Arkansas Resident Debt Relief

InCharge provides free, nonprofit credit counseling and debt management programs to Arkansas residents. If you live in Arkansas and need help paying off your credit card debt, InCharge can help you.

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The average resident of Arkansas has a credit card debt of $4,791. This is lower than the national average of $5,315, however, Arkansas’s higher than average rate of poverty can have an exacerbating effect on borrowers struggling to repay debts. Over 17% of Arkansas residents live in poverty, Which’s 70% higher than the national average of 10.5%. This means more than a few residents of the “Natural State” are faced with the staggering challenge of overcoming debt while earning an income barely sufficient to cover daily needs.                                                       

InCharge Debt Solutions provides credit counseling and debt management services to Arkansas residents floundering under the weight of their debts. A nonprofit credit counselor can meet with you and go over proven methods for overcoming credit card debt, including a personalized debt management plan that takes into account your financial goals and obligations.

Debt Relief Options for Arkansas Residents

When you contact InCharge, you and a nonprofit credit counselor will go over your finances to determine what method of debt relief suits your situation. Your counselor may offer you a range of solutions or recommend enrolling in a debt management plan.

InCharge’s debt management plan works by reducing your monthly payments to levels you can afford.

It also consolidates all of your eligible credit card debt, making your payments easier to keep track of. Further, InCharge can have the interest rate on your eligible cards cut down to as low as 8%. Credit cards have an average interest rate of over 16%, and missing payments can drive rates even higher. There is no minimum credit score requirement needed to participate in the program.

Some borrowers may be better suited for other forms of debt relief. Here are some other options to consider.

Debt Consolidation Loan – This is an option for borrowers with good credit scores interested in saving money on interest. You can use a debt consolidation loan to pay off your unsecured debt and simplify the monthly payment process. The benefits are similar to those of a DMP, but a debt consolidation loan may be harder to qualify for since it involves taking out another loan.

Debt Settlement – Debt settlement is an opportunity to pay back less money than you owe. Debt settlement companies may be able to reduce your debt by up to 50%, however, your credit report will take a beating. Your savings may also be diminished by service fees you pay to the debt management company, and fines your account may accrue during the negotiation process, which can drag on for months.

Bankruptcy – This is an option for borrowers who have exhausted all other resources. A counselor can help you decide whether your accounts have reached the level where bankruptcy makes financial sense. Rather than dreading bankruptcy as the end of the line, think of it as an opportunity to regain your footing. The consequences are severe but not permanent. With proper budgeting and financial planning, you should be able to rebuild your credit profile after some years.

Arkansas Debt Resources

Here is a list of resources Arkansas residents can use to search for local and federal financial assistance. Below you can find links to programs offering medical, financial, employment and nutritional assistance, among others.

Arkansas Transitional Employment assistance: This is Arkansas’s version of TANF, a federally funded program that offers monetary and reemployment assistance. This program is for unemployed or underemployed families with children earning low-income                                      

Low Income Home Energy Assistance Program: LIHEAP is a federally backed program that offers low-income families assistance with paying their energy bills. There are two types of benefits: Regular, which is based on household size and income, and Crisis, which is based on ‘the amount of help a household presents as being necessary.’

Community Grant Program: This is a federal program designed to reduce poverty and promote self-sufficiency. It offers federal money to 15 different Community Action Agencies located around Arkansas. Eligibility is determined by household size and income. A household of 3 must earn under $27,150 to be considered eligible.

Veterans Affairs Regional Loan Center: This office helps veterans throughout the southwestern US, including Arkansas, secure mortgages, avoid foreclosures, and apply for housing benefits for the disabled.

ARKids First: This program offers health coverage for uninsured children living in Arkansas. It provides check-ups, immunizations, and more. Based on your income, you may be eligible for one of two programs: ARKids A, which is free of charge. And ARKids B, which may require a copay for some services.

Covid-19 Emergency Solutions Grant: This is a $23 million federal grant meant to prevent homelessness among individuals severely affected by the covid-19 crisis. It offers emergency shelters, street outreach and rapid rehousing services.

Arkansas Legal Aid Services: This site can put Arkansas residents dealing with civil disputes in touch with a pro bono attorney. You can find details on income eligibility requirements here.

Arkansas Rental Assistance: This website highlights a list of rental assistance programs available throughout Arkansas.

Arkansas Debt Statistics

Here are some statistics highlighting the state of Arkansas’ economy:

  • lists Arkansas as the 42nd richest state.
  •  Walmart, the world’s largest corporation by revenue, is based in Arkansas.
  •  Arkansas has a real per capita GDP of $45,498. The U.S average is $56,777.
  •  The top 5% of Arkansas earners make an average of $160,675.
  •  Over 17% of Arkansas residents live below the federal poverty line of around $12,000.
  •  Per capita spending in Arkansas sits at $8,367.
  •  Arkansas has a state debt of $6.74 billion dollars that is projected to reach $8.09 billion by the year 2025.
  •  Local government debt in Arkansas totals at 11.18 billion and is projected to reach 13.42 billion by 2025.

About The Author

Joey Johnston

Joey Johnston has more than 30 years of experience as a journalist with the Tampa Tribune and St. Petersburg Times. He has won a dozen national writing awards and his work has appeared in the New York Times, Washington Post, Sports Illustrated and People Magazine. He started writing for InCharge Debt Solutions in 2016.


  1. N.A. (ND) Citizen’s Guide: Poverty. Retrieved from
  2. State and Local Government Debt in Arkansas. (2020, July) Retrieved from /
  3. N.A. (2021, February) Real Gross Domestic Product Per Capita. Retrieved from