 |
First Name: |
 |
Last Name: |
 |
Phone Number: |
 |
Email Address: |
 |
Debt Amount: |
 |
State: |
 | All information you submit is safe, secure, and confidential. |
 |
Pay off your debt without filing bankruptcy or taking out a loan! |
|
Potentially reduce your monthly payment and the amount you owe! |
|
Get a free consultation from one of our debt specialists! |
|
| |
| Idaho |
|
With the number of people in Idaho finding themselves in credit card debt climbing, so too have the debt consolidation companies and consumer credit counseling agencies who are offering help. Although all debt management firms may seem the same to some, in reality they vary quite significantly. For one, some debt elimination companies offer vastly different services. Secondly, the ethics and practices varies substantially within the debt relief industry. In order to protect yourself from potential frauds, one must first be educated on the types of credit services being offered. The most common type of service offered in Idaho is consumer credit counseling. These services are usually offered by non profit debt agencies, who offer education programs and budgeting help to consumers. If you situation permits, they may enroll you in a debt management plan to get creditors to lower your interest rates. These programs offer the convenience of consolidated credit card payments, as well as a shorter timeframe for getting out of debt. Another type of debt management being advertised is known as debt settlement. This type of strategy aims at negotiating with creditors to lower the amount you owe. It is a fast debt solution, but there are many downsides to consider prior to choosing this avenue. When a consumer enrolls in these plans, they stop paying their credit cards and instead save the money each month into a separate bank account. During this time, since the creditors consider the debt past due, they report it as such to the credit bureaus and initiate collections activities accordingly, including phone calls and threatening letters. In some cases, a creditor may even pursue the balance in court. Idaho Debt Management Laws Finding what type of debt assistance is appropriate for you is one thing, finding the right company is another. When searching for the right company, other than checking out the PayingPaul.Com review, as well as the company’s BBB report, a good way to cross-reference a credit counselor is to check out the fees mentioned in their contract with what is allowable by state law. In Idaho, there are strict regulations in place that limit what a debt company can charge clients. Definition The law, which is in the Idaho Debt Collection Agency Act, any service “which engage or offer to engage in the business of receiving money from debtors for application to or payment of or prorating of any creditor or creditors of such debtor”, must be licensed to do so in Idaho. It goes on to also require for any business which “engage(s) or offer(s) to engage in the business of providing counseling or other services to debtors in the management of their debts, and contracting with the debtor to effect the adjustment, compromise, or discharge of any account, note or other indebtedness of the debtor.” The law requires that debt management companies be an exempt non-profit agency and have at least one office in the state. To learn more about the laws surrounding the credit counseling industry in Idaho, visit this site: http://www3.state.id.us/cgi-bin/newidst?sctid=260220032A.K Licensed Debt Agencies Debt Free America Alliance Credit Counseling American Consumer Credit Counseling American Credit Counselors American Credit Foundation American Debt Counseling American Debt Solutions Cambridge Credit Counseling Consumer Credit Counseling Services of San Francisco CCCS Consumer Credit Counseling Services of Northern Idaho CCCS Located in Lewiston, ID Christian Credit Counselors ClearPoint Financial Solutions Community Credit Counseling Consolidated Credit Counseling Services Consumer Credit Counseling Service of Magic Valley CCCS Consumer Credit Counseling Atlanta CCCS Consumer Credit Management Consumer Education Services Credit Advisors Foundation Consumer Financial Solutions Located in Boise, ID Credit Guard of America (CreditGuard) Debt Counseling Corp Debt Management Credit Counseling Debt Reduction Services Express Consolidation Family Credit Counseling Services / Family Credit Management Services Family Financial Education Foundation Novadebt Golden State Debt Management Greenpath Debt Solutions Harbor / Harbour Credit Counseling Services Help Ministries Debt Free InCharge Debt Solutions Auriton Solutions Consumer Credit Counseling Services of the Inland Northwest CCCS National Foundation for Debt Management American Financial Solutions Springboard Non-Profit Credit Management & Counseling Take Charge America Credit & Debt Counseling Other Resources Filing Bankruptcy in Idaho Bankruptcy Laws in Idaho Debt Collection in Idaho |