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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

Looking for Financial Relief Know Your Rights Before Choosing a Company to Help

If you've got mounting credit card bills, you may also have countless credit repair or debt relief offers taking over your mailbox. Those promises of reduced debt, low-interest loans and magical ...

Published:  Sun, 17 Feb 2019 03:54:00 GMT



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



The latest tool to combat the opioid epidemic - student-loan relief

As the opioid epidemic rages on, officials are turning to a new tool to help curb it - student-loan relief. The National Health Service Corps, a government program that supports health-care providers ...

Published:  Fri, 08 Feb 2019 23:11:00 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




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