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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.


Nine key issues for the new Iowa Legislature: From tax cuts to abortion to gun rights

Nine key issues for the new Iowa Legislature: From tax cuts to abortion to gun rights Close races for Gov. Kim Reynolds and legislative majorities give Republicans complete Iowa Capitol power, which t...

Published:  Fri, 09 Nov 2018 13:31:00 GMT

Whitaker may have violated group's tax-exempt status

The tax-exempt group - known by its initials ... Whitaker, a former U.S. attorney in Iowa, left FACT in October 2017 to become Attorney General Jeff Sessions' chief of staff.

Published:  Fri, 09 Nov 2018 20:28:00 GMT

Big Soda And The Ballot: Soda Industry Takes Cues From Tobacco To Combat Taxes

But the sweetened-beverage industry is not about to go away quietly. Ahead of the U.S. midterm elections, the soda industry poured millions of dollars into fighting taxes on sugary drinks. In recent y...

Published:  Mon, 05 Nov 2018 21:19:00 GMT

Choose Tax Cuts Over Theatrics in Iowa

Most actors live in Hollywood, but Abby Finkenauer made her acting debut when she announced her run for Iowa's 1st Congressional District. If you've listened to Finkenauer's speeches or ...

Published:  Mon, 05 Nov 2018 06:47:00 GMT

Trump names Matthew Whitaker, a former U.S. attorney from Iowa, as acting attorney general

The acting Attorney General is a GOP insider and former U.S. Attorney from Iowa who made two failed bids for public office and has openly criticized special counsel Robert Mueller. Matthew Whitaker, w...

Published:  Wed, 07 Nov 2018 02:45:00 GMT

Iowa tax receipts expected to grow, then slow

DES MOINES - Changes in federal and state tax policies as well as overall economic strength prompted state officials Tuesday to bump up their growth projections for Iowa tax collections to 4.9 percent ...

Published:  Tue, 16 Oct 2018 17:54:00 GMT

Hubbell got tax credits on homes in Iowa, Arizona at same time, records show

DES MOINES - Tax records in Arizona show that Democratic gubernatorial candidate Fred Hubbell received a homeowner tax credit there at the same time he claimed a homestead tax exemption in Iowa. The A...

Published:  Sat, 15 Sep 2018 03:45:00 GMT

Iowa Arena in Coralville gets $4.8 million in tax credit funding

The Coralville City Council has put the finishing touches on a tax credit that will net almost $5 million in funding to be used in the construction of the Iowa Arena. The council decided on a unanimou...

Published:  Thu, 04 Oct 2018 22:10:00 GMT

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