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Debt Consolidation in Maryland

Maryland MapMaryland has one of the lowest levels of credit card debt in the nation, coming in 43rd with an average debt of $3,872.39.

Auto loan debt is another factor in Marylandís personal debt statistics, but studies forecast that the state will see a 2% decline in auto loan delinquency rates in the future.

Medical debt also impacts many individuals, but Maryland law limits the amount that hospitals and other providers are allowed to charge patients without medical insurance.

Student debt in Maryland averages about $26,349, placing Maryland in 26th place compared with the other fifty states. 59% of the stateís college graduates do find themselves with student loan debt, and many would benefit from debt consolidation services to help manage their post-university financial challenges.

Maryland enjoys some of the highest home values in the country - and thus some of the highest mortgages - with a median sale price of $240,000. This may play a large role in the fact that Maryland has one of the highest per-capita foreclosure rates, with a state average of 1 in every 611 homes in foreclosure, and with even more drastic numbers in specific counties. For instance, Calvert County sees approximately 1 in every 347 homes in foreclosure, and similar results are found in Charles County with 1 in every 392 homes also in foreclosure.

Also, 4.9% of Mainers with credit files have a past due debt balance, with 36.8% of those residents already finding themselves in collections with an average amount of $4,273 owed.

In a typical year, Maryland sees more than 29,000 residents file for bankruptcy, with about 5.14 out of every 1000 individuals filing. This puts Maryland in 21st place compared with bankruptcy rates in other states.

The Office of the Maryland Attorney General suggests that citizens consider the possibilities of credit counseling and debt consolidation as two alternatives to resolving financial difficulties, especially before filing for bankruptcy.

 

Democratic gubernatorial candidate Ben Jealous vows to seek a cut in Maryland sales tax if elected

Democratic gubernatorial challenger Ben Jealous will attempt to lay claim to the mantle of tax-cutter Thursday, announcing at a Baltimore news conference that if elected he will call for reducing the ...

Published:  Fri, 07 Sep 2018 10:20:00 GMT



Maryland just opened up a tax credit for cybersecurity investors

A change in the incentive for investors in the state's cybersecurity companies was passed in Annapolis this year. The law also includes a unique tax credit for small businesses who buy local. Followin...

Published:  Thu, 13 Sep 2018 09:47:00 GMT



D.C. and Maryland Lower Estate Tax Exemptions

In 2017, both the District of Columbia (D.C.) and Maryland were on track to match the federal estate tax exclusion amount: D.C. in 2018 and Maryland in 2019. However, both jurisdictions were apparentl...

Published:  Thu, 13 Sep 2018 11:49:00 GMT



Jealous, Hogan trade blows over proposal to lower Maryland sales tax

Ben Jealous unveiled a proposal Thursday morning in Baltimore to lower Maryland's sales tax rate, a move he said will boost the state's economy. Jealous, the Democratic nominee for governor, is taking ...

Published:  Thu, 06 Sep 2018 13:22:00 GMT



Ameritech Financial: Sept.15 Deadline for Maryland Student Loan Debt Tax Credit Fast Approaching

ROHNERT PARK, Calif., September 14, 2018 (Newswire.com) - The Sept. 15 deadline for applications to a Maryland student loan debt tax credit is fast approaching. The tax credit is available for Marylan...

Published:  Fri, 14 Sep 2018 05:31:00 GMT



Jealous releases plans to reduce Maryland sales tax

Democratic nominee for governor Ben Jealous announced plans to cut the state sales tax. Jealous' sales tax cut proposal goes farther than anything the Hogan administration has proposed, so it's no sur...

Published:  Thu, 06 Sep 2018 12:32:00 GMT



Jealous Proposes Cut To Maryland Sales Tax

BALTIMORE (AP) - Maryland Democrat Ben Jealous says he would propose cutting the state's sales tax from 6 percent to 5.75 percent, if he is elected governor. Jealous said Thursday it is part ...

Published:  Thu, 06 Sep 2018 17:29:00 GMT



Maryland Governor Pitches $1 Billion 'Aspirational' Tax Cut to Win Over Retirees -- Again

On the campaign trail, Maryland Gov. Larry Hogan often talks about how he wants lower taxes for retirees -- including exempting 100 percent of retirement income from Maryland taxes. The Republican gov...

Published:  Wed, 05 Sep 2018 05:17:00 GMT



Maryland Proton Treatment Center refinances through tax-free bonds

The Maryland Proton Treatment Center announced completion of a financing arrangement Wednesday that the center believes will enable it to focus more on treating patients and supporting clinical ...

Published:  Wed, 05 Sep 2018 11:29:00 GMT



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