Alaska Debt Statistics 2023: Facts about Debt in Alaska reflect the current socio-economic condition of the state.
LLCBuddy editorial team did hours of research, collected all important statistics on Alaska Debt, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂
Are you planning to start an Alaska LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.
How much of an impact will Alaska Debt Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.
Please read the page carefully and don’t miss any word.
On this page, you’ll learn about the following:
Top Alaska Debt Statistics 2023
☰ Use “CTRL+F” to quickly find statistics. There are total 20 Alaska Debt Statistics on this page 🙂Alaska “Latest” Debt Statistics
- Alaska Air Group ended the quarter within a goal range of 40% to 50%, with a debt to capitalization ratio of 50%.[1]
- According to TransUnion, the average unsecured personal loan amount in June 2022 was $7,860, up from $7,273 in June 2021.[2]
- According to SNA’s 2019 School Nutrition Trends report, 75% of districts have outstanding food debt, and the sum owed has significantly increased in previous years.[3]
- Total household debt increased by $351 billion, or 2.2%, in the third quarter of 2022 to reach $16.51 trillion.[4]
- Less than 10% of defendants in debt collection actions from 2010 to 2019 had legal representation, compared to virtually all plaintiffs, according to research on cases from 2010 to 2019.[5]
- The average Alaskan has $8,068 in personal debt, plus $223,430 of mortgage debt per capita.[6]
- According to the 2019 Experian Consumer Credit Review, Alaskans have the highest credit card balance, on average $8,026.[7]
- NCSC’s 2015 report remains the only national study of debt claims from the past 10 years, and despite a sample size of more than 925,000 cases from 152 courts in 10 urban counties, that study examined just 5% of state civil caseloads nationally.[5]
- Loans sometimes have interest rates of nearly 40%, making it simple to fall short when it comes time to repay, leading to a swift and hazardous debt cycle.[8]
- Alaska’s District Court, which tries all civil matters in the state for values of $100,000 or less, heard 48% more debt claims in fiscal year 2018 than 2013.[8]
- According to Fool, in 2022, 4% of Alaska population has a collection of medical debt, with a median value of $456 dollars.[2]
- Alaska 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.[6]
Alaska “House” Debt Statistics
- Filing for bankruptcy will hurt a credit score for the next 7-to-10 years, which likely hurt your chances of getting a loan to buy a home or vehicle.[9]
Alaska “Other” Debt Statistics
- The Alaska Permanent Fund Dividend (PFD) has provided UBI averaging $6600 US (2015) dollars for a family of four since 1982.[10]
- According to SNA surveys, 54% of school lunch programs reported a financial loss in the school year 2019–2020, 38% experienced a net loss in the school year 2020–2021, and another 12% were unclear about losses.[3]
- According to statistics from the Alaska permanent fund dividend division, more than 90% of the state’s residents regularly receive PFD payments each year.[10]
- According to 2021 data, Alaska is the safest state in the country for identity theft.[9]
- Kansas are 10 times more likely to become victims of identity theft than Alaska residents.[9]
- The NCSC discovered that, from 1992 to 2013, the percentage of defendants in general jurisdiction proceedings who had legal counsel fell substantially, from 97% to 46%.[5]
- Debt claims were the most common type of civil case in nine of the 12 states for which at least some court data were available—Alaska, Arkansas, Colorado, Missouri, Nevada, New Mexico, Texas, Utah, and Virginia.[5]
Also Read
- Alabama Debt Statistics
- Alaska Debt Statistics
- Arizona Debt Statistics
- Arkansas Debt Statistics
- California Debt Statistics
- Colorado Debt Statistics
- Connecticut Debt Statistics
- Delaware Debt Statistics
- Florida Debt Statistics
- Georgia Debt Statistics
- Hawaii Debt Statistics
- Idaho Debt Statistics
- Illinois Debt Statistics
- Indiana Debt Statistics
- Iowa Debt Statistics
- Kansas Debt Statistics
- Kentucky Debt Statistics
