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Debt Consolidation in New Hampshire
(Note: this is for educational purposes only, and although efforts have been made to keep this up to date and correct, there are no guarantees about the accuracy of anything contained below. It should not be construed as legal advice. For legal advice, please consult with an attorney licensed in New Hampshire.)
Many New Hampshire residents undoubtedly are in need of debt consolidation advice and consumer credit counseling help. Although this may be the case, there is little in the way of education to help consumers in the state learn about the debt management solutions appropriate for their situation. The purpose of this page of PayingPaul.Com is to briefly introduce what debt options are here for assistance, as well as what debt companies can help given your situation.
The most common forms of debt repayment available are credit counseling and unsecured debt settlement. Although both are technically debt consolidation plans because they offer the convenience of one monthly payment and lower minimums, there is not much else that the two share in common.
Debt counselors will help you with budgeting and managing your finances. If your debt problem remains after taking these steps, your counselor may suggest you enroll in a debt management plan, which aims to reduce your credit card interest and reorganize your debt altogether. These programs are typically offered by non profit agencies and last between four to five years. Debt settlement companies, on the other hand, try to cut your debt by fifty percent, not just interest charges.
your credit score after debt settlement will suffer. Secondly, during the course of the negotiations, since your account is past due, creditor calls may continue. That being said, undoubtedly debt settlement is a great option to consider as an alternative to bankruptcy.
Do you want to speak with a debt consolidation professional? Submit a form now and start getting out of debt now.
New Hampshire Debt Management Laws
New Hampshire has certain provisions in place to safeguard consumers from bogus debt management services. Any company who falls under the following definition of a debt consolidator is bound to abide by the law:
(1) provides “debt management advice or counseling to consumers for direct or indirect compensation”;
(2) creates “debt management plans for consumers for direct or indirect compensation”;
(3) negotiates “with creditors on behalf of consumers for direct or indirect compensation”;
(4) receives, “for a fee or compensation as agent of a debtor, money, o evidences thereof for the purpose of distributing such money or evidences thereof among creditors in full or partial payment of obligations of the debtor.”
One of the most important parts of this law is what fees a debt consolidation company can charge. Based on the “amount required to pay indebtedness”, a company can charge:
(a) 10 percent when the plan of payment is for a period of 10 months or less;
(b) 12 1/2 percent when the plan of payment is for a period of more than 10 months but less than 18 months; and
(c) 15 percent when the plan of payment is for a period of 18 months or more.
It should be noted that the law exempts attorneys licensed in New Hampshire, banks, title insurance or abstract companies while doing an escrow business, employees of a debt management company, and anyone acting under a court order.
To learn more about debt consolidation and consumer credit counseling requirements in the state, follow this link: http://www.gencourt.state.nh.us/rsa/html/xxxvi/399-d/399-d-mrg.htm Licensed Debt Consolidators
AMERICAN CONSUMER CREDIT COUNSELING INC
CAMBRIDGE CREDIT COUNSELING CORP.
CAREONE SERVICES, INC.
CLEARPOINT FINANCIAL SOLUTIONS, INC.
CONSOLIDATED CREDIT COUNSELING SERVICES, INC
CONSUMER CREDIT COUNSELING SERVICE OF GREATER ATLANTA, INC
CONSUMER CREDIT COUNSELING SERVICE OF NEW HAMPSHIRE AND VERMONT
CONSUMER EDUCATION SERVICES, INC.
CONSUMERS ALLIANCE PROCESSING CORPORATION
CREDITGUARD OF AMERICA, INC.
FAMILY FINANCIAL EDUCATION FOUNDATION
GARDEN STATE CONSUMER CREDIT COUNSELING, INC.
GREENPATH INC
INCHARGE DEBT SOLUTIONS
MONEY MANAGEMENT INTERNATIONAL, INC
NATIONAL FOUNDATION FOR DEBT MANAGEMENT, INC.
TAKE CHARGE AMERICA, INC.
Other Resources
Filing Bankruptcy in New Hampshire
Bankruptcy Laws in New Hampshire
Debt Collection in New Hampshire
Many New Hampshire residents undoubtedly are in need of debt consolidation advice and consumer credit counseling help. Although this may be the case, there is little in the way of education to help consumers in the state learn about the debt management solutions appropriate for their situation. The purpose of this page of PayingPaul.Com is to briefly introduce what debt options are here for assistance, as well as what debt companies can help given your situation.
The most common forms of debt repayment available are credit counseling and unsecured debt settlement. Although both are technically debt consolidation plans because they offer the convenience of one monthly payment and lower minimums, there is not much else that the two share in common.
Debt counselors will help you with budgeting and managing your finances. If your debt problem remains after taking these steps, your counselor may suggest you enroll in a debt management plan, which aims to reduce your credit card interest and reorganize your debt altogether. These programs are typically offered by non profit agencies and last between four to five years. Debt settlement companies, on the other hand, try to cut your debt by fifty percent, not just interest charges.
Do you want to speak with a debt consolidation professional? Submit a form now and start getting out of debt now.
New Hampshire Debt Management Laws
New Hampshire has certain provisions in place to safeguard consumers from bogus debt management services. Any company who falls under the following definition of a debt consolidator is bound to abide by the law:
(1) provides “debt management advice or counseling to consumers for direct or indirect compensation”;
(2) creates “debt management plans for consumers for direct or indirect compensation”;
(3) negotiates “with creditors on behalf of consumers for direct or indirect compensation”;
(4) receives, “for a fee or compensation as agent of a debtor, money, o evidences thereof for the purpose of distributing such money or evidences thereof among creditors in full or partial payment of obligations of the debtor.”
One of the most important parts of this law is what fees a debt consolidation company can charge. Based on the “amount required to pay indebtedness”, a company can charge:
(a) 10 percent when the plan of payment is for a period of 10 months or less;
(b) 12 1/2 percent when the plan of payment is for a period of more than 10 months but less than 18 months; and
(c) 15 percent when the plan of payment is for a period of 18 months or more.
It should be noted that the law exempts attorneys licensed in New Hampshire, banks, title insurance or abstract companies while doing an escrow business, employees of a debt management company, and anyone acting under a court order.
To learn more about debt consolidation and consumer credit counseling requirements in the state, follow this link: http://www.gencourt.state.nh.us/rsa/html/xxxvi/399-d/399-d-mrg.htm Licensed Debt Consolidators
AMERICAN CONSUMER CREDIT COUNSELING INC
CAMBRIDGE CREDIT COUNSELING CORP.
CAREONE SERVICES, INC.
CLEARPOINT FINANCIAL SOLUTIONS, INC.
CONSOLIDATED CREDIT COUNSELING SERVICES, INC
CONSUMER CREDIT COUNSELING SERVICE OF GREATER ATLANTA, INC
CONSUMER CREDIT COUNSELING SERVICE OF NEW HAMPSHIRE AND VERMONT
CONSUMER EDUCATION SERVICES, INC.
CONSUMERS ALLIANCE PROCESSING CORPORATION
CREDITGUARD OF AMERICA, INC.
FAMILY FINANCIAL EDUCATION FOUNDATION
GARDEN STATE CONSUMER CREDIT COUNSELING, INC.
GREENPATH INC
INCHARGE DEBT SOLUTIONS
MONEY MANAGEMENT INTERNATIONAL, INC
NATIONAL FOUNDATION FOR DEBT MANAGEMENT, INC.
TAKE CHARGE AMERICA, INC.
Other Resources
Filing Bankruptcy in New Hampshire
Bankruptcy Laws in New Hampshire
Debt Collection in New Hampshire