Are you going “stir crazy” over your debt? What is the state of your credit cards, car loans and mortgage balances? Do you need serious help?
Not many people are fortunate enough to be financial experts on credit and debt. Therefore, when they have difficulties, they don’t know how to respond properly. This debt settlement in South Aurora, CO guide will explain the laws, your consumer rights and provide you with a list of local resources.
The State of Colorado was established officially on August 1, 1876, which gave it the nickname Centennial State (because it was established 100 years after the American revolution of 1776). The Colorado legal framework is “home rule,” which gives the local governments more control over things, such as taxation. The state tax is only 2.9%, but local governments can add their own assessments, making it as high as 11.2%.
There are more than 5 million residents of Colorado and the median household income is $66,596. The Colorado Zillow Home Value Index (ZHVI) for March 15, 2017 was $322,300.
Wealth & Poverty
The high end for Colorado ZHVI was Cross Creek at $379,900 and Denver at $353,300 on March 15, 2017. On the low end of the ZHVI was Grand Junction at $195,400. The median housing value for South Aurora was $265,224 in 2016.
Do You Need Debt Relief?
Most people have a banking account – savings and\or checking. But, over time, their credit cards might begin to resemble these banking accounts. Their monthly bills detail certain expenses.
While it is very easy to increase your credit card balance, it is very difficult to decrease it. Paying the minimum is not likely to allow you to reduce your debt, significantly. Most people discover that the hard way.
And, how about car loans? Can you get around South Aurora without an automobile? All your friends own cars, so why shouldn’t you?
Unfortunately, it can be expensive to maintain a vehicle. You have insurance, gasoline, maintenance, repairs and your loan.
With all of these loans, it can be difficult to keep them all straight. One missed payment can lower your credit score. If you can’t pay off your loans, then you might want to consider debt settlement in South Aurora, CO.
Who Much Does Debt Relief Cost?
When you are “in debt,” it can be difficult to consider some expensive programs to reduce your bills. You already don’t have much money. The good news is that there are some “free” debt relief programs in South Aurora, Colorado.
The State of Colorado government will license non-profits and encourage them to help the citizens. You can also find some lawyers, who will donate their time to give you free advice. So, you can accomplish some things with free debt management services.
But, if you want to file a “cease and desist order” against harassing debt collectors, then you will probably have to pay a South Aurora bankruptcy attorney. It takes time to prepare the necessary legal documents. There are also associated court fees, since the request must be logged with a local Colorado court.
Colorado Debt Relief Laws
The highest jurisdiction for consumer rights is the FTC, which wants you to be treated fairly, by your creditors. Unfortunately, the federal government is busy with many cases. Therefore, if you believe your rights are being abused, you should contact the Colorado Attorney General.
When you visit the website of the Colorado Attorney General, you might want to check out the Consumer Credit Unit. This agency is in charge of licensing, regulating and punishing “companies and individuals involved in consumer lending, debt collection and debt management.” Here are the primary debt management categories in the State of Colorado:
- Uniform Consumer Credit Code
- Collection Agency Regulation
- Debt Management
The Uniform Consumer Credit Code regulates the “terms and conditions of consumer credit in the State of Colorado.” This includes non-bank lenders. Colorado will investigate complaints and take appropriate disciplinary action against offenders.
The Collection Agency Regulation deals with debt collectors. Colorado will punish any debt collectors who violate the Colorado Fair Debt Collection Practices Act.
When you want to consider debt settlement in South Aurora, CO, you will deal with debt management organizations – non-profit credit counseling and debt settlement companies.
South Aurora Debt Relief Resources
If you need to learn more about debt management, then you can talk with financial experts. They can teach you terminology and laws. Here are some South Aurora, CO debt management resources:
- Ace Consumer Credit Counseling
- Cohen&Cohen Bankruptcy Attorneys
Debt management can be a challenge. You might be faced with a number of complicated financial terms, which you don’t fully understand. Get the help you deserve with debt settlement in South Aurora, CO.