TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.

 

Go To Reviews >

Debt Consolidation in Rhode Island

Rhode Island's personal debt picture is very similar to that of the rest of the nation as a whole, and to put it simply, the state owes more that it owns. In fact recent figures have shown that more families are moving out of the area than are moving into it, as issues over the last few years concerning high tax burdens and public-employee pensions have weighed heavy on the finances of many. Economics experts predict that while the situation in Rhode Island isn't as quite as extreme as some other states, it's going to be a difficult road ahead for many of the local residents, largely due to the limited growth of the economy. Families facing personal financing problems may find some relief through debt consolidation, which allows all debt to be merged into one and typically results in lower monthly payments.

Rhode Island, known as the Ocean State, has an important role in American history as the first of the original thirteen colonies to declare independence from the British. Before the Great Depression, the state was a national leader in the textiles industry, as well as fishing with a number of additional important industries contributing to the early economy including tool making and silverware. Rhode Island's industrial past is still clearly evidenced today with the presence of many abandoned factories now being used for different purposes such as residencies and museums. Today the economy is supported by a combination of different industries with the services sector contributing the most, followed by tourism and then manufacturing. Tourism in the area is on the up, thanks to the states numerous tourist destinations including beautiful coastlines and historical landmarks.

On average, each resident owes $17,960 in Rhode Island. This is typically a combination of a mortgage, credit card debt and an auto loan, which can in some cases be combined into one easier to handle monthly payment through debt consolidation. Young adults are often also dealing with student loans on top of other household expenditures.

 

Go To Reviews >


Debt Consolidation In The News

Closed-End Funds Seeing Consolidation

"We welcome inquiries from other closed-end funds whose shareholders may be attracted to an emerging markets equity income strategy about joining the consolidation," according ... Municipal debt CEFs ...

Published:  Fri, 16 Nov 2018 23:00:00 GMT



Watching Your Wallet: Company offering to help lower student debt under investigation

When she got a phone call from a company called Student Advocates, telling her she may qualify for student loan debt relief, she jumped at the chance. "They told me they wanted to see if I qualify for ...

Published:  Fri, 16 Nov 2018 12:52:00 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



Trump Loses To Obama With Student Debt Relief Ruling On For-Profit Colleges

The for-profit college industry will further challenge an Obama-era rule granting student debt relief despite the mandate going into effect this week. Trump's Department of Education, criticized for s...

Published:  Fri, 19 Oct 2018 04:32:00 GMT



A Plan for Debt Relief

As difficult as it may be to believe, there was a time when Republicans were known as the anti-debt and balanced budget party. Now, the GOP prefers to tout low unemployment as the debt soars and they ...

Published:  Mon, 22 Oct 2018 21:06:00 GMT



Make Debt 'Relief' Your Last Resort

Should you trust a debt relief company That's what we're looking at this week. Each Monday we're tackling one of your pressing personal finance questions by asking a handful of money experts for thei...

Published:  Mon, 08 Oct 2018 12:01:00 GMT




- View Full Site -