Licensed Maryland Debt Relief Consultants

While nearly everyone in Maryland loves the Baltimore Ravens and the scenic coasts, they do not love the looming debt. The state actually has the fifth-highest rate of average debt in the entire country at $7,043. It ranks only behind Alaska, Connecticut, Virginia, and New Jersey. Much of that debt comes from the excessive student loans college students have to take out at four-year colleges within the state.

Luckily, there are plenty of Maryland based debt relief services available to help consumers like yourself come out on the better side of their debts, such as debt settlement. Our debt consultants can guide you through the process, speaking to you in depth about your current financial hardship, as well as your fiscal goals. Once we’ve established that settlement is the best option for you, we’ll work with your creditors to potentially lower your total debt repayment amount. This can make your monthly payments more manageable and possibly even decrease your interest.

Maryland Debt Relief Laws

With so many people suffering from debt and so many services, like ours at Liberty Debt Relief, to choose from, Maryland has established thorough laws to protect consumers. The Maryland Debt Settlement Services Act mandates that all service providers register with the Commissioner of Financial Regulation and defines debt settlement services as those that negotiate to settle a consumer’s debt.

Through this act, Liberty Debt Relief and other debt settlement programs in Maryland can only accept money from a consumer if they make no more than six installment payments per debt, have a separate bank account to hold consumers’ money to pay off the debt, and lower the debt principal with creditors.

It is always best to make sure your debt relief specialist is a part of a company that follows Maryland’s strict guidelines. To learn more about Maryland’s debt relief laws, and to find out how debt settlement can help your financial situation, contact Liberty Debt Relief today.