Despite its diminutive stature in population, Iowa is a major player in launching the next President as the Iowa caucuses have become infamous for being the first state to vote for the next Presidential party candidate. In fact, former Presidents Jimmy Carter, George W. Bush and Barack Obama, all won the Iowa caucus and went on to win the White House.
Of course, when you think of Iowa, you think of farming. More specifically, you think of corn. After that leading crop comes cattle and pigs as Iowa leads the country in pork production.
With farming such a major Iowa industry, it’s no wonder that the production of farm machinery and equipment is one of the leading industries of its kind in the nation. And with its bounty of corn, it’s also no wonder that Iowa is a major cereal manufacturer (think corn flakes) and popcorn-production leader.
Movies owe a large debt to the Hawkeye state as Madison County, Iowa, was the home of the classic American novel-turned-film The Bridges of Madison County. While in the state’s oldest city, Dubuque, is where the “If you build it, they will come” tenet proved true for Kevin Costner’s character and baseball’s parable Field of Dreams.
Other major cities include Des Moines, Cedar Rapids and Sioux City.
The Overall Debt Situation in Iowa
Iowa ranked 38th in average credit card debt with just $6,696 in credit card debt per household. Iowa has been gaining in debt of late as the state took on 5% more debt in 2019 which was the state’s largest increase since 2011.
Student loan debt accounted for $12.4 billion at an average of $28,979 per student.
Iowa Debt Fast Facts
- Population: 3.2 million
- Median Household Income: $59,995
- Average Credit Score: 695 (the national average is 669)
- Average Credit Card Debt: $6,696
- Average Student Loan Debt: $28,979
- State Debt Total: $6.6 billion
Debt Relief Laws That Protect Iowa Residents
Disclaimer: The information shared herein is intended to be a free resource for Iowa consumers looking to dismiss debt and does not constitute legal advice.
Whether battling credit card debt, medical debt or private student loan debt, Iowa has long been known for passing debt resolution laws that aggressively protect its citizens. In addition, there are certain Iowa statutes of limitations that a debt resolve legal team can make you aware of.
If you are embroiled in a deepening debt situation in Iowa, 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 rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).
The FDCPA as it relates to Iowa 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.
Iowa 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 Iowa 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.
There are other debt collection acts unique to the state of Iowa 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.