 Clarksburg, WV 26302 304-623-7866 Wheeling Division 1125 Chapline St. P.O. Box 70 Wheeling, WV 26003 304-233-1655 300 Virginia Street East, Room 3200 Charleston, WV 25301 Telephone: (304) 347-3003 Sidney L. Christie Federal Building 845 Fifth Avenue Huntington, WV 25701 Telephone: (304) 529-5588 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 West Virginia. For more information, follow this link: bankruptcy exemptions. Real Estate, Auto, Personal Property -Real or personal property used as a residence to $25,000 -Motor vehicle to $2400 -Unused portion of homestead exemption applied to any other personal property -$800 of any personal property -Animals, crops, clothing, appliances, books, household goods, furnishings, musical instruments to $400 per item, altogether cannot exceed $8000 -Burial plot to $25,000 in lieu of homestead exemption -Health aids -Jewelry to $1000 -Lost earnings payments needed for support -Personal injury recoveries to $15,000 -Prepaid higher education tuition trust fund and savings plan payments -Wrongful death recoveries for person you depended upon for support Insurance -Fraternal benefit society benefits -Group life insurance policy or proceeds -Health or disability benefits -Life insurance payments from policy for person you depended upon for support -Unmatured life insurance policy, except credit insurance policy -Unmatured life insurance contract's accumulated dividend, interest, or loan value to $8,000, if debtor owns contract and insured is either debtor or person on whom debtor is dependent Public Benefits -Aid to blind, aged, disabled and general assistance -Social Security -Crime victims' compensation -Unemployment compensation -Veterans' benefits -Workers' compensation Pensions -ERISA-qualified benefits necessary for support -IRAs needed for support -Public employees -Teachers Tools of Trade -Implements, books, tool of trade to $1500 total Other -Alimony, child support needed for support |
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