Idaho is a state that takes care of it’s citizens by protecting them from credit and collection agencies. Idaho outlines penalties for each collection agency that works within Idaho before they do business within the state. If a collection agency violates the federal/state laws than they’ll be fined but the person that they are collecting form can pursue legal action, retain punitive damages, regular damage claims and reimbursement for legal expenses. If a creditor/collection agency does not violate any laws and the consumer is in debt. There is always a debt option industry called debt settlement.
The debt settlement industry was created to help consumers that got in debt, through hardships, divorce, bad life choices, etc. A debt settlement company has to follow the rules created by the FTC which includes not taking fees until a settlement is reached and agreed upon by all parties. Most debt settlement companies work by negotiating a lower rate/payment to the creditor or collector with whom they have forged relationships with. From here the debt settlement negotiator is working pretty hard at getting the lowest rate possible, below is more information how an Idaho debt settlement company might work.
Idaho Debt settlement is a perfectly legal solution for consumers who are deep in debt and seeking debt relief. Pay As You Settle (PAYS) is a program that fully adheres to the Federal Trade Commission (FTC) ruling for the debt settlement industry. The Federal Trade Commission’s ruling stated that any debt settlement company cannot charge for fees before services are rendered. Since PAYS was created with the consumer in mind,this program began months before the law became intact. The Pay As You Settle (PAYS) as an Idaho debt settlement program allows customers to have dedicated negotiators working with the consumers to make sure the debts are settled at a reasonable rate. Traditional debt settlement companies have consumers call in and every call is a new representative picks up, PAYS has dedicated person for every account to make sure the consumer is well taken care of. Debt Settlement is the process of negotiating with creditors to reduce an overall debt into a lump sum payment. The majority of debt settlement companies only work with unsecured debt; these include medical and credit card debts. Most debt settlement companies do not work with secure debt which includes student loans, auto financing and mortgages. If a collection agencies (junk debt buyer) calls to collect your debt, they sometimes take less than the amount owed because they bought the debt at a fraction of the cost. Most good debt settlement companies can cut the balance of the debt by 35-50% and then pay the creditor or collection agency with a lump sum to resolve the debt amount.
As with some Idaho Debt Settlement company, PAYS is a BBB accredited company that has been helping consumers with their debt settlement needs. Many companies are still following the traditional model where the consumer is charged a fee before working on their account. This has been outlawed by the Federal Trade Commission, but there are many Idaho debt settlement companies that are still trying to charge fees. PAYS realizes this is a problem and fully supports the consumer and government by not charging fees. We negotiate with your creditors so you don’t have to, we realize that debt is a problem but we want you to regain a sense of financial control so you can sleep at night. Our goal at pays is to make sure that your debts reach a reasonable settlement and to get you back on track to financial well being.
Our debt settlement program is free* for consumers with any amount of debt. If you feel you need help with your debt, fill out the form on the left or call 1-877-413-0338 to talk to our debt settlement negotiators.
Pay as You Settle® (PAYS) is the nation’s leading and only state-certified pay as you go debt settlement program. Our goal at PAYS is to ensure that each customer gets back on track to financial well-being.
*Debt settlement program is free until services are rendered
