Alaskans take pride in their rugged individualism and self-reliance, but even the most responsible folks sometimes need help with out of control debt. Alaska debt relief and debt help is available for those who find themselves under water financially. You don’t need to go it alone when trying to find relief in troubled financial situations. Whether you want to explore your options under Alaska debt consolidation laws, or are looking for Alaska debt relief that gives you time to restructure your financial responsibilities, there is a debt solution for your family.
Consumer Debt in the Last Frontier State
For Alaskans trying to thrive in uncertain economic times, relying on credit cards to meet any unexpected expenses can be detrimental. In addition, the cost of living is exacerbated by the states remote location and limited resources. Alaskans hold the highest credit card balances in the nation with the average Alaskan family bearing $7,552 in credit card debt.
Understanding your rights and responsibilities regarding your creditors begins with knowing the statute of limitations on your accounts. 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 Alaska, the statutes of limitations on outstanding debts are:
- Contracts Under Seal—10 Years
- Contracts Not Under Seal—6 Years
- Open Accounts—3 Years
Debt Collection Laws in Alaska
The State of Alaska follows the Fair Debt Collection Practices Act as enforced by the FTC. In addition, there are state laws that can further protect Alaska consumers.
Based on the Alaska Administrative Code, the state laws prohibit the following debt collection practices:
- Calling your workplace unless the employer and the debtor allows it.
- Getting in touch with friends, employers, co-workers, neighbors, and other family members to discuss a debtor’s financial obligations. They can only get information on how to contact the debtor.
- Unless a property has been used for collateral, the collector has no legal claims over a debtor’s property and should not try to repossess it.
- If the debtor is represented by a lawyer, the collector needs to speak with them.
- The collector should not falsely inform the debtor of the rights to file a response or dispute to their demands. They cannot make the debtor sign any confession of judgment.
- The collector is prohibited from adding any fees in addition to the debt originally owed by the debtor.
To file a complaint, you can get in touch with the Attorney General of the State of Alaska. There are a few ways to file a complaint:
- By submitting a complaint form online.
- By sending a formal written complaint that can be sent to the office of the Attorney General at the Alaska Department of Law (Civil Division), Commercial and Fair Business Division.
- By calling the nearest Attorney General’s office near you.
For more information about the Fair Debt Collection Practices in Alaska, go to: http://www.law.alaska.gov/department/civil/consumer/debt.html
Alaska Debt Relief from Americor Financial
If you are trying to get out of debt and aren’t entirely sure where to turn, 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 the Alaska debt relief that you need to get back on your feet.