Anyone facing current credit card debt or other financial problems may relate to the phrase “ringing off the hook” where their telephone is concerned. Incessant calls from creditors can cause someone to become desperate in the need for immediate debt relief. However, some Louisiana residents may not know that there are actually federal laws governing what creditors can and cannot say or do in their attempts to collect debts.

For instance, a creditor may not call someone at home to discuss a debt situation before 8 a.m. or after 9 p.m. A creditor also can’t hound someone at work if an employer does not permit such calls. On the other hand, anyone who owes a debt can (and perhaps should) contact his or her creditor right away to discuss the issue and request an alternative payment plan until financial stability is restored.

Whether a particular debt is associated with a car loan, a home mortgage or college finances, any debt left unsatisfied for an extensive length of time may possibly lead to significant financial consequences. All it takes is a few incidents, such as a delayed bill payment, a few unwise purchases or a medical emergency or employment change for a once stable financial environment to unravel at the seams. If there’s no debt relief plan in mind, the situation could become too much to handle alone.

Seeking debt relief can be quite stressful, especially for those who are not familiar with the options. A Louisiana bankruptcy attorney is not only well-versed on the laws and regulations that govern debt relief issues throughout the state but can help design a plan to forge a path toward financial success. Sometimes, all it takes is a meeting to begin the process of overcoming unmanageable debt once and for all. 

Source: consumer.ftc.gov, “Coping with Debt,” accessed on Aug. 23, 2017