How to Find Debt Relief in Arkansas

The University of Arkansas Razorback football team plays for the biggest school in the state.

What is now Arkansas was a land mass acquired by the United States during the Louisiana Purchase in 1803. Thirty-three years later, the land of the Razorbacks became a state.

After the Civil War, Arkansas embraced industrialism with railroad expansion in seeing the opportunity for farmers to have a more efficient way of getting their goods to the ever-expanding and evolving U.S.

In fact, the Union Pacific Railroad still retains headquarters in Arkansas as does meat stalwart Tyson Foods. But no other industry is larger in Arkansas – or the world for that matter – than the Wal-Mart empire which calls Bentonville home.

Other large cities in the state include Little Rock – the capitol and home of former President Bill Clinton – Fayetteville, Fort Smith and Springdale.

The Overall Debt Situation in Arkansas

Arkansas ranks a nice and low 37th when it comes to their average credit card debt. Having said that, the average Arkansas household credit score is a whopping 12 points lower than the national average which means a lot of folks – if they can get credit – are faced with very high interest rates.

Thus actually being unable to gain larger, intimidating lines of credit may be what’s helping keeping the state’s debt total a relatively modest $7.8 billion.

The University of Arkansas is the largest higher learning facility in the state. Without much competition for students, perhaps most of the state’s $11.5 billion in student loan debt is tied to that university.

Arkansas Debt Fast Facts

  • Population: 3 million
  • Median Household Income: $47,062
  • Average Credit Score: 657 (the national average is 669)
  • Average Credit Card Debt: $6,747
  • Average Student Loan Debt: $31,628
  • State Debt Total: $7.8 billion

Debt Relief Laws That Protect Arkansas Residents

Disclaimer: The information shared herein is intended to be a free resource for Arkansas consumers looking to dismiss debt and does not constitute legal advice.

Whether battling credit card debt, medical debt or private student loan debt, Arkansas has long been known for passing debt resolution laws that aggressively protect its citizens.

If you are embroiled in a deepening debt situation in Arkansas, Resolvly can help find an expert team of seasoned debt resolution lawyers to get debt advice that might eliminate debt or at least dismiss debt as soon as possible.

The Fair Debt Collection Practices Act

There are many ways to find debt relief and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific debt dismissal rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).

The FDCPA as it relates to Arkansas residents specifies how to eliminate debt by enforcing your consumer rights against harassing debt collectors. For example, a collector can only call an individual between the local hours of 8am and 9pm. In addition, collectors cannot harass individuals or threaten a citizen with bodily harm or the potential of arrest.

Arkansas locals in debt also have the ability to stop collectors from repeat callings by sending a physical letter to the agency requesting a cease and desist from the pestering calls. If the FDCPA is violated, a debt resolution company can find you debt defense attorneys who can help you get out of debt and also seek damages and attorney fees.

The Fair Credit Reporting Act

Another consumer protection law designed to assist Arkansas residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA) which can protect consumers against credit card debt becoming a lawsuit. The FCRA protects the privacy and accuracy of your personal credit history. If an entity violates your rights outlined in the FCRA, there are legal actions that could not only dismiss debt, but earn monetary damages in addition to the recoupment of attorneys’ fees. In addition, the statute of limitations to get out of debt in Arkansas is six years.

The statute of limitations for debt collection and thus debt dismissal is five years in Arkansas. There are other debt collection acts unique to the state of Arkansas that a debt resolution attorney can use to defend you in case of a debt lawsuit.

Let Resolvly Find The Right Debt Relief Lawyer

When it comes to dealing with debt – whether medical debt or credit card debt – ignoring the problem won’t make it go away. Utilizing the debt relief legal referral service of Resolvly, can help you hire a lawyer to get out of debt by helping you understand your specific circumstances, and clear the path to debt relief and debt resolution.

We work with consumer protection lawyers trained in debt relief to protect your rights, fight harassing debt collectors and hopefully eliminate debt completely.

Resolvly helps you hire a lawyer to help dismiss debt so that you can live debt free. Our goal is to help you attain true financial freedom and debt resolution. We offer a free consultation designed to refer you to a consumer defense attorney who will work to eliminate your debt. Simply call 866-955-5047 to speak with a debt freedom specialist who will help guide you on the path toward debt resolution so you can once again be debt free.

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