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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.


Here are some of the major Colorado road projects a sales-tax hike could fund (if it makes the ballot)

Interstate 25 would get an extra lane roughly between Longmont and Fort Collins, Interstate 70 would get additional lanes at some of the most congested areas heading into the mountains, and arteries f...

Published:  Fri, 20 Jul 2018 11:45:00 GMT

Bid to simplify Colorado's income tax laws won't be on November ballot

Coloradans won't be voting on a proposal to simplify the state's income taxes in 2018. The people behind Initiative 83 told the Secretary of State's Office Thursday they don't plan to submit the neces...

Published:  Thu, 19 Jul 2018 10:23:00 GMT

Colorado Springs sales taxes in June post biggest increase in 12 months

Colorado Springs consumers spent in May at the fastest rate in a year, fueled by the category that includes online retail giant Amazon, the latest sales tax report from the city's Finance Department s...

Published:  Wed, 18 Jul 2018 15:39:00 GMT

A $1.6 billion tax increase for Colorado education just got a lot closer to the ballot

Supporters of more funding for Colorado schools turned in more than 170,000 signatures Wednesday to place a $1.6 billion tax measure on the November ballot. If approved, the measure would increase the ...

Published:  Mon, 16 Jul 2018 14:59:00 GMT

Should Boulder return higher-than-expected sugary beverage tax revenue to residents

The Colorado Restaurant Association hasn't issued any official statements regarding Boulder's sugar-sweetened beverage tax, but member restaurateurs in Boulder have said that it is costing them, not o...

Published:  Tue, 17 Jul 2018 10:34:00 GMT

Lodging tax committee forms

One day after Grand Junction City Council agreed to ask voters for an increase in the city's lodging tax in November, a committee has formed to support the increase and educate voters. The Tax You Don ...

Published:  Fri, 20 Jul 2018 02:39:00 GMT

Forrest Co. accountant indicted on federal tax charges

A Pine Belt accountant has been charged in a federal indictment. Carl Nicholson made his initial appearance on July 19 at the William J. Colmer Federal Building. Court documents show that Nicholson is ...

Published:  Fri, 20 Jul 2018 11:08:00 GMT

Help us! cry residents of Citylights, a middle-income co-op in Queens facing a huge tax increase after an abatement deal ended

Residents in fear of losing their homes in Queens' largest affordable co-op are urging Mayor de Blasio and New York officials to help after the building was slammed with a massive tax bill. A 20-year ...

Published:  Sat, 14 Jul 2018 01:00:00 GMT

City's tax revenue report shows a surprising drop in medical marijuana

The City of Colorado Springs has released their sales and tax revenue report for the month of May. The revenue was turned into the City last month and generally shows that the City has seen a steady i...

Published:  Wed, 18 Jul 2018 09:06:00 GMT

KRDO Investigates: Loophole may let Colorado contractors skirt taxes

COLORADO SPRINGS AND DENVER, Colo. - A five-month investigation by KRDO NewsChannel 13 into a loophole to skirt some taxes and questionable hiring practices at construction sites is getting results, a...

Published:  Mon, 16 Jul 2018 17:08:00 GMT

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