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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.

 

Proposal would allow Howard County to impose a plastic bag tax

The tax would not apply to paper bags, plastic bags used for bulk vegetables or produce, dry cleaning, newspapers or prescription drugs. Two other Maryland counties have bag taxes, enacted to reduce u...

Published:  Fri, 16 Nov 2018 09:54:00 GMT



Amazon Set to Roll in Cash as New York and Virginia Ready to Give Massive Amount of Tax Incentives

One New York state program plans to give Amazon up to $1.2 billion worth of refundable tax credits "calculated as a percentage ... Other locations, including Maryland and New Jersey (both situated nea...

Published:  Wed, 14 Nov 2018 11:07:00 GMT



Maryland Voters Approve Ballot Measure, Direct Gambling Tax Revenue To Schools

The Maryland school system should be getting an influx of cash soon thanks to voters, who overwhelmingly approved Question 1 on the state midterm ballot. The measure, which increases the amount of cas...

Published:  Sun, 11 Nov 2018 22:36:00 GMT



Gov. Larry Hogan re-elected to second term in deep-blue Maryland

Gov. Anthony Brown running on a platform of lowering taxes and improving Maryland's business climate. He overcame a bout with non-Hodgkin's lymphoma during his first year in office and maintained high ...

Published:  Wed, 07 Nov 2018 05:18:00 GMT



Gadfly Rails Against Secret Tax Law For Exempt Organizations

After that he goes out with his walking club to get some exercise. EO Tax Journal is pretty much Paul Streckfus. He lives in Pasadena, Maryland and years ago purchased the house next door to serve as ...

Published:  Tue, 06 Nov 2018 13:27:00 GMT



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