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Debt Consolidation in Maine

Maine falls within the bottom third of all states in the nation when it comes to bankruptcy filings, with an approximate 4100 residents filing for bankruptcy in an average year, or 3.11 filings for every 1000 residents. There are a number of debt consolidation agencies working to bring those filings even lower by giving individuals alternatives to filing for bankruptcy.

Credit card debt in the state also puts it in the lower half, with an average debt per citizen of $5,613.10.

Maine homes tend to have an average list price of $197,000, considerably higher than many other parts of the country. Foreclosure rates in Maine vary by county, but overall the state sees one home out of every 1700 in foreclosure, and even the highest rates - in Waldo County - are only moderately higher at 1 in every 1028.

On the other hand, college graduates in Maine are more likely to graduate with student debt. Maine ranks 16th in the nation; 64% of students do graduate with debt, and that amount averages $29,934. Debt consolidation is one strategy used by young adults in an effort to manage that student loan debt.

The Attorney General's Office in Maine has warned consumers to be aware of a phone scheme whereby callers push Mainers to pay off debts using prepaid debit cards or wire transfers, as the caller pretends to be a representative from the government or a business with whom the resident has a relationship. The state encourages consumers to hang up if they receive any such phone calls.

 

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Debt Consolidation In The News

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Nearly 35,000 former Corinthian College students in California will see debt relief

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Student loan debt relief company barred from Mass. operations

BOSTON - United Advisors Group LLC, branded as a student-loan debt relief company, has agreed to stop operating in Massachusetts after allegations that it charged unlawful upfront fees and misled cust...

Published:  Tue, 12 Jun 2018 12:15:00 GMT



Best Debt Relief Companies In Baltimore Named By Best Debt Settlement Companies

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