Welcome to Golden Financial Services, an A+ BBB rated and IAPDA certified Alaska debt relief company. We can offer you multiple options to help you with your financial situation, including debt validation and debt settlement. Alaska residents can also take advantage of getting a free consultation with an IAPDA certified counselor at (907) 885-6188.
During the consultation, we will explain your options to you, and if you’re eligible, we can help you enroll in the plan of your choice. We can offer you a free credit report and score today, making it easy for us to figure out what creditors you owe and what options you qualify for. There are no upfront fees, and you won’t feel obligated or pressured in any way whatsoever!
After fifteen years of operating and rescuing thousands of Alaskans from their debt problems, we now have more experience than any other company in the state. See what recent clients had to say (you can view from lowest to highest or sort in any way you choose, or even visit ShopperApproved.com directly to see verified client reviews about Golden Financial Services).
Alaska COVID-19 Related Debt Relief Options
- Are you facing potential eviction or utility shutoffs due to financial hardship caused by COVID-19? The Alaska Legal Services Corporation (ALSC) has created a form letter that you can submit to your landlord/utility company in order to delay eviction hearings for nonpayment of rent. CLICK HERE TO GET THE FORM:
- Have you experienced harassment or collection agencies threatening to garnish your wages? AKPIRG is collecting the stories of Alaskans who are struggling during the coronavirus shutdowns in order to direct their advocacy. Submit your story at the bottom of this next page here:
- Do you owe federal student loans? Federal student loan lenders were instructed by the Trump Debt Relief Administration to pause all federal student loan payments and interest charges. Learn more about COVID-19 related debt forgiveness programs by visiting this page next. You can also visit the Alaska Public Interest Research Group’s website directly for more information on how to get financial assistance if your income was impacted due to COVID-19.
Alaska debt statistics
Alaska is the most significant state in America, and one of the most beautiful with its snow-capped mountains and stunning landscapes.
However, statistics reveal that many consumers in Alaska are drowning in credit card debt. Alaska carries more credit card debt than any other state in the nation, according to ValuePenguin.com.
The average Alaskan has $8,068 in personal debt, plus $223,430 of mortgage debt. On average, residents have an open credit card balance of $8,516, and 46% of residents have a student loan, the average amount of which is $25,682. The average credit card debt in Alaska is 13% more than Wyoming, which is the next state carrying the highest credit card debt in the nation.
Part of the reason why credit card debt is so high in Alaska is due to:
- The high unemployment rate in the state, causing loss of income – leading to consumers needing to use credit cards for everyday purchases (The unemployment rate in the city of Juneau is 4%. The unemployment rate in Anchorage is 4.8%. The unemployment rate in Fairbanks is 5.8%)
- Alaskans have been using credit cards heavily to pay off medical bills.
- Inflation, leading to a rise in the cost of consumer goods.
How to Consolidate Debt in Alaska?
Alaska Debt relief programs are the best solution for consumers who are unemployed, behind on payments, or that can only afford minimum payments on credit cards.
If you are looking for a loan to consolidate debt, that is not something Golden Financial Services can offer you. We recommend you visit a local credit union to explore a consolidation loan option, as credit unions usually will offer the lowest interest rates on loans.
Here are some points to consider when contemplating which option to use to help you get out of debt:
- Alaska debt relief programs make it possible to reduce unsecured debt, including credit cards, medical bills, and unsecured loans. You can use a debt negotiation plan to reduce the balances on each of your accounts and consolidate payments into one.
- You get multiple debt repayment options in Alaska to choose from, including debt settlement and consumer credit counseling. But before resorting to settlement, consider a debt validation program (which we explain more about below).
- All debt relief programs in Alaska will consolidate payments into one affordable payment, but not all of these programs work the same. Depending on which repayment plan you choose will determine whether or not your creditors get paid every month.
- If you lost your job recently, you could pay off your debt in one reduced lump sum final payment through debt settlement. Alaska debt settlement programs can lower your total debt by around 30% (including fees).
- A large number of credit card and debt collection companies have been involved in fraud in some way or another, so by using debt validation, you could challenge the validity of each debt before paying. (which could lead to you only paying a small amount to resolve a large debt).
Bankruptcy (BK) in Alaska
Without a debt relief or consolidation program, Alaska residents who can’t afford their monthly payment have only one other direction to take. And that’s bankruptcy! Bankruptcy will destroy a person’s financial situation and make it very difficult to recover. Chapter 13 Bankruptcy will cost you around the same as a settlement program because the judge will require you to pay back at least half of what you owe, similar to debt settlement. Alaska residents in the lowest income bracket may be eligible for Chapter 7 bankruptcy, which is the preferred option because your debt can get eliminated within a matter of months through this type of BK. Most consumers in AK won’t qualify for Chapter 7 BK and will be forced to file Chapter 13.
Here at Golden Financial Services, we are not bankruptcy attornies but we can provide you some sound financial advice. With bankruptcy on a person’s credit report, they may not get approved for any type of credit for at least seven years, including renting an apartment or even leasing a car. And if you do get approved for any type of loan with BK on your credit report, you’re almost guaranteed to pay the highest interest rates a lender is legally allowed to charge.
