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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

Don't increase debt warns Draghi

(ANSA) - Rome, November 16 - European Central Bank President Mario Draghi said Friday that countries with a high public debt should not increase it further and should respect the EU's budget rules. "L...

Published:  Fri, 16 Nov 2018 02:45:00 GMT



Virginia Attorney General wins $50 million in penalties, debt relief in lawsuit against illegal loans

Attorney General Mark Herring announced Thursday that he won $50 million in debt relief and ordered civil penalties in a lawsuit against Future Income Payments, LLC; FIP, LLC; and their owner ...

Published:  Thu, 15 Nov 2018 13:51:00 GMT



Judge orders $50M in debt relief, penalties, after Herring lawsuit

A Hampton judge has ordered a Nevada firm accused of targeting elderly Virginia veterans with deceptive loans to pay $31.7 million in civil penalties and forgive $20 million in debt. Virginia ...

Published:  Thu, 15 Nov 2018 14:36:00 GMT



Virginia AG orders civil penalties against loan company

RICHMOND, Va. (AP) - Virginia's attorney general has ordered civil penalties and debt relief totaling $50 million against a loan company in light of a lawsuit accusing it of making illegal, high-inter...

Published:  Thu, 15 Nov 2018 23:29:00 GMT



Betsy DeVos Sued Again For Delaying Student Loan Forgiveness

... (HERA), alleges that the Education Department is ignoring a federal judge's ruling last month to begin student loan debt relief for certain borrowers affected by the Borrower Defense Rule. Those i...

Published:  Thu, 15 Nov 2018 04:32:00 GMT



Deal of the Week: MLPs to consolidate, buy Anadarko's midstream assets for $4B

The Woodlands-based Western Gas Equity Partners LP (NYSE: WGP) and Western Gas Partners LP (NYSE: WES) - master limited partnerships formed by Anadarko Petroleum Corp. (NYSE: APC) - will consolidate . ...

Published:  Thu, 15 Nov 2018 20:00:00 GMT



Analyst Corner: Sobha to cash in on industry consolidation; maintain buy

ready land bank of 206 msf, it is well- placed to capitalize on consolidation in industry ... and advertising expenses towards planned launches. As a result, net debt increased to Rs 23.6 bn (vs Rs 22 ...

Published:  Thu, 15 Nov 2018 17:01:22 GMT



FTC and NY Sue Debt Collectors for Deceptive Practices

and New York state law related to debt collection and use of fraudulent or deceptive business practices. In addition to suing the corporate entities, the suit also names the individual who owned and m...

Published:  Thu, 15 Nov 2018 17:36:00 GMT



3rd Circ. Says Fannie, Freddie Investors Not Owed Relief

The panel also held that granting relief to the investors would "unravel" the third amendment of the mortgage loan companies' funding agreement with the Treasury, in which any positive net worth is pa...

Published:  Thu, 15 Nov 2018 15:01:00 GMT



Common Debt Consolidation Terms

We've previously provided concise definitions for various terms related to debt resolution. We also discussed the basic purpose and mechanics of debt consolidation in the earlier post. In this post we ...

Published:  Thu, 18 Oct 2018 08:00:00 GMT




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