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Debt Consolidation in Idaho

Idaho MapAccording to the Urban Institute, 28.3 percent of consumers in Idaho have had their debt turned over for collections. Debt is sent to collections if it is more than 180 days overdue, which can negatively affect a consumerís credit rating for over seven years.

While the percentage may seem high, Idahoans actually have some of the lowest amount of debt in collections in the nation. Consumers who have had their debt turned over to collections still are afforded protections from both the state and federal governments on how that debt may be collected.

Under the Fair Debt Collection Practices Act, debt collectors are required to treat consumers fairly and are prohibited from engaging in certain practices in an attempt to recover money owed to creditors. The Idaho Department of Finance also requires collection agencies to be properly permitted to operate within the state. Agencies that obtain permits must adhere to Idaho statutes and rules in addition to federal law.

Consumers who wish to reduce their debt have options, even if that debt has been turned over for collections. Working with a consumer credit counseling agency can help consumers to negotiate lower monthly payments with creditors, or apply for debt consolidation programs if they qualify. As a last resort, consumers can file for bankruptcy; however, the ramifications of doing so will remain with them for up to seven years, affecting their ability to acquire new credit.


Letter to the Editor: Grocery Tax

Idaho's grocery tax is indeed a problem, as Julia Page pointed out in her commentary in last Wednesday's paper. A nutritious diet, even at the thriftiest level, costs enough for some individuals that ...

Published:  Tue, 20 Nov 2018 15:09:00 GMT

IRS Failed to Track 11,000 Breached Social Security Numbers for Tax Fraud

The tax agency also failed to review another 15,000 breached taxpayer ID numbers it received for possible fraud monitoring, an audit found. The IRS failed to add more than 11,000 compromised Social Se...

Published:  Tue, 20 Nov 2018 11:28:00 GMT

Tax reform's next phase won't happen in 2018: Kudlow

White House Economic Adviser Larry Kudlow told reporters on Tuesday that the next phase of U.S. tax reform will not happen during the final months of 2018, the ''lame duck'' period when Republicans wi...

Published:  Tue, 20 Nov 2018 10:07:00 GMT

How to save 20 percent on your taxes - maybe

was part of the Tax Cuts and Jobs Act signed in December 2017. "Where they actually got to the heart of ... Complete access to news articles on is available to Idaho Business R...

Published:  Thu, 15 Nov 2018 03:13:00 GMT

Lawsuit against Seattle over head-tax meetings moves forward

The council voted 7-2 in June to repeal the tax to pay for homeless services after unanimously ... A man driving a Porsche that plowed into a crowd of spectators at an Idaho car show has been sentence...

Published:  Fri, 16 Nov 2018 16:15:00 GMT

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