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      May 22, 2018

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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.


Tyson snags $674,000 in state tax credits for $44 million upgrade to Perry plant

The Iowa Economic Development Authority board Friday approved providing Tyson with $674,326 in state tax credits, based on capital investment, and sales tax refund. The board also approved incentives for: Atlantic Bottling's proposal to move its Rock ...

Published:  Mon, 21 May 2018 11:29:00 GMT

Leader on Tax Cuts Bill to Chair Iowa House Tax Committee

DES MOINES, Iowa (AP) - Iowa House Republicans have announced a new chairman for a key tax-writing committee. House Speaker Linda Upmeyer on Tuesday named Rep. Peter Cownie, a West Des Moines Republican, chairman of the House Ways and Means Committee.

Published:  Tue, 15 May 2018 13:04:00 GMT

Extremes see most benefit from Iowa tax reform

DES MOINES, Iowa (KCRG-TV9) - The extremes will see the most benefit under a tax reform package now awaiting Governor Reynolds signature. The package - a priority for Republicans - was the last hurdle for the Iowa legislature to wrap up its 2018 session.

Published:  Mon, 14 May 2018 15:32:00 GMT

Eastern Iowa county investing in body cameras for officers

Iowa Republicans say it was essential to pass $2.8 billion in tax cuts in part due to federal tax changes, but those state reductions might not be implemented for years under a plan awaiting the governor's signature. Iowa Republicans say it was essential ...

Published:  Sun, 20 May 2018 12:53:00 GMT

Tax cuts for typical Iowa family could yield $7 a paycheck

DES MOINES (AP) - Iowa is on the verge of implementing sweeping income tax cuts that will have long-lasting effects felt in every corner of the state. Legislation was sent to Republican Gov. Kim Reynolds, who is campaigning for election on tax cuts and ...

Published:  Mon, 14 May 2018 04:44:00 GMT

Tax Breaks for Religious Schools Await Governor's Signature

Listen Listening... 4:09 Since 1998, Iowans have been able to save money on their state and federal taxes by contributing to College Savings Iowa, administered through the office of State Treasurer Mike Fitzgerald. "It's been wildly popular ...

Published:  Wed, 16 May 2018 18:24:00 GMT

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