Arkansas Debt Relief Help

Debt relief options in Arkansas

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Arkansas Debt Relief & Consolidation

If you’re a resident of Arkansas and find yourself struggling with unmanageable debt, there is help you can seek. Reaching out for the Arkansas debt help you need can keep creditors at bay while you work to stabilize your finances. Arkansas debt relief is the beginning of you taking back your financial future before you lose important assets. Just because you are behind on your debts, and already find yourself in a collection situation with the banks, doesn’t mean debt consolidation solutions aren’t available to help fix your financial problem.

If you are financially underwater and looking for a way to get out of debt, exploring your options includes knowing your rights and responsibilities under Arkansas laws. On average, Arkansas residents are carrying $5,578 in credit card debt, which is a burden that many find difficult to manage.

For Arkansas debt consolidation or other debt relief programs, understanding Arkansas’ Statute of Limitations is important to knowing your rights. Although it varies state by state, the statutes of limitations is a specific limitation on the time in which creditors can file legal action against you for past due debts. In the Nature State, the statute of limitations on outstanding debts are:

  • Oral Contracts—3 Years
  • Written Contracts—5 Years
  • Medical Accounts—2 Years

Debt Collection

Arkansas follows the set of laws known as the Fair Debt Collection Practices Act. A debt collector cannot send mail or call a debtor at work unless a good-faith effort has been made to contact the debtor at home and that effort has not worked.

Arkansas Debt Law

Maximum Interest Rate a Collection Agency Can Charge in Arkansas: 6%

Arkansas Wage Protection: 100% protection for 60 days

Arkansas Debt Relief from Americor

Finding the right path out of debt can be a daunting prospect. If you need to discuss the range of debt management options available to you, our team of financial experts is standing by to help you with a debt relief plan to help you to get back on your financial feet. Stop losing sleep over your debts and take control of your future with the help of an Americor debt program.

Arkansas Debt Relief FAQs

Find answers to getting out of debt in Arkansas

What is a Arkansas Debt Relief Program?

Debt relief in Arkansas: What to know

Arkansas debt resolution can come in several forms. Debt relief programs are designed to help people struggling with debt to develop a structured plan to get out of debt. Such programs can include debt management, debt consolidation, debt settlement and even bankruptcy as a last resort for help with debts. 

What is the statute of limitations for collecting a debt in Arkansas?

The statute of limitations in Arkansas

The statute of limitations in Arkansas is five (5) years. This applies after five years of no payments being made after the credit card account is closed by the creditor or consumer. This includes payments to collectors or the original creditor of your debts. 

Is Arkansas debt relief help legit?

Some debt relief companies are more reliable than others. Companies that want money upfront and have no accreditations would be higher risk options. Be sure to research any debt resolution program thoroughly when searching for financial freedom. 

Are debt consolidation loans a good idea?

Debt consolidation loans: Good idea or bad idea?

Consolidating many high interest debts into one lower interest loan can help save you money. Debt consolidation can be a bad idea and lead to more debt if the loan interest rate is equal or higher than the existing debts. It can also be tempting to continue to use credit cards after transferring the balance which can lead to an even bigger debt hole.

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