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Debt Consolidation in Arkansas

Arkansas MapMore than a third of Americans are in debt, according to statistics from the Urban Institute. Southern states are particularly high in their rates of delinquency, including Arkansas, where over 40 percent of the population is struggling to make payments on time each month. The most common debt for Arkansas consumers is mortgage debt, at 61.1 percent.

Consumers who are struggling to keep up with monthly payments have options. Credit counseling, debt consolidation and, as a last resort, bankruptcy, are among them. Bankruptcy should only be considered as a last resort because it will remain on a consumerís credit report for up to seven years and can affect credit rating.

While consumers are working out their options for debt repayment, they are protected by federal law from shady collection practices. Under the Fair Debt Collection Practices Act, debt collectors are required to treat consumers fairly and are prohibited from engaging in certain practices in an attempt to recover money owed to creditors. The law prevents credit collection agencies from harassing consumers by requiring them to call only during set hours of the day, and never are they permitted to contact a consumer at their place of employment. Consumers also have the right to put a request in writing for the collection agency to stop calling them about the debt, which the agency must honor.

While there are a number of consumer credit counseling agencies and debt consolidation companies in the nation, it is best to stick with a company that is familiar with the proper practices in Arkansas that will be the most familiar with debt consolidation in the state.

 

Arkansas tax cut plan advances to final vote in House

LITTLE ROCK, Ark. (AP) - A $97 million proposal to cut Arkansas' top income tax rate advanced Tuesday toward its final vote in the Legislature, but House leaders were unsure whether it has enough supp...

Published:  Tue, 12 Feb 2019 21:20:00 GMT



Arkansas House panel endorses tax cut for top earners, but GOP leader fears full vote to fall short

Legislation that would enact Gov. Asa Hutchinson's plan to slice the state's top individual income tax rate cleared an Arkansas House committee Tuesday, after its proponents said it would make the sta...

Published:  Wed, 13 Feb 2019 01:30:00 GMT



Arkansas House gives final OK to $97M tax cut plan

LITTLE ROCK, Ark. (AP) - The Arkansas House has given final legislative approval to the Republican governor's $97 million plan to cut the state's top income tax rate. The House voted Thursday 82-14 in ...

Published:  Thu, 14 Feb 2019 12:46:00 GMT



Arkansas Democrats unveil tax plan, credit for low-income residents

LITTLE ROCK, Ark. (AP) - Arkansas House Democrats are calling for scaling back the governor's tax cut proposal and offering a tax credit for low-income residents. The Democratic caucus on Monday unvei...

Published:  Tue, 12 Feb 2019 14:31:00 GMT



Arkansas House Panel Rejects Democrats' Tax Credit Plan

LITTLE ROCK, Ark. (AP) - An Arkansas House panel has rejected a Democratic-backed proposal to create a tax credit for low-income residents. The House Revenue and Tax Committee on Thursday rejected the ...

Published:  Thu, 14 Feb 2019 09:21:00 GMT



Arkansas legislator aims to nix personal property tax with constitutional amendment

It's the annual tax that big ticket items like cars and boats incur every year in Arkansas. But now one state lawmaker is seeking to get rid of personal property tax via constitutional amendment.

Published:  Thu, 14 Feb 2019 17:00:00 GMT



Arkansas governor unveils $300 million highway funding plan; includes gas tax hike

LITTLE ROCK, Ark. - Arkansas' governor on Monday unveiled a $300 million highway funding plan that calls for increasing taxes and tapping into expected casino revenue, hoping to win over fellow Republ...

Published:  Tue, 12 Feb 2019 07:18:00 GMT



Arkansas House Gives Final OK To Governor's $97 Million Tax Cut Plan

The final legislative act in Gov. Asa Hutchinson's legacy-setting tax cut trilogy was approved Thursday in the state House of Representatives with the necessary three-fourths vote after a debate on th...

Published:  Fri, 15 Feb 2019 09:29:00 GMT



$958M in taxes, fees supports upkeep of Arkansas roads

Arkansans pay nearly $1 billion every year in state taxes and fees that they are told will help improve or maintain 102,000 miles of state highways, county roads and city streets. The figure amounted ...

Published:  Tue, 12 Feb 2019 01:30:00 GMT



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