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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.


Md. governor candidate: Legalize, tax pot to pay for pre-K education

SILVER SPRING, Md. (AP) - A Democratic candidate for governor of Maryland wants to create universal pre-kindergarten and pay for it with tax revenue from legalizing marijuana. Ben Jealous released the plan Friday. Jealous is running for the Democratic ...

Published:  Fri, 18 May 2018 06:12:00 GMT

Maryland seeks bids for $100 million project to replace tax processing system

The Maryland Office of the Comptroller is seeking proposals for what is expected to be a $100 million job to replace the office's 25-year-old tax processing system. The office issued a request for proposals (RFP) on April 16, with bids due by June 1.

Published:  Wed, 09 May 2018 11:43:00 GMT

Hogan Signs Measures to Cut Taxes, Help Environment

Mike Miller. "This morning we will be signing important initiatives to again cut taxes for hardworking Maryland families, small businesses and retirees, including our veterans," Hogan said. Here's a look at some of the legislation Hogan signed into law ...

Published:  Tue, 15 May 2018 11:08:00 GMT

Surprise: Higher taxes in Maryland chasing out the wealthy

In light of President Obama's exhortation to hike taxes on those making more than $250,000 a year earlier today, here's a well-timed piece of evidence demonstrating what happens when you decide you'd rather engage in populist persecution and punish ...

Published:  Fri, 11 May 2018 23:01:00 GMT

Baltimore's top cop faces charges of failure to file taxes

BALTIMORE - (AP) - Baltimore's police commissioner has been charged with three misdemeanor counts of failure to file taxes. The U.S. Attorney's office alleged Thursday that Commissioner Darryl DeSousa "willfully failed to file a federal return for tax ...

Published:  Thu, 10 May 2018 13:08:00 GMT

Top Baltimore Police Official Suspended After Tax Charges

BALTIMORE (AP) - A day after saying she had "full confidence" in Baltimore's police commissioner as he faces federal charges of failing to pay his taxes, the city's mayor on Friday suspended him with pay. Although Commissioner Darryl De Sousa has been ...

Published:  Sun, 13 May 2018 13:15:00 GMT

Governor Larry Hogan Signs Tax Relief & Job Creation Legislation

The program incentivizes manufacturing companies to create jobs in areas with higher unemployment by providing a tax credit for each new job created. In less than six months, over 110 companies have filed letters of intent with the Maryland Department of ...

Published:  Wed, 16 May 2018 04:57:00 GMT

Baltimore police commissioner charged with failure to file federal taxes

Baltimore Police Commissioner Darryl De Sousa has been charged with three counts of failure to pay federal taxes this week, according to court documents unsealed Thursday. Complete access to news articles on this website is available to Daily Record ...

Published:  Thu, 10 May 2018 12:54:00 GMT

Baltimore's police commissioner resigns after tax charges

BALTIMORE (AP) - Baltimore's mayor has announced the city's police commissioner has resigned after being charged with failing to pay his taxes. Mayor Catherine Pugh said Tuesday she's accepted the resignation of Darryl De Sousa. The U.S. attorney's office ...

Published:  Tue, 15 May 2018 09:34:00 GMT

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