The state may be best known in this political climate as the home of one-time Democratic President candidate Bernie Sanders, is the second least populated state in the nation with close to half a million residents. Only Wyoming ranks lower with fewer residents.
After the British defeated the French in the early 18th Century, the new settlers ceded from England and declared their independence separate from the original 13 colonies. In 1791, Vermont finally became a part of the union as the 14th recognized state.
Vermont folks have an independent spirit, and their economy is fueled by maple syrup flowing from the trees of their omnipresent forests. Indeed, the state supplies more than 2 million gallons of syrup each year, easily outpacing any other state’s production of the sticky stuff.
Ben & Jerry’s Ice Cream, is perhaps Vermont’s most widely-known export as the ice cream company’s headquarters are in Burlington. Coffee is also a major export as Green Mountain Coffee Roasters are made in the state.
It’s also wonder that dairy farming is Vermont’s biggest mass industry, producing $470 million worth of milk each year.
Is Vermont Debt Free?
Vermont is 40th in the United States for average credit card debt with just $6,545 per household. The state also boasts one of the highest average credit scores in the nation at a 702, a whopping 33 points better than the national average.
With such a small, dense population, it’s no wonder their student loan debt is so miniscule at just $2.6 billion. The largest cities in Vermont in order are: Burlington, South Burlington, Rutland and Essex Junction.
Vermont Debt Fast Facts
- Population: 624,000
- Median Household Income: $60,782
- Average Credit Score: 702 (the national average is 669)
- Average Credit Card Debt: $6,545
- Average Student Loan Debt: $35,135
- State Debt Total: $3.7 billion
Debt Relief Laws That Aid Vermont Citizens
Disclaimer: The information shared herein is intended to be a free resource for Vermont consumers looking to dismiss debt and does not constitute legal advice.
Whether battling credit card debt, medical debt or private student loan debt, Vermont has long been known for passing laws that aggressively protect its citizens and seek to dismiss debt.
If you are embroiled in a deepening debt situation in Vermont, 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 get debt resolution 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 Vermont residents specifies exactly what a third-party debt collection service can and cannot do. 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.
Whether battling credit card debt or medical debt, Vermont residents 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, you can sometimes dismiss debt with the aid of a debt defense attorney 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 get out of debt in Vermont 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 you suddenly debt free. 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 dismissing debt.
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 hopefully dismiss debt and avoid debt collectors 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 advise about statute of limitations in Vermont for swift debt resolution so you can once again be debt free.