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Why Debt Relief in Montana is Needed

Debt is a problem across the nation. However, the average amount of debt does vary from one state to the next. Each state also has its own laws regarding the bankruptcy process and debt. This makes debt management in Montana different from other states. Other factors that can influence the amount of debt in a state includes the median household income and the unemployment rate.

Despite low unemployment numbers and an average credit score of 709 in the state, the average amount of credit card debt held by a person living in Montana is higher than the national average, around $6600. This means that there is still a need for debt management services in Montana. By working with a debt relief agency, such as Debt Quest USA, you can receive professional help in deciding which debt relief program in Montana is best for you, whether that is debt consolidation, credit counseling, debt settlement or bankruptcy in Montana.

 

State Laws Regarding Debt Collection in Montana

It is important to know about a few laws when looking to become debt free in Montana. The state adheres to a set of laws called the Fair Debt Collection Practices Act, or FDCPA. These federal laws deal with collection agencies and the law firms that collect debt.

On top of these federal laws, the state has also instituted a maximum interest rate that a collection agency may charge to 10%. Montana also offers wage protection of up to 75% of disposable weekly income or 30 times the federal minimum wage.

To better understand the laws regarding debt collection in Montana, it is recommended that you seek legal advice from an state-licensed attorney or a center that offers debt management services in Montana.

Statute of Limitations of Montana and what it Means For You

The statute of limitations in Montana regarding debt is based on the maximum period of time in which legal actions may be initiated against the consumer. These statutes of Montana are based on a period of time after the debtor has become delinquent on their account. Statute of limitation laws vary from state to state, so it is important to seek help from a trusted company that offers debt relief in Montana.

Debt Quest USA Offers Debt Relief in Montana

If you are seeking to become debt free in Montana, Debt Quest can help with professional debt management programs in Montana. Debt management in Montana offers a variety of options to help you become debt free, including debt consolidation in Montana, consumer credit counseling, debt settlement and bankruptcy in Montana (both bankruptcy chapter 7 and bankruptcy chapter 13).

Types of Montana Debt Relief Programs and How They Work

There are several options for debt management in Montana available to help you become debt free in the state. A trained professional from a debt relief agency will be able to help you choose which course of action is best for you, whether that is debt settlement in Montana, a debt consolidation loan in Montana or some other option. The good news is, several of these debt relief options will help you save money in the long-run.

Debt Consolidation in Montana

One option for debt relief is debt consolidation in Montana. A debt consolidation loan in Montana is when all of your debts are consolidated into a single loan that often has a lower interest rate. This makes payment of your debts more affordable. Montana debt consolidation programs are perhaps the most common form of debt management in the state to help consumers become debt free. When working with a debt consolidation company in Montana, that company will negotiate the terms of your consolidated loan on your behalf with your creditors.

It is important to know about a few other things when using debt consolidation loans in Montana to become debt free. In some cases, once you have paid down enough of your debts through a Montana debt consolidation program, some debt relief agencies may choose to move to debt settlement in Montana with your creditors. However, not all debtors will qualify for debt settlement. It is also important to note that debt consolidation loans in Montana do not lower do not lower the total amount of debts owed, just the interest rate on those debts. To learn which form of debt management is best for you, consult with a trusted debt consolidation company in Montana.

Debt Settlement in Montana

Another type of debt relief is debt settlement in Montana. This is when a debt relief agency negotiates with your creditors on your behalf to lower the principal amount of debts owed. The agency may also be able to lower the interest rate on those debts. Because this type of debt relief in Montana eliminates some of the debt you owe through debt forgiveness, debt settlement can be a very appealing option. Unfortunately, not everyone will qualify for this type of debt relief. More often than not, debtors will qualify for debt consolidation loans in Montana. By working with a trusted agency that offers debt management programs in Montana, you will be able to learn if debt consolidation or debt settlement in Montana is the right option for you.

Consumer Credit Counseling

Our goal at Debt Quest USA is to help you get back to a state of financial health. This is why consumer credit counseling is such a great option for so many debtors. Credit counseling is when a debt relief agency provides you with classes on how to better manage your finances, including any current debts. The hope is that by taking credit counseling classes, you will better be able to handle your finances on your own in the future. Consumer credit counseling is often used in conjunction with other forms of debt relief, such as debt consolidation in Montana.

 

 

Bankruptcy in Montana

Filing for bankruptcy in Montana should be considered your last option after having exhausted all other options of debt management in Montana. This is because the bankruptcy process can leave long-lasting negative effects on your credit score.

Filing for bankruptcy in Montana includes two core options: bankruptcy chapter 7 and bankruptcy chapter 13. Before filing for bankruptcy, it is helpful to consult with a trusted debt relief agency or a bankruptcy attorney to ensure there are no other options for debt relief open to you, such as debt consolidation in Montana.

The great news is, Debt Quest can help! After speaking to a licensed debt program official, we will be able to understand your unique circumstance. Once we have a better understanding of your personal debt situation, the official can recommend the best option for you, whether that is bankruptcy, credit counseling, debt consolidation or debt settlement in Montana.

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How Much Can You Save?

How much debt do you owe?

$1

$100k+

What is your desired
monthly program deposit?

$1

$5000

Debt Quest Debt Settlement

$500

Your monthly
program deposit

$5,750 Savings

Your Savings

39 months to pay off your
current debt listed above.

Your monthly program deposit:
$500

Your Savings:
$5,750 Savings

39 months to pay off your
current debt listed above.


Debt Consolidation or Credit Counseling

$500

Your monthly
payment

You pay $14,478 more

No Savings

79 months* to pay off your
current debt listed above.

*Assumed average interest of 15%

Your monthly Payment:
$955

No Savings:
You pay $14,478 more .

36 months to pay off your
current debt listed above.

*Assumed average interest of 15%


Paying Minimum Monthly Payments

$500

Your monthly
payment

You'll Pay $29,199 More than you owe currently

No Savings

9 years* to pay off your current debt listed above.

*Assumed average interest of 20%

Your monthly Payment:
$500

No Savings:
You'll Pay $29,199 More than you owe currently.

32 years* to pay off your current debt listed above.

*Assumed average interest of 20%

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