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Debt Consolidation in Maine

Maine MapMaine falls within the bottom third of all states in the nation when it comes to bankruptcy filings, with an approximate 4100 residents filing for bankruptcy in an average year, or 3.11 filings for every 1000 residents. There are a number of debt consolidation agencies working to bring those filings even lower by giving individuals alternatives to filing for bankruptcy.

Credit card debt in the state also puts it in the lower half, with an average debt per citizen of $5,613.10.

Maine homes tend to have an average list price of $197,000, considerably higher than many other parts of the country. Foreclosure rates in Maine vary by county, but overall the state sees one home out of every 1700 in foreclosure, and even the highest rates - in Waldo County - are only moderately higher at 1 in every 1028.

On the other hand, college graduates in Maine are more likely to graduate with student debt. Maine ranks 16th in the nation; 64% of students do graduate with debt, and that amount averages $29,934. Debt consolidation is one strategy used by young adults in an effort to manage that student loan debt.

The Attorney Generalís Office in Maine has warned consumers to be aware of a phone scheme whereby callers push Mainers to pay off debts using prepaid debit cards or wire transfers, as the caller pretends to be a representative from the government or a business with whom the resident has a relationship. The state encourages consumers to hang up if they receive any such phone calls.


York residents hit by double whammy of tax hikes

YORK, Maine - When taxpayers received their bills last month, almost everyone in town got a double jolt. Not only did the tax rate go up 20 cents per $1,000 of valuation, but three quarters of ...

Published:  Wed, 19 Sep 2018 13:29:00 GMT

Waterville council rejects move to tax Colby, Thomas colleges

WATERVILLE - The City Council on Tuesday rejected a request to submit a petition started by a candidate for the Maine House of Representatives that seeks money from Colby College and Thomas College to ...

Published:  Wed, 19 Sep 2018 17:23:00 GMT

New tax law to benefit low-income Mainers, avoid complications for companies

A law enacted Tuesday to conform Maine's tax code to the federal code includes new benefits for the state's lowest wage earners. Passage of the law was prompted by Republican-led changes to the federa...

Published:  Wed, 12 Sep 2018 17:08:00 GMT

"ėI support higher taxes': The billionaire behind the National Debt Clock has had it with Trump

Durst has a message for Congress: Tax the rich more. "I support higher taxes on people like me," said Durst in an interview from his office in midtown Manhattan with sweeping views of the city. "I thi...

Published:  Mon, 17 Sep 2018 05:34:00 GMT

Tariffs May Wipe Out Gains From Tax Cut

For those who think these tariffs are simply a negotiating tactic to correct China's bad actions, let me make another suggestion. Perhaps enacting the overall corporate tax cut first was also a ...

Published:  Wed, 19 Sep 2018 05:31:00 GMT

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