Debt Settlement in Florida. Protecting the Consumer  

We all have heard it before; debt settlement is a nice solution for those who have debt problems.

There are aspects about debt settlement in Florida that need to be mentioned, so people can have a better understanding as to how debt settlement in Florida works, and if they think this method can help their specific situation.

Bear in mind that debt settlement can have an unfavorable consequence on your credit while you stay in the program, but that will change once you finish paying your debts off and our program. By then, you will be a debt free person once again and you will be able to focus on keeping yourself out of debt.

- What are the main characteristics of debt settlement in Florida? -

Let's take a look at some important points about debt settlement in Florida:

1. Lenders will not look with good eyes at your applying for a debt settlement in Florida; your credit score will also suffer a temporary shrinking. 2. Although applying for our type of debt settlement in Florida will lessen your credit score. But it will also help it because 35 percent of it comes from the credit history, and another 30 percent comes from the amount owed. Meaning that if you are behind on your payments your credit score will weaken anyway. It is better to take care of the problem and level your credit score up later. 3. Remember that whenever you fall behind on payments, your credit score will reflect it and eventually you will have to apply for debt settlement in Florida.

- Does the debt settlement in Florida have any weaknesses? -

Although debt settlement in Florida is a legal process that was built to ensure help in extreme debt cases, it is not perfect; what is? There are two main weaknesses in debt settlement in Florida: 1. The creditor is able to take legal action in order to collect the full amount owed 2. The creditor can also continue with his harassment tactics until the debt it's settled.

- Does the debt settlement in Florida have any special features? -

Applying for debt settlement in Florida has several advantages because the state has several debtor laws that provide consumers and lenders lots of protection when they accumulate unsecured debts, such as medical bills, credit card debts, repossessions, personal loans and some other types of debts.

Does debt settlement in Florida stop collection agencies? -

Whenever a client applies for a debt settlement service, the collection agency receives a power of attorney, which means they are forced to stop the collection calls and letters to the debtor. Any communication must go through the debt settlement company. That is what the law requires. Debt settlement in Florida goes a step beyond of what the law requires. Not only does the collection agency have to stop harassing the client, but so does the original creditor as well.

Debt settlement companies can help the client change his/her phone number and address in order to stop any type of harassment from the creditors; all is legal. Debt settlement in Florida works differently than in other states, but the debt settlement company will definitely stop the collection calls and letters in a matter of days.

What else is different with debt settlement in Florida? -

One of the most important one is that Floridian laws protect the "head of household" from having their wages garnished unless you, as the debtor, authorize the garnishment in written form.

In the end, debt settlement in Florida is an ideal solution for consumers overwhelmed with medical bills, credit card debt, personal loans, and repossessions.

We have different articles of interesting topics and current and former clients' experiences with our programs. Take a look at the different situations on debt related topics that people can fall into and how to keep yourself a debt free person. Check these links to learn more: