The Louisiana Purchase was an enormous land grant for the evolving United States, and Oklahoma became a part of the U.S. in 1803 as a result.
Oklahoma was a populous area with Native Americans who were sadly forced from the native land by then Army General Andrew Jackson, a future President. By 1840, the hundreds of thousands of American Indians had been forced to move west, killing an abundance of the tribes in what became to be called the “Trail of Tears”.
The “Sooner State” then became flush with oil drilling which to this day is Oklahoma’s primary economic force. Natural gas is also a major boon for the economy, especially in the energy-rich Oklahoma City, also the state’s capitol.
Debt Details in Oklahoma
For such a densely populated state, Oklahoma is surprisingly high in its average credit card debt per household, coming in at 16th highest in the nation with just over $8,000 per family in credit card debt. They are 13 points below the national average in their credit score.
While only 34% of the state’s population are college educated, Oklahoma still has a bloated student loan debt line of $13.8 billion or $30,134 per student.
Oklahoma City, Tulsa and Norman, the home of the University of Oklahoma, are the largest cities in the state.
Oklahoma Debt Fast Facts
- Population: 3.9 million
- Median Household Income: $51,924
- Average Credit Score: 656 (the national average is 669)
- Average Credit Card Debt: $8,059
- Average Student Loan Debt: $30,131
- State Debt Total: $9.8 billion
Debt Resolution Laws To Help Oklahoma’ Residents
Disclaimer: The information shared herein is intended to be a free resource for Oklahoma consumers looking to dismiss debt and does not constitute legal advice.
Whether battling credit card debt, medical debt or private student loan debt, Oklahoma has long been known for passing laws that aggressively protect its citizens and seek to dismiss debt.
If you are embroiled in a deepening debt situation in Oklahoma, Resolvly can help find an expert team of seasoned debt resolution lawyers to help eliminate debt or at least dismiss debt as soon as possible.
The Fair Debt Collection Practices Act
There are many ways to get out of debt and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).
The FDCPA as it relates to Oklahoma residents specifies exactly what a third-party debt collection service can and cannot do. 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.
Oklahoma residents 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 dismissal 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 Oklahoma residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA). 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.
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 you suddenly debt free. Utilizing the 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 dismissing debt.
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 hopefully 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 and perhaps invoke Oklhoma’s statute of limitations laws. Simply call 844-479-3457 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.