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Debt Consolidation in Louisiana

Louisiana MapWith respect to one aspect of personal debt, student loans, Louisiana ranks 47th overall. Less than half of all college graduates have debt upon receiving their diplomas, with the average amount of that debt at $23,358.

Louisiana tends to rank low on the list of bankruptcy filings as well, usually coming in 30th out of 50 states. In an average year, approximately 18,000 residents file for bankruptcy, with a per capita rate of 4.13 (out of every 1000 people statewide). Some individuals choose to pursue debt consolidation rather than filing for bankruptcy.

Mortgages are another component of personal debt, and Louisiana has a median home sale price of $149,000. Louisiana tends to have a foreclosure rate of slightly more than 1 in every 2000 housing units, although St. Charles Parish experiences nearly triple that rate with 1 in every 769 homes currently in foreclosure.

Medical debt can also factor into personal debt, and with nearly 20% of the state population having no medical insurance, it is likely that many people have significant healthcare bills to address.

Louisiana residents land almost in the middle of the rankings when it comes to credit card debt, with some figures indicating an average balance of $6,036.99, making the state the 22nd highest in the country.

However, over 40% of Louisiana credit files have their debt in collection, with amounts owed longer than 180 days, and are likely being contacted by collection agencies. The amount of that debt in collection ranges depending on the area. For instance, the average in New Orleans is $4251 in collection, and Baton Rouge?s is $4561. The statewide average tends to be approximately $4194 in collections. There are a number of debt consolidation agencies within Louisiana that seek to help residents to address these challenges before they become worse.

 

Hollywood sees a jobs boost thanks to California tax incentives, a new report says

Overall, the commission's report found that productions receiving state tax credits hired more than 18,000 cast and ... which has seen numerous TV and movie shoots move to states such as Georgia, Loui...

Published:  Fri, 02 Nov 2018 13:00:00 GMT



Tax Moo-La: Part 2

Brian and Adam are joined once again by Roswell, GA based CPA Robin McIntire to discuss more tax benefits of real estate investing in Part 2 of the Tax Moo-La series. On this episode Robin defines wha...

Published:  Mon, 12 Nov 2018 10:31:00 GMT



La Crosse County's budget sails through to approval; $34.9 million property tax levy, $156.5 million in spending

As La Crosse County Board members headed for home after Monday's lightning-fast budget hearing and board approval of the 2019 budget, board member Roger Plesha reflected on how much things have ...

Published:  Tue, 13 Nov 2018 05:33:00 GMT



Online sales tax debated at commission hearing

As Louisiana prepares to collect taxes from internet sales, it should be careful not to place too much of a burden on businesses or else increase its risk of getting sued, a representative of a nation...

Published:  Thu, 08 Nov 2018 19:06:00 GMT



James Gill: Louisiana's tax system isn't the most unfair in the nation, but it's not for lack of trying

Louisiana's tax system is not quite the most unfair in the nation, but that's just because it is standard practice in America to place a disproportionate burden on the poor. According to a study just ...

Published:  Sat, 03 Nov 2018 21:01:00 GMT



Tax For LA County Stormwater Projects On Verge Of Approval

LOS ANGELES, CA -- A proposed county parcel tax to bankroll projects aimed at capturing, cleaning and conserving stormwater to prevent it from running downstream and polluting rivers and beaches ...

Published:  Wed, 07 Nov 2018 06:40:00 GMT



Louisiana voters to decide felon rights, gas tax spending

BATON ROUGE, La. (AP) - Louisiana voters have six constitutional changes to consider on the Nov. 6 ballot, dealing with felons' rights, property taxes and state gasoline tax spending. Advertising mone...

Published:  Wed, 31 Oct 2018 07:50:00 GMT



La Crosse County voters support tourism tax, now what

LA CROSSE, Wis. (WKBT) - "How do we pay for the growing unmet road needs" It's a question we've heard before, a question that La Crosse County made clear it needs answers to. That's why the Premier R...

Published:  Wed, 07 Nov 2018 16:47:00 GMT



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