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      February 19, 2019

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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 General’s 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.


Watching Your Wallet: Experts explain the new tax code in simple terms

"What I'm really concerned with is where's it going to affect me" McKay said. McKay's question is in reference to the Tax Cuts and Jobs Act: A sweeping overhaul of the U.S. Tax Code, passed by Congre...

Published:  Mon, 18 Feb 2019 17:25:00 GMT

The View From Here: Maine Republicans keep winning on taxes

It's hard to imagine a worse thumping than what the Maine Republican Party endured last Election Day. They not only lost the governorship and a seat in Congress, but they also lost control of the stat...

Published:  Sun, 17 Feb 2019 02:06:00 GMT

"˜It's a slap in the face': Angry New York taxpayer vents over tax return after GOP overhaul

"I usually pay the house insurance, car insurance, and that still leaves me extra to go on a nice vacation," she said of past tax refunds in years past. "I'm not going anywhere this year," Velez woefu...

Published:  Mon, 18 Feb 2019 16:33:00 GMT

Tax cut worked for me

Tax cut worked for me Of course refunds are lower. The tax changes include provisions which lowered withholdings so each paychecks is accordingly higher. Check out this story on https://ww...

Published:  Mon, 18 Feb 2019 16:05:00 GMT

Elizabeth Warren to release universal child care plan paid by "˜wealth tax'

Last month, Warren released a "wealth tax" plan aimed at the most affluent ... "child care nearly turned me upside down." "I still remember vividly the day the babysitter quit and ...

Published:  Mon, 18 Feb 2019 19:30:00 GMT

Business refuses to do gay couple's taxes

Bailey said she's gone to the Russiaville office for four years to get her taxes done. Last year, she even brought along her then-girlfriend Samantha. "She introduced me as her girlfriend and everythi...

Published:  Mon, 18 Feb 2019 18:21:00 GMT

SAHA given the green light to pursue tax credit funding for $20 million loft project

Nisivoccia is trying to secure a 9 percent tax credit from the Texas Department of Housing and ... "They may not have their mother but they still have me," she said.

Published:  Mon, 18 Feb 2019 22:05:00 GMT

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