Managing debt can be stressful and overwhelming, and many residents of Alaska are all too familiar with the effects of debt. Fortunately, debt relief programs are available to residents of Alaska, including debt consolidation services from Accredited Debt Relief.
Alaska Debt Statistics
- Alaskans struggle with the highest average credit card debt in the country, carrying an average debt of $13,048 per household.
- The median debt-to-income ratio in Alaska is 1.655.
- Alaska is the 7th most expensive US state to live in, with an average home price of $542,436 and average monthly energy bill of $257.97.
Why Freeing Yourself From Debt Should Be a Priority
In addition to the higher costs of utilities, food, healthcare and transportation that come with living in the Last Frontier, unplanned events like illness, injury and home damages make it easy to fall into debt. Credit cards can offer temporary relief in emergency situations, but failing to make minimum payments leads to more debt in the long run.
To avoid the unending cycle of increased interest charges and growing debt, it’s important to prioritize your finances and work towards paying off your outstanding balances. Getting out of debt can not only help improve your credit score, but the decreased stress that comes with well-managed debt can lead to health benefits and improved quality of life.
Benefits of Debt Consolidation
Whether credit counseling, debt resolution or bankruptcy is the best option for you, working your way out of debt alone can be incredibly hard. Debt relief companies can walk you through your options, advocate on your behalf and provide support and encouragement as you pay off your debts. In some cases, debt relief companies can negotiate with creditors to lower the amount that you owe. If you are considering bankruptcy or concerned that you won’t be able to pay off your debts, it’s time to speak with a debt relief service.
Alaska Debt Relief Program
Accredited Debt Relief provides debt relief services throughout the state of Alaska, including the Anchorage metro area, Fairbanks and Juneau. With an A+ BBB rating, we have worked with customers across Alaska to enroll them into a debt relief program that can lower the amount of debt they owe and successfully pay it off. Schedule a free consultation today to see how Accredited Debt Relief can help you begin your journey towards financial freedom.
Value Penguin: https://www.valuepenguin.com/average-credit-card-debt#by-region
Federal Reserve: https://www.federalreserve.gov/releases/z1/dataviz/household_debt/state/map/#year:2018