If you’re a resident of Arkansas and find yourself struggling with unmanageable debt, there is an answer. 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.
Get the Arkansas Debt Relief You Need
If you are financially under water 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
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 Americor.