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Debt Consolidation in North Carolina

North Carolina residents have one of the lowest levels of consumer debt in the nation. While the average credit card balance for the state is $5,944.91, putting the state in 23rd place, it is ranked fourth overall when considering lowest levels of personal debt: only 4% of credit holders have balances that are past due. While 40.3% of those credit holders do have debt in collections, the average amount of that debt is only $4,280.

North Carolina college graduates also rank relatively well when analyzing student loan debt. 61% of university students will graduate with debt, ranking the state in 24th place, but the average amount of that debt is only $24,319, putting North Carolina in 39th place. Students may pursue debt consolidation as a means of managing student loan debt, along with any other personal debt they incurred during their college years.

In general, North Carolina sees average rates of home foreclosure, with one in every 1044 homes facing foreclosure. However, in Onslow and Jones Counties, homeowners experience foreclosure rates of more than one in every 500 homes, more than double the average for the rest of the state.

However, North Carolina does rank lower than most states with respect to bankruptcy. In typical year, just over 26,000 individuals file for bankruptcy. This represents a rate of 2.80 people filing for bankruptcy out of every 1000 people in the state, giving North Carolina 43rd place overall. Debt consolidation helps residents to avoid the need to file for bankruptcy and address financial challenges before they escalate into larger problems.

North Carolina residents should be aware that state law does allow for state agencies to use an individual?s lottery winnings or tax refunds to collect on unpaid medical debt.

 

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Debt Consolidation In The News

Euro zone to unlock new loans to Greece, working on debt relief

BRUSSELS (Reuters) - Euro zone creditors are expected to disburse new loans to Greece this month and are working on debt relief measures, the head of the bloc's finance ministers said on Monday, steps that should help underpin its economic recovery.

Published:  Mon, 12 Mar 2018 13:40:00 GMT



Former For-Profit College Students Demand Full Debt Relief

The code has been copied to your clipboard. The URL has been copied to your clipboard A group of past students at the former Corinthian Colleges are taking legal action against the United States Department of Education. In early March, the former students ...

Published:  Sun, 25 Mar 2018 03:02:00 GMT



Debt Consolidation Credit Card Debt Relief An Option For Many Today

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Published:  Mon, 05 Mar 2018 00:07:00 GMT



Pain Relief for College Students Overburdened by Loan Debt

Legislators turn their attention to problems facing student borrowers, backing bills that would keep them from being overwhelmed by loan repayments New Jersey lawmakers, who were disturbed in the last legislative session by the practices of the agency that ...

Published:  Thu, 12 Apr 2018 05:00:00 GMT



Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative

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Published:  Wed, 07 Mar 2018 16:00:00 GMT



Student Loan Debt Relief Operations Allegedly Bilked $95M From Borrowers

The federal government and 11 states have joined together to accuse 30 purported debt relief operations of using deception and false promises to swindle more than $95 million from student loan borrowers. "Operation Game of Loans" - the eyeroll-worthy ...

Published:  Fri, 13 Oct 2017 10:44:00 GMT



How to Consolidate Credit Card Debt

GCredit card consolidation refers to merging all your existing debt into one loan, which is different than restructuring your debt, which refers to renegotiating the terms or amounts of your debt. Using credit card debt consolidation as a debt management ...

Published:  Sat, 30 Dec 2017 20:00:00 GMT




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