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Debt Consolidation in Kentucky

Kentucky MapIn one of the top indicators of consumer debt, Kentucky ranks first out of the fifty states: credit card debt. It is the only state to cross the five-figure mark, with the average resident carrying credit card debt in the neighborhood of $10,079.53. For this reason, many Kentuckians turn to debt consolidation to help them manage their finances.

On the other hand, Kentucky college graduates rank 34th in the nation when it comes to students leaving college with student loans. Only 59% of graduates have some kind of student debt, with an average dollar amount of $24,693.

With respect to mortgages, the median list price for single-family homes in Kentucky tends to be around $138,000 with a median sale price typically at $117,000. While foreclosure rates vary statewide, the overall foreclosure rate in Kentucky is 1 in every 3271 housing units. In some counties, those rates are even higher. For instance, a typical foreclosure rate in Boyle County is 1 in every 684 homes, nearly five times the average for the rest of the state.

In Kentucky, personal bankruptcy filings seem to be on the decline, dropping 7.4% in an average year. This is after some years seeing more than 24,000 individuals filing for bankruptcy in the state, at a rate of 5.6 filings per 1000 residents. Consumers often consider debt consolidation as an alternative to filing for bankruptcy, and that could be a factor in the changes in the statistics in recent years.

The Kentucky Consumer Protection Act mirrors the benefits offered by the federal act of a similar name, by offering residents certain safeguards when facing debt collection. Kentuckians are encouraged to contact the state?s Office of the Attorney General if they need guidance regarding their individual issues.

 

John Calipari bucks UCLA coaching rumors: 'My plan and my desire is to retire at Kentucky'

of Kentucky. In my opinion, there is no better job in the world ... The likelihood he'd move west to pay gaudy state taxes and potentially make less money in a significantly worse situation ultimately ...

Published:  Wed, 20 Mar 2019 20:08:00 GMT



GUEST COMMENT: Ky. tax reform impacts gambling-loss deductions

As the 2018 tax filing season heats up, Kentucky taxpayers with significant 2018 gambling winnings may be surprised when they see what they owe in state income taxes. Last year, the General Assembly ...

Published:  Mon, 11 Mar 2019 08:01:00 GMT



How will private school tax credit affect Kentucky schools Florida's program is spiraling

If some Kentucky legislators have their way, more than $25 million of what otherwise would be taxes paid to the state could be redirected to private schools. Load Error But that money could be just ...

Published:  Mon, 11 Mar 2019 12:30:54 GMT



Gas tax bill runs out of fuel in Kentucky legislature

FRANKFORT, Ky. (WDRB) - For the second straight year, a bill to raise Kentucky's gas tax has died in the state legislature. House Bill 517 stalled in a House committee and wasn't added to conference ...

Published:  Fri, 15 Mar 2019 07:50:00 GMT



KY Lawmaker: There's no will to slip private school scholarship tax credits into revenue bill

FRANKFORT, KY (WAVE) - Kentucky teachers concerned that private school scholarship tax credits will be slipped into another bill, may not need to be concerned about House Bill 354. That's the tax ...

Published:  Tue, 12 Mar 2019 18:30:00 GMT



Kentucky lawmakers approve bill giving banks, others $105 million tax cut

Lawmakers in Kentucky voted Wednesday to approve a tax bill that would cut taxes by $105 million, mostly for banks in the state. The Kentucky House and Senate approved the tax changes the same ...

Published:  Thu, 14 Mar 2019 09:59:00 GMT



Dupree Kentucky Tax-Free Short-to-Medium Series

The Fund seeks the highest level of tax-exempt income available without undue risk to principal by investing in state specific municipal securities. This is a non-diversified fund with a dollar ...

Published:  Mon, 18 Mar 2019 20:10:00 GMT



Kentucky education commissioner still wants protester names

LOUISVILLE, Ky. (AP) - Kentucky's largest school district has asked the ... who manages the teachers' pension fund and indirectly support private schools with tax credits. At least 10 school districts ...

Published:  Wed, 20 Mar 2019 07:33:00 GMT



Black lung fund for miners running dry after GOP cuts coal company tax

Republican Senate Majority Leader Mitch McConnell, whose home state of Kentucky is third in the nation in coal production, told a reporter from Ohio Valley ReSource in October the tax rate would "be ...

Published:  Wed, 20 Mar 2019 07:34:00 GMT



Franklin Kentucky Tax-Free Income Fund

Franklin Kentucky Tax-Free Income Fund seeks a high level of income exempt from federal and personal income taxes by investing in Kentucky municipal securities which are rated in the top four ratings ...

Published:  Mon, 18 Mar 2019 11:39:00 GMT



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