As you may remember, former Presidenr Bill Clinton hails from Arkansas. Since the 1830s, the state’s Hot Springs National Park has hosted notables as diverse as Franklin D. Roosevelt, Babe Ruth, and Al Capone. It’s entirely surrounded by the city of Hot Springs, the boyhood home of President Bill Clinton. The state boasts more than 600,000 acres of lakes and 9,700 miles of streams and rivers.
Arkansans are doing relatively well with their debts as their average credit card debt is $4535 per person. This compares with the average US credit card debt of $15,270. The average credit score for Arkansans is 677. This puts the state in the lower half of credit scores, as FICO’s median national credit score is 723. In other words, 50% of the people have credit scores higher than 723 and 50% have scores that are lower.
Arkansas’s total population is 2,915,918. This ranks it 32nd of all 50 US states. Little Rock is the state’s largest city with a population of 193,524. If you have add to this the population of North Little Rock (62,304) the Little Rock statistical metropolitan area has a total population of 255,828 making it roughly the same size as Chandler, Arizona, St. Petersburg, Florida and Birmingham, Alabama.
The second-largest city in Arkansas is Fort Smith with a population of 86,209, followed by Fayetteville with its population of 73,580.
Arkansas’s unemployment rate as of December was 7.5% versus the national average of 6.7%.
The city of Little Rock is doing a bit better than the state as a whole with an unemployment rate of 7.2%. Fayetteville, which is home to the University of Arkansas, had an unemployment rate of just 5.9% in December of last year. One of the brighter spots is Bentonville, which is the home of Walmart and as of this past December had an unemployment rate of just 5.3%.
Arkansas’ total labor force is 1,325,300 with 154,700 in manufacturing and 1,184,000 classified as non-farm workers
The state’s unemployment has been holding steady as nonfarm payroll jobs increased to 13,500 since November 2012. Plus, seven major industries reported growth with five of them adding 1000 or more jobs each. The largest increase was in professional and business services with an additional 5900 jobs. Administrative and support services showed a growth of 2800 jobs. Trade, transportation and utilities added 3900 jobs.
Credit Card Debt Negotiation in Arkansas
Arkansas’ Debt Negotiation and Debt Management Laws
We are pleased to inform the residents of Arkansas that our debt relief services are available in your state! There is help for those struggling with unsecured debts. Our debt consultants are always ready to speak with you and give you a free consultation – you can call now:
We provide debt negotiation and debt management services in the state of Arkansas. Debt negotiation is a great program for reducing your debts with your creditors into one low monthly program payment. This method works because you pay less yet the creditor still recovers some of their loss had you gone bankrupt.
However, you may not have to even apply for credit card debt negotiation if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.
(This is intended to be a helpful and informational debt resource for Arkansas consumers and does not constitute legal advice.)
Arkansas follows the set of laws that are collectively known as the Fair Debt Collection Practices Act (FDCPA).
Debt collector cannot send mail or telephone debtor at work unless a good-faith effort has been made to contact debtor at home and that effort has failed.
Maximum Interest Rate a Collection Agency Can Charge in Arkansas: 6%
Arkansas Wage Protection: 100% protection for 60 days
Statute of Limitations
A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but live in Arkansas, the applicable statutes of limitations would be Texas’).
Oral Agreements: 3 years
Written Contracts: 6 years
Promissory Notes: 6 years
Open Accounts (credit cards): 3 years
Whether you have unsecured credit cards, medical bills, personal loans or collection accounts, there’s help for you. The National Debt Relief Group offers a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.