Many Arkansas residents know the feeling that comes when the realization hits that there is simply not enough coming in to make one’s monthly financial obligations. Often this realization comes over time, as consumers are able to juggle payments and use credit cards or cash advances to get by. Before long, however, it becomes apparent that no amount of shuffling will suffice to solve the problem, and consumers begin to consider their options for debt relief, including bankruptcy.

An alternative to filing for bankruptcy is working with a debt relief service to gain control over one’s finances. While there are certainly reputable agencies out there, this is a field in which scams run rampant, and where consumers must tread very carefully. Some companies charge high fees for their services, which can further complicate an individual’s finances. In other cases, paying back debts over time is simply not possible, and the consumer ends up having spent a great deal of money with no relief in sight.

The worst offenders in the debt relief industry are companies who prey upon financially beleaguered consumers in an attempt to run a scam. An example lies in agencies who collect the consumer’s monthly payment, but then fail to send those funds down the line to the actual creditors. By the time the consumer realizes what is going on, their financial situation has become far worse than that with which they started.

When looking for paths toward debt relief, Arkansas consumers should carefully weigh the pros and cons of each option. Bankruptcy is often a far more efficient and secure path out of debt than other options, including debt relief offers. While each set of circumstances is unique, it is well worth the time and effort to meet with a bankruptcy attorney for an initial consultation to see if this approach is a good fit for one’s needs.

Source:, “Not all debt management and credit repair customers have best interest at heart“, Lauren Rozyla, Aug. 7, 2015