How to Eliminate Debt in Indiana

Downtown Indianapolis, Indiana, with the famous speedway track looming in the distance.

The state name “Indiana” literally means the “Land of Indians” because it was in this part of North America that Native American tribes called home for thousands of years before the 1600s when the white man arrived on this continent.

A century later after the Indian and French War was won by the French, they assumed control of the land. Indiana became a formal state in 1816 and economically began making serious advances in the manufacturing and transportation industries.

Today the most famous export, other than talk-show host David Letterman, is automobiles and parts. The car manufacturing industry remains a multi-billion money-maker for the state even though that industry has taken a blow in recent decades.

Suitable for a state so closely associated with machines that run on fossil fuels, Indiana produces and exports 36 million tons of coal annually.

Of course, associated with their automobile prowess, the state hosts one of the most famous races in the world each year – the Indianapolis 500.

The Overall Debt Situation in Indiana

Indiana ranks 21st in overall need of debt help in the U.S. Thus credit card and mortgage debts are in the lowest 20 percent of all states. Nevertheless, a quarter of adult Hoosiers still have difficulty paying their debts off on time and struggle trying to eliminate debt.

Indiana Debt Fast Facts

  • Population: 6.7 million
  • Median Household Income: $75,277
  • Average Credit Score: 667 (the national average is 669)
  • Average Credit Card Debt: $6,958
  • Average Student Loan Debt: $31,375
  • State Debt Total: $22.5 billion

Debt Relief Laws That Protect Indiana Residents

Disclaimer: The information shared herein is intended to be a free resource for Indiana consumers looking to dismiss debt and does not constitute legal advice.

Whether battling credit card debt, medical debt or private student loan debt, Indiana has long been known for passing debt resolution laws that aggressively protect its citizens.

If you are embroiled in a deepening debt situation in Indiana, Resolvly can help find an expert team of seasoned debt resolution lawyers to get debt advice that might eliminate debt or at least dismiss debt as soon as possible.

The Fair Debt Collection Practices Act

There are many ways to find debt relief and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific debt dismissal rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).

The FDCPA as it relates to Indiana residents specifies how to eliminate debt by enforcing your consumer rights against harassing debt collectors. For example, a collector can only call an individual between the local hours of 8am and 9pm. In addition, collectors cannot harass individuals or threaten a citizen with bodily harm or the potential of arrest.

Indiana locals in debt also have the ability to stop collectors from repeat callings by sending a physical letter to the agency requesting a cease and desist from the pestering calls. If the FDCPA is violated, a debt resolution company can find you debt defense attorneys who can help you get out of debt and also seek damages and attorney fees.

The Fair Credit Reporting Act

Another consumer protection law designed to assist Indiana residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA) which can protect consumers against credit card debt becoming a lawsuit. The FCRA protects the privacy and accuracy of your personal credit history. If an entity violates your rights outlined in the FCRA, there are legal actions that could not only dismiss debt, but earn monetary damages in addition to the recoupment of attorneys’ fees.

The statute of limitations for debt collection and thus debt dismissal is five years in Indiana. There are other debt collection acts unique to the state of Indiana that a debt resolution attorney can use to defend you in case of a debt lawsuit.

Let Resolvly Find The Right Debt Relief Lawyer

When it comes to dealing with debt – whether medical debt or credit card debt – ignoring the problem won’t make it go away. Utilizing the legal referral service of Resolvly, can help you hire a lawyer to get out of debt by helping you understand your specific circumstances, and clear the path to debt relief and debt resolution.

We work with consumer protection lawyers trained in debt relief to protect your rights, fight harassing debt collectors and hopefully eliminate debt completely.

Resolvly helps you hire a lawyer to help dismiss debt so that you can live debt free. Our goal is to help you attain true financial freedom and debt resolution. We offer a free consultation designed to refer you to a consumer defense attorney who will work to eliminate your debt. Simply call 844-479-3457 to speak with a debt freedom specialist who will help guide you on the path toward debt resolution so you can once again be debt free.

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