State and Government Debt Assistance in AK
The state of Alaska and the government don’t offer any government debt relief or consolidation options for credit card debt. There are federal student loan consolidation programs, but no type of assistance for credit card debt. For information on federal student loan relief options, visit this page next.
If you can afford to pay more than the minimum monthly payments, in your case, there are additional debt relief options. You can use the snowball method to pay off debt. The snowball method was invented by Dave Ramsey, America’s top financial guru. This option can help improve credit scores while simultaneously enabling a person to pay off their bills quickly.
Talk to an IAPDA certified Alaska debt counselor at (907) 885-6188 and find out the simplest way to get out of debt today!
Golden Financial Services – one of the best Alaska Debt Relief, Consolidation and Settlement Companies
- A+ Better Business Bureau rated company
- Certified and accredited by the International Association of Professional Debt Arbitrators (IAPDA)
- Trusted Company Reviews ranked Golden Financial Services #1 Debt Relief Company in the Nation
Alaskans can now safely address any unsecured debt, including credit cards, student loans, and debt collection accounts all through Golden Financial Services.
Alaska Debt Relief, Settlement & Debt Consolidation Options:
- Cut credit card balances and monthly payment with debt settlement in Alaska.
- All debt relief programs in Alaska offer a single monthly payment for all debts.
- You can choose how fast you want to become debt-free
- Avoid needing a consolidation loan and avoid bankruptcy.
- Start with a FREE consultation.
How does Alaska Debt Relief Programs Affect My Credit Score?
Some downsides come along with most debt relief programs. Settling debt hurts credit scores. A person must be delinquent on payments to the point where accounts get written off and sold to collection agencies before their debt can be settled for less than the full amount. The reason for this is because after a credit card company writes off a credit card debt, at that point, they can get reimbursed through banking insurance and tax credits.
The original creditor then wipes their hands clean of the debt and sells it to a collection agency for much less than the full balance that was once owed. Consequently, at this point, the debt can be settled for a fraction of what you owed on it.
Alaska Consumer Credit Counseling
Are you looking to reduce your interest rates on credit cards?
You may be a perfect candidate for consumer credit counseling. This type of program has a minimal effect on credit scores because you remain current on payments.
With consumer credit counseling plans, interest rates get reduced, and your creditors continue to get paid every month.
You can expect to get out of debt in around 4.5 years with consumer credit counseling.
However, at the end of the program, your credit cards will get closed out, so that can lower your credit score, but again the effect is minimal compared to debt settlement. Alaska residents can choose from programs and options, depending on each person’s goals and situation.
To learn your options and check eligibility, call (907) 885-6188:
- We will get you a free credit report and score.
- We can help you figure out the easiest way to get out of debt.
- We can help you to accomplish your specific financial goals.
- We can tailor a program to fit your needs.
Try Alaska Debt Relief Program Calculator
This debt calculator tool is only providing an estimate of how much a person can save with each debt relief option. There is no guarantee that you will qualify for any of these plans. To check eligibility, you must call in and talk with an IAPDA certified debt expert.
To find out if you qualify for debt relief, Alaska residents can start with a free consultation by calling Toll-Free (866)-376-9846.
During your consultation, you may get a free credit report and find out all of your options to obtain debt relief. (no obligation or pressure involved with getting a free consultation)
What’s the preferred Alaska debt relief program?
Debt Validation – Best Alaska Debt Relief Program
Debt validation is the first choice for Alaska residents. Before paying their alleged debts, debt validation makes sure that the debt collection companies are abiding by the laws.
If a debt is invalidated, the debt may not have to be paid and can no longer legally remain on your credit report.
Debt Settlement Alaska – Choice two
If the debt collection companies are abiding by the laws, debt settlement would be the second-best route for Alaska residents.
A debt settlement program may be your fastest route to get out of debt, but it will adversely affect your credit score.
You have to stop the bleeding.
You can always rebuild your credit.
Debt Consolidation Alaska – Choice three
If you want your interest rates reduced, consumer credit counseling and debt consolidation will be your best options for debt relief. AK debt consolidation loans can be obtained at a bank, credit union, and even through a balance transfer card.
With debt consolidation and consumer credit counseling, a person stays current on their payments. Keep in mind, though, debt consolidation is a loan, and consumer credit counseling is not a loan.
Alaska is a beautiful state, but it’s time for Alaskans to improve their finances!
- Alaska consumers are eligible for a free professional consultation, with no obligation.
- You may be entitled to one new reduced & feasible payment to become debt-free in under 3-years.
- The company was just voted #1 debt relief company in America, by Trusted Company Reviews
- No unresolved BBB complaints and No unresolved Attorney General complaints
Debt relief options can make your life easier, having only one payment to worry about each month. Whether you live in New Mexico, Indiana, or here in Alaska, debt settlement, validation, and debt consolidation are all viable options. Depending on what your goals are, your credit score and other factors will help to determine which plan is best for you. Here at Golden Financial Services, a California based debt relief company, our job is to show you all of your options and help you find the best plan.