With its beautiful landscape, ample fishing opportunities and focus on college football, Arkansas is a fun and affordable place to call home. Unfortunately, many of the state’s residents find themselves struggling with overwhelming debt. If you are looking to take back control of your finances, Accredited Debt Relief may be able to help.
Arkansas Financial Statistics
- The debt-to-income ratio in Arkansas is 1.254
- Arkansans have an average credit card balance of $7,727 and a median annual household income of $48,689.
- A recent CNBC report ranked Arkansas as the third cheapest state to live in, but residents of Fayetteville, Searcy and North Little Rock have a higher cost of living than their neighbors.
Arkansas Bankruptcy Alternatives
If you’re deep in debt and struggling to make your minimum payments, it’s important to consider all of your debt relief options before resorting to bankruptcy. Although it is the best option in some situations, bankruptcy’s negative and long-lasting impact on your credit report can cause more trouble in the long run.
Consider the following bankruptcy alternatives before filing:
- Debt Management
- Debt Settlement
- Debt Consolidation
If you’re struggling to navigate your financial options, you may benefit from a free consultation with a debt relief company.
Arkansas Debt Consolidation
Accredited Debt Relief is a BBB accredited company providing an alternative to bankruptcy throughout much of the U.S., including Arkansas. Whether you’re in Little Rock, Fayetteville, Fort Smith, Springdale or elsewhere in the Natural State, our team is happy to review your financial situation and help you take control of your debt. Contact us today for a free, no obligation consultation.
Chamber of Commerce: https://www.chamberofcommerce.org/credit-card-debt-by-state
Federal Reserve State Level Debt-to-Income Ratio, 1999 - 2018: https://www.federalreserve.gov/releases/z1/dataviz/household_debt/state/map/#year:2018