Your Legal Rights re:Unsecured Debt
Stating first that I am not an attorney. There are plenty of attorneys to work with in our business.
You have a right, in the U.S.A., to arbitrate/negotiate your unsecured debts (i.e. credit cards, signature loans, medical bills) or have it done for you. That is in the fine print on every credit card or unsecured debt agreement you have signed. In the fine print, because they really hope you miss reading it.
Life can change in seconds and significantly affect you. Think of Hurricane Katrina and others. Other things such as automobile accidents, major health changes, loss of your job, divorce, and things like this affecting your children or other loved ones who you need to help. I always think of one of my clients whose daughter was diagnosed with breast cancer, needed chemo and they had to help her, going through $40,000 in savings and mounting up over $100,000 in credit card debt.
You also have protection from the Fair Debt Collection Practices Act, monitered through the Federal Trade Commission and other agencies and companies. If you owe someone money, they cannot abuse you or they face a fine of $1,000 per telephone call.
Everyone has legal protection, and if your life has significantly changed on you or your family, stand up for yourself and your loved ones.
Labels: arbitrate debt, avoid bankruptcy, debt arbitration, debt arbitration legal, debt FTC protection, debt legalities, debt reduction
posted by Roger & Pamela Foulks @ Friday, February 15, 2008
6 comments
6 Comments:
debt relief If someone has unsecured debt and buried under it there are options they have. A company that can negotiate down your debt can help.
debt relief If someone has unsecured debt and buried under it there are options they have. A company that can negotiate down your debt can help.
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This comment has been removed by the author.
HI,
Time comes when person may fall a prey to debt. This unpredictable debt needs to be removed. Person in debt can get out of that by the help debt consolidation. The debt relief will help the individual to come out of the debt. A person should know how to avoid debt that cannot be recovered. The credit counselor ( in UK they are know as debt counselor) can help in this regard.
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