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      September 19, 2018

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Debt Consolidation in Colorado

Colorado MapThe 2008 great recession wreaked financial havoc on a number of Americans. Although the federal government has declared the economy to be out of the woods and slowly rebounding, many consumers still are suffering with the debt they incurred due to lost jobs and stagnant salaries.

The average debt in Colorado is $74,340, with 31.2 percent of that currently in collections, according to statistics provided by the Urban Institute. Consumers who are struggling with debt have options in Colorado. They can seek credit counseling, apply for debt consolidation programs or, as a last resort, file for either Chapter 7 or Chapter 13 bankruptcy. While consumers decide which option is best for them, they have protections afforded to them from debt collection agencies.

Within the Fair Debt Collection Practices Act, collectors are required to treat consumers fairly and are prohibited from harassing consumers by requiring them to call only during set hours of the day, and never are they permitted to contact a consumer at their place of employment. Consumers also have the right to put a request in writing for the collection agency to stop calling them about the debt, which the agency must honor.

Consumer credit counseling agencies are able to assist consumers with debt consolidation by negotiating on their behalf with creditors. Working with a credit counseling agency can help consumers to get out of debt in as little as two to four years. They also may be able to negotiate with creditors to lower the total amount owed.


Colorado could raise property tax rates for short-term rentals like Airbnb

As elected officials across Colorado struggle to avoid steep budget cuts to rural fire stations, libraries and other public services, one group is looking to short-term rentals such as Airbnbs for a p...

Published:  Mon, 17 Sep 2018 11:00:00 GMT

Colorado Springs sales tax revenue growth accelerates for third consecutive month

Colorado Springs consumers accelerated their spending for a third consecutive month in July, boosting revenue from the city's sales tax to the biggest percentage gain in 14 months. Sales tax ...

Published:  Fri, 14 Sep 2018 16:00:00 GMT

Final Chance For Comment On November's Tax Measures

BOULDER, CO - Residents across the county have one more chance to submit comments on the Oil and Gas Pollution Tax that will appear on ballots this November. Those living within the City of ...

Published:  Tue, 18 Sep 2018 06:58:00 GMT

School District 11 in Colorado Springs begins spending revenue from tax increase last fall

COLORADO SPRINGS, Colo. - Almost a year has passed since 57 percent of voters in Colorado Springs School District 11 passed a mill levy override to generate additional revenue for much-needed school i...

Published:  Tue, 18 Sep 2018 00:10:00 GMT

Online retailers who sell to Coloradans will soon be required to collect sales taxes

Colorado Department of Revenue officials will begin collecting sales taxes on Dec. 1 from out-of-state online retailers who sell goods to Coloradans - an administrative decision that answers the pleas ...

Published:  Thu, 13 Sep 2018 04:55:00 GMT

Counting all the ways Trump's tax cuts have helped Coloradans

Mike Coffman, a Republican from Congressional District 6, said it would "help working families" and "increase jobs and wages by reducing the tax burden on American small businesses." Now that nearly a ...

Published:  Mon, 17 Sep 2018 11:01:00 GMT

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