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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.


Our Views: A tax code that hurts Louisiana

When it comes to the disparaging of Louisiana's out-of-date and inefficient tax code, which has been criticized by analysts of both the left and the right, coming in at 14th worst doesn't sound so bad ...

Published:  Thu, 15 Nov 2018 04:20:00 GMT

Sheriff outlines details of proposed December tax, including supplemental pay for all officers

The Lafayette Police Union spoke out against the tax - read their statement below ... the University of Louisiana at Lafayette, and the Lafayette City Marshal as follows: If the proposition ...

Published:  Fri, 16 Nov 2018 13:38:00 GMT

How Does Your State Structure Its Individual Income Tax Brackets

while 10 states have a single-rate (or "flat" ) tax. Among states with a graduated-rate system, six have as few as three brackets: Alabama, Kansas, Louisiana, Maine, Mississippi, and Rhode Island. At t...

Published:  Wed, 14 Nov 2018 14:02:00 GMT

Democrats eye Trump's tax returns but expect a long fight

a former chief counsel and staff director for the Ways and Means Committee who is managing director of tax policy services at consulting firm PwC. "I would visit the IRS and inspect them there." 844 G...

Published:  Fri, 09 Nov 2018 10:18:00 GMT

Will Louisiana treat daily fantasy sports like other gambling

Online fantasy sports betting is coming to 47 of Louisiana's 64 parishes. Now, there's question of whether it will face the same restrictions and high tax rates as casinos, racetracks and video poker ...

Published:  Mon, 12 Nov 2018 22:43:00 GMT

Lafayette Parish sheriff releases new details for sales tax proposal on Dec. 8 ballot

parish-wide sales tax he has proposed on the Dec. 8 ballot. Garber has pledged in a "covenant with voters" to use the money to beef up personnel at every municipal police department in the parish, the ...

Published:  Fri, 16 Nov 2018 17:35:00 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

Property taxes are due by the end of the year

A mill is one-tenth of a cent. If the parishwide millage rate is 75 mills, or 0.075 cents, the property owner would owe $187.50 in parish taxes. In Louisiana, property owners are eligible for one home...

Published:  Tue, 13 Nov 2018 15:53:00 GMT

Texas tailwinds: Wind power produced in Texas is on the rise, as are the tax incentives supporting it

"That's never been my sense of it." Many neighboring states, like Louisiana, give out similar or more extreme tax abatements to incoming industrial projects, Casey said. If Texas wants to compete for ...

Published:  Fri, 16 Nov 2018 06:32:00 GMT

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