Debt consolidating usa
Your state Attorney General’s office can help you find out your rights under your state’s law.
If you're unable to pay your creditors, filing for bankruptcy can help you get a fresh start by liquidating your assets to pay off your debts or create a payment plan.
A debt collector may not: Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB).
Many states have their own debt collection laws that are different from the federal Fair Debt Collection Practices Act.
You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.
To find out if you qualify, contact your local Armed Forces Legal Assistance office.
If you are unable to make payments on time, you could lose your home.
To decide if debt consolidation is right for you, contact a credit counseling service accredited with either of these organizations: If you have a problem with a lender concerning debt consolidation, you should first contact the lender.
The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you.Credit counseling services provide various resources to help solve your money problems.From starting a budget to educational programs on money management, counselors discuss your entire financial situation and help you develop a personalized plan.Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.