Alaska Debt Relief Program
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Alaska Debt Relief: Is It Possible?
While Alaska may not immediately pop into your mind as the largest state in the U.S., it actually is.
The state takes up more space than either California or Texas — the other two largest states in the country.
However, despite its size, Alaska also has a very sparse population. Much of the state is virtually uninhabitable due to the icy and wintry conditions throughout the year.
In addition to the extreme temperatures that some parts of Alaska experience, it is also home to over 100 volcanoes. However, these volcanoes rarely erupt.
There is lots of natural beauty to experience in Alaska, including numerous lakes and rivers, tall mountains, and glaciers.
It is also home to tremendous amounts of sea life, mammals, and fish. In fact, the largest salmon ever caught was caught in the Kenai River and weighed over 97 pounds.
Despite their state’s beauty and reputation as a beautiful location for those who love nature, Alaskans suffer from financial issues, just like others do across the United States.
Due to its location, it’s known for its high cost of living. Many people who live in Alaska take on debt in an effort to pay for expensive rent, the high cost of food, and transportation expenses.
This debt can lead to a need for Alaska debt relief.
*** SPECIAL NOTE *** – If your credit cards, personal loans, or medical debts have become unmanageable and you owe over $20,000… then go here for debt relief. We can help!
Credit Card Debt In Alaska
The average household in Alaska carries $14,164 in credit card debt.
This is much higher than the U.S. average of $8,590. In addition, inflation has surged, with gas prices in Alaska dwarfing those in other states. Costs for all basic living expenses are increasing, including housing, food, and transportation.
Alaska has one of the highest cost of living indexes in the nation. It’s the 6th most expensive state to live in, ranking with a cost index of 129.9, putting it just behind Massachusetts.
With such high prices, it’s no surprise that the average Alaskan finds themselves in an endless cycle of earning money, only to see it used immediately to cover the necessities, let alone address rising credit card debt.
If you owe credit card debt in Alaska, use the calculator here to find out how long it will take to pay off your credit cards by making only the minimum payments.
The calculator also provides you with the total amount of interest you’ll pay over time — money better put towards covering regular expenses or establishing a savings account!
Ready To Seek Alaska Debt Relief?
At Americor, we offer a number of programs for those seeking to get off the debt treadmill.
To learn more, review the links below to find out what option may be best for you:
As America’s trusted source for debt relief solutions, we aim to empower you with financial knowledge that can lead to informed decisions, whether it’s about savings, investments, or managing debt.
If your debt has become unmanageable and you have difficulty making your debt payments each month, then you should consider a FREE consultation call with one of our certified Debt Consultants, who can provide personalized debt relief advice tailored to your specific needs.
By taking proactive steps today, you can put an end to your financial stress and work towards a brighter financial future.
Remember, there is always hope for debt relief, and our team of experienced professionals are ready to guide you on your journey to regaining control of your finances.
For more information on Americor’s debt relief services, contact us today to see how we can help you eliminate your debts, and get on the fast-track to becoming completely debt-free!
Sources:
Top 20 Things Alaska is Known For & Famous For | Lyfepyle
49 Fun and Interesting Alaska State Facts — Gray Line Alaska Blog
2021 Credit Card Debt Study: Trends & Insights (wallethub.com)
Here are the five states with the highest gas prices today | The Hill
Cost of Living Index by State 2022 (worldpopulationreview.com)
“In 2020, I was drowning in debt. I enrolled in Americor for my 10 creditors for $110,000… and today (three years later) I have cleared my entire balance. It was not an easy process, but Americor guided me through and I am debt free!”
“I was down $80k in business debt, and I remember hearing Americor radio advertising. My credit score was down to 570 from 810. I’ve been in the program for over 3 years. It works, just be patient. And my credit score is currently back up to 710!”
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“My husband lost his eyesight completely due to a rare medical condition. His medical treatments totaled over $31,000 and insurance did NOT cover it, which left us no choice but to put these expenses on credit cards. Our monthly bills cost us over $850 each month…”
Alaska Debt Relief FAQs
Debt reduction programs come in a variety of forms. Each debt relief tactic comes with their own pros and cons. First thing to do is to get to know each of your options and find out which one is best for your specific situation.
Here are a few debt relief options in Alaska that can help get your finances back on track: Debt Settlement, Debt Consolidation Loans & Debt Management.
Debt Management Plans
Debt management is when you work with your creditors to lower your interest percentage to a lower amount and lower your monthly payment. Unlike debt settlement, you will pay back the entire amount owed on the debt – as a result, it will take longer to pay back the debt but your credit score will be less impacted, if impacted at all.
Filing for Bankruptcy in Alaska
Depending on your situation, you can file for either chapter 7 or chapter 13. Bankruptcy is more difficult and costly than many people think as you’ll have to pay lawyer fees, processing fees and depending on the type of bankruptcy, you might still have to pay back the entire debt owed.
Talk to an Americor debt relief professional, to discuss your specific situation to determine what’s the best way forward before jumping into any debt relief program in Alaska.
As you can see above, there are different types of debt relief programs in Alaska. Each one can affect your credit in different ways. You’ll need to determine which tactic is best for your situation. Some debt relief options won’t negatively affect your credit that much, if at all, others such as bankruptcy can take years to recover from.
Alaska Debt Laws
The Alaska Fair Debt Collection Practices Act was created to protect people behind in paying debts to not be harassed by creditors or debt collectors. It prevents collectors from lying or threatening you in attempts to recoup money owed. It also regulates what hours of the day collectors can call you and prevents them from talking to anyone besides the debtor about debts owed, such as spouses or other family members.
If you feel like a debt collector has violated the Fair debt Collection Practices Act, you can file a complaint with the Consumer Protection Unit in Alaska.
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.
Collection company trying to recoup debt?
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
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 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.
Avoid debt collection in Alaska
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.
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