Jacksonville, Florida is situated on the eastern coast of the United States. It is located on the Atlantic Ocean, and the city sits directly below Georgia. The city was named after General Andrew Jackson, who never visited the city but was the first military governor of the state. The St. John’s River runs through Jacksonville. It is one of the few rivers in the country that flows north rather than south. The city is home to the Jacksonville Jaguars, the University of North Florida, and the Jacksonville Zoo. While in Jacksonville, you can enjoy amazing beaches, visit a fun waterpark, or enjoy the nightlife that the city has to offer. Jacksonville is home to almost 850,000 people. Unfortunately, many citizens of the city have an uncontrollable debt problem. It is so easy to get into debt; however, it takes years to get out of debt. One way to deal with your debt problem is with a debt settlement program.
What is Debt Settlement?
Debt settlement, or debt negotiation, consists of your creditors agreeing on a reduced balance that results in the debt being settled in full. You will make a payment to the debt settlement company, and they will pay your creditors when your account reaches a certain balance. Debt settlement hurts your credit score, but it can help you get your debts paid. Debt settlement is an alternative to bankruptcy.
Florida Debt Relief Laws
Fortunately, laws are in place that will protect you from malicious creditors. Creditors cannot threaten you, and they cannot talk to third parties about your debt. They cannot call you at work if you tell them to stop, and they cannot harass or mislead you. Debt collectors cannot call you before 8 in the morning, and they cannot call you after 9 in the evening. You have the right to dispute the debt, but it must be in writing. They cannot contact you if they know you are being represented by an attorney. If a debt collector fails to follow these laws, you have the right to file a lawsuit against them in court.
Who Qualifies for Debt Settlement?
Not everyone qualifies for debt settlement. To enroll in a debt settlement program, you need to have more than $7,500 in unsecured debt. Debt that is secured by collateral is not able to be settled. Many companies want you to already be behind on payments before you can enroll in their program.
Advantages of Debt Settlement
- Get out of debt sooner
- You will be able to make lower payment amounts
- You can avoid filing for bankruptcy
- You can get some relief
- You can get creditors off your back
Jacksonville Poverty Statistics
21.4% of the people of Jacksonville are living in poverty. The state’s poverty level sits at 21.1%. The unemployment rate in Jacksonville is 4.4%, which is down. This is lower than the national average. Just over 700,000 people are employed in the city of Jacksonville.
The median age for the residents of Jacksonville is 35.7. 26.9% of people in Jacksonville are African American, and 23.3% are Native American. The Asian population comprises 13.1%, and the Latino community consists of 21.7% of the population of Jacksonville. 76% of the people have graduated from high school, and 37.8% of the residents have achieved a higher education. 30.6% of people under the age of 65 who do not have health insurance. Jacksonville is known to have one of the highest divorce rates in the country.
If you live in Jacksonville, you have lots of options for debt relief. You can settle the debt yourself, or you can hire a debt settlement company. You can also consider credit counseling or debt consolidation to get out of debt. If you need debt relief, research your options to see what works for you. Make sure you choose a reputable company that will take care of your needs.
If you are overwhelmed by debt, debt settlement could be the solution you need to get back on your feet. You can settle your debt, and you will be on track to live a life free from debt.