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Debt Consolidation in Iowa

Iowa MapIn the state of Iowa, 4.1% of residents have past due debt; 26.3% of that debt is currently in collections with an average balance of $4,810. In contrast, the overall cost of debt in Iowa is the lowest of all 50 states, with an average cost of $129,394 over a consumerís lifetime. This is largely due to the fact that Iowans also tend to have the lowest overall new mortgage amount ($120, 467), mortgage interest rates that usually fall below the national average, and they maintain an average credit score of 689 statewide.

Iowa is in fourteenth place with respect to states with the highest credit card debt, with the average resident maintaining a credit card balance of $7048.77. On the other hand, Iowa ranks ninth highest overall when it comes to college students graduating with debt, with 69% of students carrying an average of $29,370 in remaining student loans on the day they receive their diplomas.

Bankruptcy filings in Iowa tend to be on the lower end of the nationwide scale, with approximately 2.17 individuals per 1,000 filing for bankruptcy in an average year.

Residents of Iowa who are considering bankruptcy should know that there are a number of assets that are exempted from collection such as equity in the home and public assistance benefits, and that debt consolidation might be a better option.

In Iowa, debt collectors are only required to be licensed if they bring in more than $25,000. Iowa Attorney General Tom Miller is further pushing for regulations on bank practices with respect to the processes by which faulty claims were issued against state residents.

The Secretary of Stateís office maintains a list of registered debt consolidation agencies in Iowa, and state law allows consumers to cancel a signed contract within the first three days, without penalty.

 

Iowa small business owners: Tax cuts being reinvested in business

DES MOINES - A half-dozen Iowa small business owners told a top U.S. official in Iowa on Friday that federal tax cuts are boosting workers' wages and businesses' investment and confidence. The anecdot...

Published:  Fri, 13 Jul 2018 13:11:00 GMT



Burlington casino pays $20,000 state penalty after tax reporting error

The Iowa Racing and Gaming Commission approved a fine of $20,000 today for the Catfish Bend Casino in Burlington for an error in gambling tax reporting. Racing and Gaming administrator Brian Ohorilko ...

Published:  Thu, 12 Jul 2018 14:50:00 GMT



State model shows Iowa budget growth with tax cuts

DES MOINES - Budget models made by Gov. Kim Reynolds' administration indicate the governor and lawmakers will have an estimated $230 to $250 million annually for new spending, even as new state income ...

Published:  Sun, 08 Jul 2018 07:19:00 GMT



San Francisco to consider tax on companies to help homeless

The money would come from an average half-percent tax increase on companies' revenue above $50 million ... in an ATV accident in the 6900 block of Highway 52 South on Monday. An Iowa charity is seekin...

Published:  Mon, 16 Jul 2018 18:38:00 GMT



Watch live: Vice President Mike Pence speaks in Iowa

Vice President Mike Pence returns to Iowa on Wednesday to talk about taxes and drum up support for Republican Congressman Rod Blum. Pence is scheduled to speak at 4:05 p.m. at Rockwell Collins in Ceda...

Published:  Wed, 11 Jul 2018 13:56:00 GMT



Guest view: Iowa needed a tax overhaul

There has been quite a bit of discussion regarding the tax reforms passed by the Iowa Legislature this past session and signed into law by Gov. Kim Reynolds. Senate File 2417 is a historic bill that w...

Published:  Wed, 11 Jul 2018 23:36:00 GMT



Vice President Mike Pence talks trade debates and tax reform during Iowa stop

Vice President Mike Pence was in Cedar Rapids on Wednesday, where he spoke at one of the city's largest employers, Rockwell Collins. Before Pence took the stage, he took a quick tour of part of the fa...

Published:  Wed, 11 Jul 2018 19:23:00 GMT



Federal tax changes boost Iowa revenue growth

CEDAR RAPIDS - Thanks in part to changes in the federal tax code, Iowa revenue collections increased 4.5 percent, or nearly $290 million, in the fiscal year ended June 30. The nonpartisan Legislative ...

Published:  Mon, 02 Jul 2018 21:59:00 GMT



Hubbell: Help higher ed by curbing Iowa tax breaks

Democratic gubernatorial candidate Fred Hubbell is proposing to rein in tax incentives for businesses and "claw back" a 6-year-old property tax cut to help pay for education - specifically at Iowa's p...

Published:  Fri, 22 Jun 2018 20:03:00 GMT



Online sales tax has differing effects on Iowa businesses

WEBVTT online-retail. Mike Draper - owns the Des Moines-based sensation 'Raygun'

Published:  Thu, 21 Jun 2018 19:34:00 GMT



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