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Debt Consolidation in Nevada

When considering consumer debt in the state of Nevada, statistics vary widely across a number of dimensions. For example, Nevada ranks absolutely last when looking at the proportion of college graduates with debt. Only 43% of students receive their diplomas with any remaining student loans. And, for those who do have loans, the average amount of that debt is $21,666, placing them 48th out of 50 states.

However, foreclosure rates in Nevada are some of the worst in the nation, with an average of one in every 495 homes in the state in foreclosure. These rates may correlate with the median sales price of $184,500 for single-family homes. Foreclosure can sometimes be avoided with the help of a debt consolidation agency, to develop a plan before one's debt becomes unmanageable.

Credit card debt in Nevada is the fifth-highest in America, with the average citizen carrying a credit card balance of $9,107.19. However, Nevada is one of four states experiencing the greatest drop in per capita debt, going from $88,500 to $49,350 in a five-year period.

Bankruptcy rates are also high, with over 10,500 Nevadans filing for individual bankruptcy in an average year, representing a rate of 4.28 filings out of every 1000 people. This puts Nevada in 7th place in the country. Debt consolidation is one strategy available to residents seeking to avoid filing for bankruptcy.

Nevada residents should be aware of the laws governing debt collection in the state - especially that for most debts, there is a six-year statute of limitations. This statute of limitations does apply to medical debt in the state of Nevada. State law does allow for wage garnishment for the collection of most kinds of debt. Additionally, debt collection agencies are required to be licensed by the State Commissioner.

 

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Debt Consolidation In The News

One loan vs many: Is debt consolidation the answer

PETALING JAYA: For those who are left with only meagre funds in their bank accounts after paying their personal loans every month, debt consolidation can sound like a very attractive prospect. Debt co...

Published:  Sat, 23 Jun 2018 05:00:00 GMT



IMF: Greek economy improved, but may need more debt relief

ATHENS, Greece (AP) - Greece has significantly improved its economy as it heads toward the end of its bailout program in August, but its debt will remain difficult to manage in the long term, the Inte...

Published:  Fri, 29 Jun 2018 12:41:00 GMT



How Greece's PM celebrated European debt relief package

Greece's Prime Minister has welcomed the decision by eurozone creditors to offer debt relief - and marked the occasion by wearing a tie. Alexis Tsipras often joked that he would start wearing a tie on...

Published:  Fri, 22 Jun 2018 15:48:00 GMT



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

Almost 35,000 former Corinthian College students in California will have the remainder of their private loan balances forgiven and some may receive payment refunds after an investigation by the state ...

Published:  Fri, 15 Jun 2018 03:30:00 GMT



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

Best Debt Settlement Companies recently reviewed and launched the list of top three debt relief companies that can help Baltimore residents get out of their mounting credit card debts. New York, Unite...

Published:  Tue, 05 Jun 2018 01:14:00 GMT



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

Best Debt Settlement Companies recently reviewed and launched the list of top three debt relief companies that can help Baltimore residents get out of their mounting credit card debts. Baltimore, MD - ...

Published:  Tue, 05 Jun 2018 01:14:00 GMT




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