Improve Your Financial Health in Arkansas: Consider Debt ConsolidationAugust 16, 2022
Based on Freedom Debt Relief’s June 2022 Credit Card Utilization Data, the average credit card utilization of people looking for debt relief in Arkansas is 78%. By comparison, per Experian, the average credit card utilization in the US in 2021 was 25%. High credit card utilization, in general, implies a greater likelihood of needing debt relief services. You can take comfort in the fact that there are steps you can take to reverse your situation. For example, one solution could be debt consolidation. The best solution for you will depend on how much debt you have and how quickly you’d like to clear it.
If you have more than $10,000 in debt, are willing to stretch out your payment period and want a simple monthly program payment, debt consolidation might be the solution for you.
Arkansas Debt Consolidation Loans
It’s time to defeat your debt. And luckily, there are many paths that could lead to debt freedom, including debt consolidation. Arkansas residents with high debt could be eligible for secure loans from reputable lenders.
Secure loans leverage high-value assets, like your home or car, to attain a loan with a reasonable interest rate. However, you may be at risk of forfeiting your assets if you can’t repay your loan. There’s a risk/reward element to debt consolidation, but as long as you stay on top of your payments, the risk portion shouldn’t be an issue.
If you have no collateral to leverage, you could still take out an unsecured loan. However, because your lender is taking on more risk when they extend you credit with an unsecured loan, it’s likely that you’ll have a higher interest rate. If you can’t get a reasonable interest rate, you might want to find another solution.
Arkansas residents can call Freedom Debt Relief at 800-910-0065 for a free debt evaluation to find out whether debt consolidation is right for their your situation.
Find Your Solution
If debt consolidation isn’t right for you, don’t despair. Arkansas is home to a number of debt relief options. To find your path to financial freedom, just follow these steps:
Call Freedom Debt Relief at 800-910-0065 to receive a free debt evaluation. Our debt specialists can help you find the right solution that fits your unique debt situation.
Choose a debt solution. The debt specialists will recommend a debt solution to you depending on the results of your free evaluation.
Follow through to financial freedom. No matter what you choose debt consolidation, debt settlement, debt counseling or any other solution the most important part is that you follow through. There’s nothing easy about resolving the massive debt. It takes time, commitment and a willingness to work hard now, so you can have true freedom later.
Request a free debt evaluation to find out how we could help you:
- Resolve your debt faster
- Significantly reduce what you owe
- Make one low monthly program payment
Get Financial Help Now
In addition to being home to the world’s number one retailer, Walmart, five other Fortune 500 companies–Tyson Foods, J.B. Hunt, Dillard’s, Murphy USA, and Windstream–have their corporate headquarters in Arkansas. You may even work for one of these companies–but that doesn’t necessarily mean you’re debt-free. In 2015, the average personal income was $39,107, which ranks your state at 45 out of 50. The median household income from 2011–15 was only $41,371, ranking second from last in the nation. It’s no wonder some Arkansas residents are struggling with debt. Take a look at some of the nationwide debt statistics:
One in 10 consumers has more than 10 credit cards, and the average consumer has four.
The average household is $6,500 in debt.
Approximately 2.5 million Americans seek debt relief services from credit counselors each year for heavy debt burdens.
Don’t wait any longer to get out of debt. Avoid the statistics, and start your journey towards financial freedom. Debt relief programs are currently available to Arkansas residents – agents are standing by. Call 800-910-0065 now for a free debt consultation.