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With its diverse landscape featuring beaches, waterfalls, lakes, mountains and forests, Oregon is a truly beautiful place for long-term residents and holidaymakers alike. Tourism however is only a small part of the states economy, which also consists of agriculture, technology, forestry and fisheries. By GDP (gross domestic product) Oregon is ranked the 26th wealthiest state in the nation. It was also recently ranked as the Americas 'Top Moving Destination', as studies revealed that twice as many families or households were opting to move into Oregon compared to those who were moving out. The population continues to increase and with it the standard of life improves while the economy grows.
Although the average personal income is over $44,000, Oregon boasts a fairly high unemployment rate of 6.7%. Despite having an economy based upon a wide range of areas, the state wasn't immune to the affects of the recent financial crisis. In fact many individuals, not to mention local businesses, struggled to stay afloat. The dot-com bust also had large affect on the regions previously flourishing technology sector with many businesses forced into bankruptcy and nearly all having to make employee cut backs. It goes without saying that paying off existing debt is made significantly harder when income is decreased or lost completely. Debt consolidation allowed some people to reduce their monthly payments and get back on top of their debts and expenditures.
Oregon, just like the rest of the United States, has high amounts of personal debt. Households owe money in a number of different areas including credit cards and student loans. In fact the average amount of student debt owed by individuals in Oregon is a massive $24,000 with some graduates owing as much as $50,000 and even $100,000. These figures were featured in the Federal Reserve Bank of New York's Household Debt and Credit Report, which also revealed that of all of the credit history bearing residents of Oregon, 17.1% had some form of student loan contributing to their overall personal debt.
As if that wasn't enough stress to take on, most Oregon households are not dealing purely or even primarily with student debt but also have the mortgage, credit card bills and auto loans to pay in full and on time each and every month in order to prevent their credit history from being negatively affected. Through debt consolidation, however it is possible to combine all debts into one easily manageable solution. Through reducing payments in this way and with the improving economy, it is likely that Oregon residents will successfully fight their way out of their personal debt.
Debt Consolidation In The News
said in a CNN town hall that she doesn't support free college.) Borrowers can also likely expect some dramatic proposals for student debt relief, Huelsman said. In the past, presidential candidates ha...
Published: Wed, 20 Feb 2019 09:53:00 GMT
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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
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Published: Tue, 19 Feb 2019 05:41:00 GMT
Mumtalakat's paper was priced only marginally below the Bahraini sovereign debt curve, but the newly issued sukuk ... support package will be tied to progress on Bahrain's fiscal consolidation plans.
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"Otherwise, it becomes this big secret." Plus, disclosing debt to a partner typically comes with a sense of relief. McLay says partners tend to be supportive of the information, and often even feel ha...
Published: Thu, 21 Feb 2019 05:12:00 GMT
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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Published: Thu, 21 Feb 2019 03:47:00 GMT
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