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Wichita is Kansas’ largest city. The city is known as the “Air Capital of the World,” and it was where Pizza Hut and White Castle hamburgers were founded. The city is home to numerous museums, art galleries, golf course, and theaters. The city is home to gorgeous weather throughout the year. The population is just under 400,000. Unfortunately, debt is a growing problem in Wichita. The average credit card debt for people in Wichita stands at just under $5,000, and the average credit score is 708. Even though the credit card debt is lower than the nation’s average, many people in Wichita find themselves in a tough situation financially. Credit card debt can really add up quickly, and no end is in sight. When you need drastic help, debt settlement could be what you need.

What is Debt Settlement?

Debt settlement is an option that many people use as an alternative to bankruptcy. They cannot pay their monthly bills, and they do not know where to turn. When this is the case, you might consider debt settlement. You can settle your debt on your own, or you can hire a debt settlement company to act on your behalf. Debt settlement companies will work with your creditors to settle your debts. It is possible to settle for less than 50-60% of what you owe.

Who Qualifies for Debt Settlement?

Before you consider debt settlement, make sure you are a good candidate. You need to have $7,000-$10,000 in debt. It needs to be unsecured debt; secured debt does not qualify. The debt settlement company will want to make sure that you can pay back the debt. In many cases, you must be behind on your payments.

Benefits of Debt Settlement

Debt settlement has numerous advantages. It is better than bankruptcy. Debt settlement stays on your credit report for 7 years, which is less than bankruptcy. In addition, debt problems can be extremely overwhelming. Debt settlement can relieve some of the tension and anxiety that you are feeling. Many companies have lawyers that will help. Debt collectors are not permitted to call you if they know you are represented by a lawyer.

With debt settlement, your monthly payments will be much lower than if you pay your creditors each month. Your credit score will decline, but after the settlement is complete, you can begin the process of rebuilding your credit. Paying off your credit cards takes a significant amount of time. Debt settlement takes time; however, with debt settlement, you will get out of debt much quicker.

Wealth and Poverty in Wichita

The census bureau at states that in Wichita, 71.9% of the people are white, and 11.5% are African American. 1.2% are American Indian, and 4.8% are Asian. The number of citizens who have a high school education stands at 87.5%, and the number of people who have a bachelor’s degree or higher is 28.3%.

Kansas Debt Relief Laws

The statute of limitations on credit card debt in Kansas is 3 years. Debt collectors are not allowed to pressure you or threaten you. They cannot can’t be violent or use criminal threats to try to collect a debt. Collectors cannot call you at work if you tell them not to do so. If you sent them a letter asking them to stop communication, they must do so. They are not permitted to call you before 8:00 A.M in the morning or after 9:00 P.M at night.

Wichita Debt Relief Resources

If you need a company to help you with debt, Wichita has numerous options that will meet your needs. Unfortunately, there are many companies that will try to take advantage of your vulnerability. They will tell you that they can solve your problem quick, and they might try to charge you a fee to get started. These companies are not legitimate, so do not fall for it. Look at the reviews online to see what other customers are saying.

Wichita is situated in the Midwestern portion of the country. The citizens who live in Wichita love their city. Debt can really put a hamper on things and can really affect your way of life. Don’t let financial problems get in the way of your happiness. Consider debt settlement as a way to eliminate your debt once and for all.