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      July 23, 2018

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Debt Consolidation in Massachusetts

Massachusetts MapMassachusetts falls pretty squarely in the top 20 in most dimensions of personal debt. The state ranked 14th in a Deseret News article looking at the lowest levels of personal debt in the United States. This ranking was based on a 4.5% share of the population with past due debt, with 23% of those individuals with debt already in collections averaging $4,602. Some residents in that situation would benefit from debt consolidation strategies to manage their financial challenges. On the other hand, Massachusetts is listed as having the 11th highest level of credit card debt in the nation with an average of $7457.84 per resident.

Students graduating from college in Massachusetts rank 13th with respect to the percentage who finish their studies with debt - 66% - and 14th in the average amount ($28,565) of that loan debt.

However, Massachusetts comes in 33rd place when it comes to bankruptcies filed, with just over 23,000 in a typical year and a rate of 3.52 filings per 1000 people in the state population.

Massachusetts also has one of the highest median home sale prices in the nation at $313,000. However, unlike many states with high home values - and thus high mortgage balances - the state does not have a correspondingly high foreclosure rate. The state averages 1 in every 2400 homes in foreclosure; even in Plymouth County, the region with the largest number of homes in foreclosure, the rate is still only 1 in every 1310 homes.

Medical debt continues to be an issue for residents of Massachusetts, with a reported 20% of adults surveyed stating that they did have medical debt that they were paying over several months or years, and slightly less than that reporting difficulties in paying medical bills in previous years. This debt is in spite of a Massachusetts law that preceded the Affordable Care Act in requiring all residents to carry medical insurance. A wide variety of debt consolidation agencies in the state can help residents address issues resulting from medical and other debt.


Slow Rollout of Pot Sales Clouds Marijuana Tax Forecast

BOSTON (AP) - A fiscal research group says the slow rollout of recreational marijuana sales in Massachusetts casts doubt on projected state revenue from cannabis taxes. The annual state budget approve...

Published:  Sun, 22 Jul 2018 08:12:00 GMT

Massachusetts budget leaves out provision repealing tax break for K-12 private school tuition

BOSTON -- Massachusetts lawmakers have chosen not to act to prohibit Massachusetts tax breaks from helping families pay for private school. A federal tax law change will for the first time this year a...

Published:  Thu, 19 Jul 2018 18:00:00 GMT

Massachusetts House votes to adopt sales tax holiday amendment

This material may not be published, broadcast, rewritten, or redistributed. Mass. (WWLP) - Massachusetts shoppers could see a sales tax free weekend sooner than expected. The Massachusetts House has a...

Published:  Wed, 11 Jul 2018 02:50:00 GMT

Massachusetts House approves August sales tax holiday

BOSTON - Massachusetts shoppers are a step closer to enjoying their first sales tax holiday in three years. The House on Tuesday approved an amendment to an economic development bill that would suspen...

Published:  Tue, 10 Jul 2018 23:17:00 GMT

Massachusetts Leaders Ponder Tax Incentives To Launch Broadway Hits From Boston

Massachusetts lawmakers hope the lights don't stay dim for long when the curtains come down at the end of the pre-Broadway run of "Moulin Rouge! The Musical" at Emerson College's Colonial Theatre in A...

Published:  Tue, 17 Jul 2018 11:40:00 GMT

Data Charges Exempt in Massachusetts Under Internet Tax Freedom Act

The Massachusetts Appellate Tax Board held that charges for data services were exempt from Massachusetts sales tax under the Internet Tax Freedom Act ("ITFA" ). New Cingular Wireless PCS LLC v. Commiss...

Published:  Tue, 17 Jul 2018 04:19:00 GMT

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