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      November 17, 2018

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Debt Consolidation in Indiana

Indiana MapAccording to an article in the Deseret News, Indiana ranked 21st in a list of the twenty-five states with the lowest levels of consumer debt. However, other figures have shown that the average Hoosier household maintains a credit card debt of $9,304.42, putting the state fourth highest in the nation.

Student loan debt is another significant portion of the overall picture in Indiana. Statewide, 62% of graduates wind up owing money on loans. On average, this debt works out to be more than $28,000 per student.

In the past five years, some portions of Indiana have seen a decline in overall business bankruptcy filings; while on the other hand, the number of individuals filing for bankruptcy protection, such as through debt consolidation, was still noteworthy at 4.38 per 1,000 residents. Indiana has been higher than the national average for the past five years, sometimes by more than two percentage points.

Indiana residents benefit from the federal Fair Debt Collections Practices Act, which seeks to protect consumers from dishonest or unfair actions on the part of collection agencies.

State law allows debt collectors to file claims by mail, and also to pursue many assets that are not allowed in other states: cars, real estate, and pension payments, to name a few. Collection agencies are also able to choose the court in which their cases will be heard, and they often select the venue where they feel most likely to recover the largest possible amount of money. Because Indiana's laws tend to favor debt collectors, consumer debt in the state sells at a higher rate than in others, averaging seven cents on the dollar.

The Indiana Department of Financial Institutions recommends that consumers choose wisely when considering debt consolidation as an approach to managing their financial issues, as there are a wide range of providers and services available.


Coalition seeking $2 per pack cigarette tax hike to reduce Indiana smoking rates

INDIANAPOLIS - A statewide coalition of 139 health, business, youth and community groups is asking the General Assembly to hike Indiana's cigarette tax by $2 per pack. Raise It For Health contends tha...

Published:  Thu, 15 Nov 2018 12:00:00 GMT

Health Coalition Plans Another Push To Raise Indiana Cigarette Tax

A coalition determined to get Indiana's cigarette tax increased by $2 a pack will make another push in 2019. The Raise It For Health Coalition is made up of dozens of organizations, including ...

Published:  Thu, 15 Nov 2018 10:45:00 GMT

Chamber, health groups seek increase in cigarette tax

On Thursday, Siddiq joined in the latest wave urging the Indiana General Assembly to increase cigarette taxes by $2 a pack and raise the legal age to purchase tobacco from 18 to 21. The effort to redu...

Published:  Thu, 15 Nov 2018 10:30:00 GMT

Preliminary budget calls for tax increase

Indiana Borough tentatively will have a 0.4-mill real estate tax increase in 2019. On Tuesday borough council voted 9-1 to authorize Manager C. Michael Foote to advertise that a proposed $6,561,760 sp...

Published:  Wed, 07 Nov 2018 05:57:00 GMT

Health coalition again urges state to increase cigarette tax

That is why the Raise It for Health Coalition rallied at the Statehouse and 14 other events across the state Thursday to launch a campaign to improve Indiana's workforce and Hoosiers' health by increa...

Published:  Thu, 15 Nov 2018 21:00:00 GMT

Indiana anti-fraud efforts curb improper payments involving taxes

INDIANAPOLIS (AP) - The Indiana Department of Revenue says identity theft prevention and refund fraud detection programs helped halt more than $9.7 million in improper payments during the 2018 budget ...

Published:  Mon, 05 Nov 2018 09:55:00 GMT

Indiana Tax Revenues Slip In October

Indiana's tax collections came in below target last month, dipping after a strong September. Yet the state is still on track for the overall fiscal year. Indiana tax revenues came in $51 million ...

Published:  Fri, 09 Nov 2018 12:54:00 GMT

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