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Debt Consolidation in Iowa

In the state of Iowa, 4.1% of residents have past due debt; 26.3% of that debt is currently in collections with an average balance of $4,810. In contrast, the overall cost of debt in Iowa is the lowest of all 50 states, with an average cost of $129,394 over a consumer's lifetime. This is largely due to the fact that Iowans also tend to have the lowest overall new mortgage amount ($120, 467), mortgage interest rates that usually fall below the national average, and they maintain an average credit score of 689 statewide.

Iowa is in fourteenth place with respect to states with the highest credit card debt, with the average resident maintaining a credit card balance of $7048.77. On the other hand, Iowa ranks ninth highest overall when it comes to college students graduating with debt, with 69% of students carrying an average of $29,370 in remaining student loans on the day they receive their diplomas.

Bankruptcy filings in Iowa tend to be on the lower end of the nationwide scale, with approximately 2.17 individuals per 1,000 filing for bankruptcy in an average year.

Residents of Iowa who are considering bankruptcy should know that there are a number of assets that are exempted from collection such as equity in the home and public assistance benefits, and that debt consolidation might be a better option.

In Iowa, debt collectors are only required to be licensed if they bring in more than $25,000. Iowa Attorney General Tom Miller is further pushing for regulations on bank practices with respect to the processes by which faulty claims were issued against state residents.

The Secretary of State's office maintains a list of registered debt consolidation agencies in Iowa, and state law allows consumers to cancel a signed contract within the first three days, without penalty.

 

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Debt Consolidation In The News

Cabbies release flowers to mourn eighth suicide this year, implore city to help with crushing debt

Desai called for a debt relief program to restructure medallion loans. Her group is also trying to find a way to eliminate 20% of medallion owners' outstanding debt. Medallions, which give taxis the r...

Published:  Sun, 18 Nov 2018 03:25:00 GMT



Tips To Get Out Of Spending For The Holidays Shared By National Debt Relief

Holidays are fast approaching and it is synonymous to huge expenses that is why National Debt Relief shares some handy tips to manage holiday spending better. The article titled "How To Get Out Of Spe...

Published:  Sun, 18 Nov 2018 07:11:00 GMT



Should You Invest Or Pay Off A Debt

You may also consider the risk involved in borrowing any additional credit, such as a debt consolidation loan, to repay your debts or draining all your resources into repaying your debt along with ...

Published:  Mon, 19 Nov 2018 01:52:00 GMT



State projects in limbo as wages, debt eat up revenue

Salaries and debt repayment are taking the lion's share of Kenya's revenues, casting doubt on the effectiveness of the country's fiscal consolidation efforts. ALSO READ: Treasury holds Sh50b as auster...

Published:  Sun, 18 Nov 2018 13:05:00 GMT



Tanzania Debt 'Sustainable but Under Pressure'

Tanzania, and other poor countries, enjoyed debt relief under Heavily Indebted Poor Countries (HIPC) in November 2001. At the end of last year 54 per cent of countries in the Sub-Saharan had an ...

Published:  Sat, 17 Nov 2018 04:45:00 GMT



Pot stores consolidate to survive weak market

Sweet Relief has five locations on the North Coast and inland to ... capital is that marijuana business owners can't access traditional financing, such as loans, because of federal prohibition, Whitne...

Published:  Sun, 18 Nov 2018 05:24:00 GMT



FDIC: Regulatory Relief-Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires

consideration for community development loans, investments, and services in support of disaster recovery. * The FDIC also will consider regulatory relief from certain filing and publishing ...

Published:  Sat, 17 Nov 2018 17:26:00 GMT



Closed-End Funds Seeing Consolidation

"We welcome inquiries from other closed-end funds whose shareholders may be attracted to an emerging markets equity income strategy about joining the consolidation," according ... Municipal debt CEFs ...

Published:  Fri, 16 Nov 2018 23:00:00 GMT



Trump Loses To Obama With Student Debt Relief Ruling On For-Profit Colleges

The for-profit college industry will further challenge an Obama-era rule granting student debt relief despite the mandate going into effect this week. Trump's Department of Education, criticized for s...

Published:  Fri, 19 Oct 2018 04:32:00 GMT




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