MIAMI, FL / ACCESSWIRE / August 13, 2018 / The consumer debt in the United States rose 7.6 percent in just a month from $3.873 trillion in April to $3.898 trillion in May 2018. The total non-revolving debt also rose 6.2 percent with a total of $2.858 trillion. This figure highlights the fact that millions of American consumers are facing debt problems.
Getting out of debt is a problem faced not just by working people but also students. In March 2018, school debt reached $1.521 trillion while credit card debts rose 11.4 percent with a total of $1.039 trillion. But getting out of debt is easier when consumers know about their rights, says Resolvly, LLC, a company that offers debt resolution to debt-ridden consumers.
What Happens When You are Billed Incorrectly?
Consumers may not know about it but they could be billed incorrectly. But under the Fair Credit Billing Act (FCBA), when a bill contains an error, the consumers must get a written explanation from the creditor the corrections that should be done to the consumer's account. No finance charges, late fees, or other charges related to the error of the creditor, should be collected from the consumer.
Problems in credit mismanagement are also worsened by banks who violate consumer protection laws. Consumers should be more aware of the guidelines which banks are known for breaking.
Hand-in-hand, We'll Fight for Your Rights
Resolvly, LLC also encouraged consumers to take a stand and sue creditors who violate the FCBA. A consumer who wins in the case may get damages and payment that could amount twice the finance charge between $100 and a $1,000. The creditor may also be ordered by the court to repay the expenses incurred by the consumer from filing charges against the creditor.
Resolvy, LLC says some creditors take advantage of consumers because they can. To make a stronger case, a consumer may seek legal advice from trusted debt relief service providers like Resolvy, LLC.
Debt specialists from
"True debt freedom is just a matter of deciding you cannot get out of debt and need help,- says Resolvy, LLC. The faster the consumer can seek help, the faster the debt resolution can take its course. Consumers may reach
1515 S. Federal Hwy., Suite 121
Boca Raton, Florida 33432
SOURCE: Resolvly, LLC