- Louisiana Debt Statistics
- Maine Debt Statistics
- Maryland Debt Statistics
- Massachusetts Debt Statistics
- Michigan Debt Statistics
- Minnesota Debt Statistics
- Mississippi Debt Statistics
- Missouri Debt Statistics
- Montana Debt Statistics
- Nebraska Debt Statistics
- Nevada Debt Statistics
- New Hampshire Debt Statistics
- New Jersey Debt Statistics
- New Mexico Debt Statistics
- New York Debt Statistics
- North Carolina Debt Statistics
- North Dakota Debt Statistics
- Ohio Debt Statistics
- Oklahoma Debt Statistics
- Oregon Debt Statistics
- Pennsylvania Debt Statistics
- South Carolina Debt Statistics
- South Dakota Debt Statistics
- Tennessee Debt Statistics
- Texas Debt Statistics
- Utah Debt Statistics
- Vermont Debt Statistics
- Virginia Debt Statistics
- Washington Debt Statistics
- West Virginia Debt Statistics
- Wisconsin Debt Statistics
- Wyoming Debt Statistics
- District of Columbia Debt Statistics
How Useful is Alaska Debt
One of the primary arguments in favor of Alaska debt is its ability to finance critical infrastructure projects. Infrastructure, such as roads, bridges, and public buildings, is vital to a state’s economic well-being and quality of life. By borrowing money, Alaska can invest in much-needed infrastructure improvements that create jobs, boost productivity, and enhance the overall livability of the state. Without debt, many of these projects would be delayed or even cancelled, leading to long-term negative consequences for Alaskans.
Additionally, debt can be used to stimulate economic growth during times of recession or economic downturn. By injecting money into the economy through public spending, the state can create demand, promote business activity, and help lift the economy out of a slump. In this sense, debt can be seen as an investment in the state’s future prosperity, rather than a burden on taxpayers or future generations.
Furthermore, Alaska debt can be instrumental in addressing pressing social needs, such as healthcare, education, and public safety. By borrowing money to fund important social programs and services, the state can improve the well-being and quality of life for its residents. This investment in human capital can lead to long-term benefits, such as reduced poverty, improved health outcomes, and a more educated and skilled workforce.
However, critics of Alaska debt raise valid concerns about the potential risks and drawbacks of borrowing money. Excessive debt can strain the state’s budget, leading to higher interest payments, reduced flexibility, and the crowding out of essential services. In the worst-case scenario, too much debt can lead to a debt crisis, forcing the state to implement austerity measures and cut critical programs.
In conclusion, the usefulness of Alaska debt depends on how it is managed and utilized. When used wisely and responsibly, debt can be a valuable tool to finance infrastructure projects, stimulate economic growth, and address pressing social needs. However, when taken on indiscriminately and without a clear plan for repayment, debt can become a burden on the state and its residents. It is crucial for policymakers to carefully consider the costs and benefits of borrowing money, and to ensure that debt is being used in a strategic and sustainable manner.
Reference
- alaskaair – https://investor.alaskaair.com/news-releases/news-release-details/alaska-air-group-reports-first-quarter-2022-results
- fool – https://www.fool.com/the-ascent/research/average-american-household-debt/
- schoolnutrition – https://schoolnutrition.org/aboutschoolmeals/schoolmealtrendsstats/
- newyorkfed – https://www.newyorkfed.org/microeconomics/hhdc/background.html
- pewtrusts – https://www.pewtrusts.org/en/research-and-analysis/reports/2020/05/how-debt-collectors-are-transforming-the-business-of-state-courts
- mycreditsummit – https://www.mycreditsummit.com/debt-consolidation/alaska/
- cnbc – https://www.cnbc.com/select/average-credit-card-balance-by-state/
- lendingtree – https://www.lendingtree.com/debt-relief/alaska/
- incharge – https://www.incharge.org/debt-relief/credit-counseling/alaska/
- sciencedirect – https://www.sciencedirect.com/science/article/pii/S0305750X1830024X