Have you been trying to get rid of credit card debt? We make it easier to find the Arkansas debt relief option that fits your budget, debt profile, and timeframe. Most debt relief programs in Arkansas will allow you to repay your debt in 2-5 years.
Debt Relief Options in AR
- AR Credit Counseling:
While credit repair is a fast way to raise your credit ratings, credit counseling is focused on managing debt, as well as financial education.
- AR Debt Consolidation:
Ordinarily, debt consolidation means working with a credit counseling firm to participate in a debt management plan. Your credit card providers must agree to this type of program. Usually they compensate your debt consolidation specialist based on a percentage of what you repay, which helps to reduce the cost to you, the consumer. Debt consolidation also can refer to taking out a home equity loan to repay the money you owe.
- AR Debt Settlement:
For residents of AR, debt settlement is an ever more popular way of becoming debt-free. It may drastically reduce your credit card debt; however, it takes a serious toll on your credit scores.
Arkansas Debt Report
The average debt per individual in Arkansas is, but 288,851 people are estimated to have at least $10,000 in credit card debt alone, which is about 13% of the population. Bankruptcy is also an issue in Arkansas. The bankruptcy rate is 0.48%, meaning there are 14,026 bankruptcies yearly.
Do you have more than $10,000 in debt? If so, you talk to a debt relief consultants.