TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.

 

Go To Reviews >

Debt Consolidation in Colorado

The 2008 great recession wreaked financial havoc on a number of Americans. Although the federal government has declared the economy to be out of the woods and slowly rebounding, many consumers still are suffering with the debt they incurred due to lost jobs and stagnant salaries.

The average debt in Colorado is $74,340, with 31.2 percent of that currently in collections, according to statistics provided by the Urban Institute. Consumers who are struggling with debt have options in Colorado. They can seek credit counseling, apply for debt consolidation programs or, as a last resort, file for either Chapter 7 or Chapter 13 bankruptcy. While consumers decide which option is best for them, they have protections afforded to them from debt collection agencies.

Within the Fair Debt Collection Practices Act, collectors are required to treat consumers fairly and are prohibited from harassing consumers by requiring them to call only during set hours of the day, and never are they permitted to contact a consumer at their place of employment. Consumers also have the right to put a request in writing for the collection agency to stop calling them about the debt, which the agency must honor.

Consumer credit counseling agencies are able to assist consumers with debt consolidation by negotiating on their behalf with creditors. Working with a credit counseling agency can help consumers to get out of debt in as little as two to four years. They also may be able to negotiate with creditors to lower the total amount owed.

 

Go To Reviews >


Debt Consolidation In The News

9 Common Student Loan Myths That Can Cost Borrowers Big Time

Myth 2: Federal student loan consolidation will save you money on interest. Truth: A lot of times, the terms "consolidation" and "refinancing" are used interchangeably. In reality, they're two very di...

Published:  Thu, 19 Jul 2018 08:34:00 GMT



More student borrowers may be eligible to cancel federal student loans than have applied for relief

The large number of California students who attended for-profit colleges at the time of their closure suggests many more may be eligible for student loan debt relief than have applied under the federa...

Published:  Thu, 19 Jul 2018 21:20:00 GMT



Sobering Study Shows PLUS Loans Actually Widening Income Gap for African-American Families, Says Ameritech Financial

While PLUS loans were expanded to increase access to low-income students, they had the negative consequence of burdening two generations within the same family," said Knickerbocker. "At Ameritech Fina...

Published:  Thu, 19 Jul 2018 13:18:00 GMT



One loan vs many: Is debt consolidation the answer

PETALING JAYA: For those who are left with only meagre funds in their bank accounts after paying their personal loans every month, debt consolidation can sound like a very attractive prospect. Debt co...

Published:  Sat, 23 Jun 2018 05:00:00 GMT



IMF: Greek economy improved, but may need more debt relief

ATHENS, Greece (AP) - Greece has significantly improved its economy as it heads toward the end of its bailout program in August, but its debt will remain difficult to manage in the long term, the Inte...

Published:  Fri, 29 Jun 2018 12:41:00 GMT



How Greece's PM celebrated European debt relief package

Greece's Prime Minister has welcomed the decision by eurozone creditors to offer debt relief - and marked the occasion by wearing a tie. Alexis Tsipras often joked that he would start wearing a tie on...

Published:  Fri, 22 Jun 2018 15:48:00 GMT



Are you eligible to have your federal student loan debt canceled

Education Department Information on Debt Relief Process Consumer Financial Protection Bureau Information About Student Debt The Institute for College Access & Success Public Law Center The Debt Collec...

Published:  Thu, 19 Jul 2018 21:22:00 GMT



Nearly 35,000 former Corinthian College students in California will see debt relief

Almost 35,000 former Corinthian College students in California will have the remainder of their private loan balances forgiven and some may receive payment refunds after an investigation by the state ...

Published:  Fri, 15 Jun 2018 03:30:00 GMT




- View Full Site -