Maryland has long played a major role in the history of America. One of the original 13 colonies, Maryland officially became a state in 1788 and played a major role in the birth of our nation, not least of its historical fun facts include the fact that Francis Scott Key penned the “Star Spangled Banner” during the War of 1812. It was while watching the tattered, American stars-and stripes “still standing” and flying proudly above Fort McHenry that the song came to him.
Today, Maryland is a major trading port thanks to its strategic location. Also thanks to its strategic location next to the nation’s capital, Maryland employs the largest number of federal workers in the United States.
With the military in mind, Maryland is a hot bed for aerospace innovations that aid the defense industry that exceeds $57 billion. No wonder defense contractors such as Lockheed Martin and Northrop Grumman have set up shop here.
The Overall Debt Situation in Maryland
Maryland places at lucky number 13 when it comes to states with the highest debt in the nation. They also have the fifth highest average credit card debt at $7,043 per household.
The average student loan debt is high per person at 40,481 for a total of over $32 billion dollars in student loan outlay.
The biggest cities in Maryland that would like to get out of debt include Baltimore, followed by Columbia and Germantown.
Maryland Debt Fast Facts
- Population: 6.04 million
- Median Household Income: $39,960
- Average Credit Score: 672 (the national average is 669)
- Average Credit Card Debt: $7,043
- Average Student Loan Debt: $40,481
- State Debt Total: $28 billion
Debt Relief Laws That Protect Maryland Residents
Disclaimer: The information shared herein is intended to be a free resource for Maryland consumers looking to dismiss debt and does not constitute legal advice.
Whether battling credit card debt, medical debt or private student loan debt, Maryland has long been known for passing laws that aggressively protect its citizens.
If you are embroiled in a deepening debt situation in Maryland, Resolvly can help find an expert team of seasoned debt resolution lawyers to help 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 Maryland residents specifies exactly how you can get out of debt by fighting 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.
Maryland 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 Maryland residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA). 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.
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.