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Debt Consolidation in Idaho

According to the Urban Institute, 28.3 percent of consumers in Idaho have had their debt turned over for collections. Debt is sent to collections if it is more than 180 days overdue, which can negatively affect a consumer's credit rating for over seven years.

While the percentage may seem high, Idahoans actually have some of the lowest amount of debt in collections in the nation. Consumers who have had their debt turned over to collections still are afforded protections from both the state and federal governments on how that debt may be collected.

Under the Fair Debt Collection Practices Act, debt collectors are required to treat consumers fairly and are prohibited from engaging in certain practices in an attempt to recover money owed to creditors. The Idaho Department of Finance also requires collection agencies to be properly permitted to operate within the state. Agencies that obtain permits must adhere to Idaho statutes and rules in addition to federal law.

Consumers who wish to reduce their debt have options, even if that debt has been turned over for collections. Working with a consumer credit counseling agency can help consumers to negotiate lower monthly payments with creditors, or apply for debt consolidation programs if they qualify. As a last resort, consumers can file for bankruptcy; however, the ramifications of doing so will remain with them for up to seven years, affecting their ability to acquire new credit.


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Debt Consolidation In The News

Here are some ways to pay off student loans, using other people's money

More employers are looking into offering student debt assistance. Yes, volunteering can bring you debt relief. As student debt grows, so do the plans to squelch it. Load Error A new federal program of...

Published:  Fri, 15 Feb 2019 06:00:00 GMT

Tips To Strengthen Finances Before Another Recession Shared By National Debt Relief

The last Recession in 2008 affected a lot of people that is why National Debt Relief shares this article to help people prepare for another recession. The article titled "How To Strengthen Your Financ...

Published:  Thu, 14 Feb 2019 08:40:00 GMT

Mexico to pump $3.6 billion into ailing oil firm Pemex in relief plan

Formally known as Petroleos Mexicanos, the firm holds roughly $106 billion in financial debt, the highest of any national oil company in Latin America. Pemex will receive $1.8 billion in pension ...

Published:  Fri, 15 Feb 2019 05:38:00 GMT

Bill seeks to incentivize MT child protective specialists with student loan relief

HELENA - Charles Asmus, a child protective specialist in Montana, told the House State Administration Committee Wednesday that he'll owe about $190,000 after he gets his doctorate. But, he ...

Published:  Thu, 14 Feb 2019 13:08:00 GMT

Cleveland Heights council looks at Community Improvement Corp., college loan relief

CLEVELAND HEIGHTS, Ohio -- With formation of a new municipal Community Improvement Corporation in the works, Vice Mayor Melissa Yasinow is already looking into a student loan assistance grant program ...

Published:  Mon, 11 Feb 2019 22:16:00 GMT

The world is swimming in a record amount of debt, and there's no relief in sight

Last year, the world's debt rose to $244 trillion, or 318% of global GDP, according to the Institute of International Finance. The world is now "pushing at the boundaries of comfortably sustainable de...

Published:  Wed, 13 Feb 2019 16:57:00 GMT

Natty Light Might Be Our Best Hope for Student Loan Relief

If you didn't chug a Natty Light while surrounded by bros, did you even really go to college Natural Light is not "good" beer per se, but for many novice drinkers, who gives a shit It successfully s...

Published:  Tue, 15 Jan 2019 14:53:00 GMT

Loan-relief event deferred yet again

BATHINDA: The Wednesday event to hand over farm debt relief certificates to small farmers by chief minister Amarinder Singh at his ancestral village Mehraj in Bathinda was again postponed. Now, the pr...

Published:  Tue, 22 Jan 2019 23:45:00 GMT

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