Posted by: admin on November 24, 2012 Under: debt relief in |
Getting rid of debt in Alaska is virtually the same as any other state in the nation. If you are looking for debt relief choices, you can get in touch with a debt management business who can help you in examining your financial standing, total debt and payment capabilities.
National Debt Relief can provide you with debt relief services in the State of Alaska. All you have to do is give us a call and you can get professional help that will lead you to rise above your financial woes. You can also send us your information through the short form on this page and we will have someone get in touch with you.
What we can do is to help you come up with a debt relief strategy that you can afford. We will present that to the creditor/collector on your behalf to come up with a reduced payment plan. The purpose is to have a certain percentage of your debt forgiven as long as you stick to the new payment term.
Apart from that, National Debt Relief is also here to help train you of your consumer rights based on the federal laws enforced by the Federal Trade Commission (FTC) and the state laws of Alaska. Despite being unable to pay off your debts, your collectors do not have the right to abuse, threaten or harass you and the people around you.
Please notice that anything you find on this page is just meant to be a source of debt collection facts in Alaska. It is not meant nor should it be treated as a legal advice.
Debt Collection Laws in Alaska
The State of Alaska follows the Fair Debt Collection Practices Act as enforced by the FTC. They also came up with state laws that can further protect consumers under their authority.
Based on Chapter 1, Article 3 (Sections 210 and 220) of the Alaska Administrative Code, the state laws forbid the subsequent debt collection practices:
Debt collectors are forbidden from calling your workplace unless the company and the debtor allows it.
A collector is forbidden from getting in touch with friends, employers (former and present), co-workers, neighbors, and other family members and talk about a debtor?s financial obligations. They are only permitted to do so to get advice on how to contact the debtor and they should correctly and truthfully introduce themselves.
Unless a property has been used for security, the collector has no legal claims over a debtor?s property and should not threaten to repossess it.
If the debtor is represented by a lawyer, the collector should quit communicating with them and deal with the representative instead.
Any type of misrepresentation of the collector?s identity is strictly forbidden (e.g. lawyer, government officer). The same holds true for the details of the debt like the sum.
The collector should not falsely tell the debtor of the rights to file a response or dispute to their demands. They are also forbidden from deceiving the debtor to signing any confession of judgement.
The collector is prohibited from adding any fees and costs on top of the debt originally owed by the debtor.
In addition to these provisions, the law in Alaska also says in sections 45.50.471 ? 561 that unfair trade practices and any violation can be sued in the state courts. If the courts rule in favor of the debtor, they can receive 3 times more than the true financial damages incurred by the untowardly actions of the collector. It is either that or $500, depending on which amount is higher. On top of this, you will also be paid for any legal costs and attorney fees spent on the legal action.
To file a charge, you can get in touch with the Attorney General of the State of Alaska. Their office will use your charge ? along with other consumers, to file a suit against breaking debt collectors and their various agencies.
There are three methods for you to file a charge.
By submitting charge form online.
By sending a formal written charge that can be sent to the office of the Attorney General at the Alaska Department of Law (Civil Division), Commercial and Fair Business Division. Here are the different addresses that you can use:
1031 W. 4th Avenue, Suite 200, Anchorage, AK 99501-1994; (tel)
907-269-5200 PO Box. 110300, Juneau, AK 99811-0300; (tel)
907-465-3600 100 Cushman Street, Suite 400, Fairbanks, AK 99701-4679;n (tel)
907-451-2811 By calling the nearest Attorney General?s office near you through the individual numbers provided in number
2. Debtors are also encouraged to submit your complaints with the FTC. They supply the Congress with a yearlyl report with regards to debt collection and also fair credit reporting practices and violations. To send your complaints, you can use this LINK.
For more information about the Fair Debt Collection Practices in Alaska, click on this LINK.
Statute of Limitations in Alaska
Alaska also has a list of statute of limitations (SOL) that protect debtors from old debts that were not acted upon by either the creditor or the collector representing them. Once the debts age long enough to surpass the statute of limitations, both the creditor and collector cannot go after the debtor or file a legal action against them.
