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Debt Consolidation in Montana

In almost every area of consumer debt, Montana residents fare quite well. For instance, while Montanans rank 7th in terms of states with the highest credit card debt, with an average of $7,180.53 per person, they rank 6th overall in states with the lowest levels of personal debt. Only 4.1% of individuals with credit carry a balance that is past due; of that amount, 26.2% have debt in collections with an average dollar amount of $6,543.

Big Sky Country residents also rank low when looking at bankruptcy rates. In an average year, only 1,514 individuals file for bankruptcy, representing a rate of 1.6 filings for every 1000 people in the state. With some other states having bankruptcy filings of over 20,000 per year, this places Montana in 46th place overall. Debt consolidation is one strategy that Montanans are using to manage their financial challenges in ways that avoid the need to file for bankruptcy.

Montana experiences a very low rate of home foreclosures in comparison with the rest of the United States, with an average of 1 home in every 8000 in a state of foreclosure. Even in the counties with the highest foreclosure rates in the state, Mineral and Pondera, this rate still stays above one in every thousand homes. Considering that Montana has a higher median list price for single-family homes - $239,000 - than many other states, its low foreclosure rate is surprising.

On the other hand, college graduates in Montana do fare slightly less well than students in a number of other states. Montana is 13th overall with respect to the proportion of students graduating with debt - 66% - and 20th when considering the average debt amount of $27,658 held by those students.

State residents considering debt consolidation can feel confident knowing that all companies offering debt management plans in Montana are licensed by the Montana Department of Justice.

 

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Debt Consolidation In The News

Student debt relief is union work

AFT leaders in Massachusetts know that supporting our members goes beyond what happens in the classroom, or the schoolhouse, or even the Statehouse. That's why, when the AFT started offering student d...

Published:  Fri, 15 Feb 2019 13:38:00 GMT



Fight Substance Abuse, Get Your Student Loans Paid

It's always exciting to be able to announce a new programs that can provide relief to student loan borrowers. The National Health Services Corp (NHSC), a federal agency, has established a new student ...

Published:  Sat, 16 Feb 2019 07:01:00 GMT



As student loan bills balloon, Madison-area companies offer debt relief as a perk

Forget the free snacks. Move over, gym memberships. A Madison company this month launched a new employee benefit - paying off a portion of an employee's student loan debt - in a move that ...

Published:  Mon, 11 Feb 2019 15:14:00 GMT



Tips To Strengthen Finances Before Another Recession Shared By National Debt Relief

The last Recession in 2008 affected a lot of people that is why National Debt Relief shares this article to help people prepare for another recession. The article titled "How To Strengthen Your Financ...

Published:  Thu, 14 Feb 2019 08:40:00 GMT



Karnataka Debt Relief Bill a boon to farmers

BENGALURU: The Legislative Assembly passed the Karnataka Debt Relief Bill-2018 on Wednesday, to ease the burden on the wallets of small farmers, landless agricultural labourers and the economically we...

Published:  Wed, 13 Feb 2019 16:00:00 GMT



Bill seeks to incentivize MT child protective specialists with student loan relief

HELENA - Charles Asmus, a child protective specialist in Montana, told the House State Administration Committee Wednesday that he'll owe about $190,000 after he gets his doctorate. But, he ...

Published:  Thu, 14 Feb 2019 13:08:00 GMT



Cleveland Heights council looks at Community Improvement Corp., college loan relief

CLEVELAND HEIGHTS, Ohio -- With formation of a new municipal Community Improvement Corporation in the works, Vice Mayor Melissa Yasinow is already looking into a student loan assistance grant program ...

Published:  Mon, 11 Feb 2019 22:16:00 GMT



Relief! Employer-Sponsored Student Loan Benefit Bill Introduced

Americans have too many immediate expenses to pay to even consider long-term saving, the theory goes, one of which the outrageous saddles of student debt. To offer relief, and encourage retirement pla...

Published:  Fri, 15 Feb 2019 10:50:00 GMT



The world is swimming in a record amount of debt, and there's no relief in sight

Last year, the world's debt rose to $244 trillion, or 318% of global GDP, according to the Institute of International Finance. The world is now "pushing at the boundaries of comfortably sustainable de...

Published:  Wed, 13 Feb 2019 16:57:00 GMT




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