The time limit for debts in Alaska is six (6) years for oral and written contracts. For promissory notes and open-ended accounts, the limitation is just up to three (3) years. The SOL countdown begins from the day the debtor defaults payment. This does not mean the count begins on your last payment but the date after you have not paid. For instance, if your payment is every 1st of the month and your last payment was on 2/1/2012, the SOL will begin on 3/2/2012. If this is a written contract, you will not be covered by the SOL until
3/3/2018. What Happens When the Debt Goes to Court
If a creditor or collector goes to court as a last resort to get the debtor to pay their debts, one of the first things to check is the statute of limitations. You need to present evidence of the age of the account. This can be in the form of the cardholder agreement and the letter from the collector with the name of the original creditor, the quantity of the debt and the date you stopped payments.
Should your debt be uncovered by the SOL, the state laws of Alaska enable the debtor to get the professional services of a debt settlement business. They can represent the debtor to help them reduce the outstanding balance of the debt to an amount that is satisfactory to both debtor and creditor.
However, if the creditor or the debtor cannot reach an understanding, they might be compelled to go to court. As the debtor, you can present in court evidence of your limited financial situation. The Alaska Courts will require at least 3 months of bank statements to show the debtors claim if being financially unable to pursue paying the debts. If the court rules a debtor as being ?judgement proof?, this means any opinion against them will be rendered useless to the creditor since there is nothing of value that can be taken as compensation for the debt.
When the court finds the debtor completely responsible for the debt, the creditor will be given judgement. They will be permitted to gather valuable assets and properties that belong to the debtor as payment for the debt owed. However, there are limits to what they are permitted to gather.
Here is a list of assets and properties that are exempted from being collected:
$54,000 equity of a house property (whether separately or co-owned)
$2,800 worth of personal things that the debtor needs to make a living (e.g. publications, gear, etc)
$350 (weekly) or $1,400 (monthly) of the debtors wages. If the debtor is the single earner in the family they are entitled to either $550 (weekly) or $2,200 (monthly) of their wages.
$3,000 worth of personal things like clothes, publications, home goods, family portraits, heirlooms and musical instruments
$1,000 worth of jewelry
$3,000 of a vehicle?s equity
$1,000 for pets owned
Burial plot
Recoveries for any personal injury or wrongful death (same value as the wage garnishment exemption)
Profits for any lost, destroyed or damaged property exempted from group
Health helps
Building materials
Insurance benefits for/from the following:
Impairment
$10,000 worth of contract or annuity loan from a Life insurance
Life insurance profits for policies wherein the beneficiary is the debtor?s spouse or any dependent (same value as the wage garnishment exemption)
Benefits from Fraternal benefit society
Qualified ERISA benefits (should have been deposited at least 120 days before bankruptcy filing)
Medical, hospital or surgical benefits
Pensions of teachers, judicial and public employees (benefits building up only)
Other pensions with the same value as the wage garnishment exemption (for payments being received)
Public benefits from the following:
Adult assistance (blind, handicapped and aged)
AFDC
Longevity bonus for Alaska residents
Compensation for crime victims
National public benefits
General Aid assistance
45% from dividends of permanent funds
Tuition credits from a contract for college tuition payment
Worker?s compensation
Compensation for unemployment
Company property (if involved in a venture)
Alimony (same value as wage garnishment exemption)
Child support from a collection agency
License for Liquor
Alaska Fisheries limited entry permit
There are also national exemptions that you may need to look into. See the FTC debt collection FAQ section.
Alaska is also one of the states implementing the community property law. However, couples have the option to sign up for it or not. The community property law means any property or asset incurred after marriage is co-owned by the couple. If one of them declares bankruptcy, properties and assets possessed by the couple can be taken by creditors/collectors.
?
List of Bankruptcy Courts in Alaska:
1. US Bankruptcy Court
648 Mission Street, Room 507
Ketchikan, AK 99901
2. U. S. Courthouse
101 12th Avenue, Room 332
Fairbanks, AK 99701
3. US District Court
Front Street
P O Box 130
Nome, AK 99762
Source: http://www.debtconsolidationcompanies.us/debt-relief-in/alaska-debt-consolidation/
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