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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.


Natick Tax Rate To Dip Slightly, But Bill Will 'Look Higher'

NATICK, MA-While the property tax rate is slated to dip ever-so-slightly for FY2019 in Natick, the real estate bill will still look a little higher, according to officials. At a tax ...

Published:  Tue, 13 Nov 2018 08:46:00 GMT

Massachusetts' upside-down tax system

AT A TIME when people across the state seem to agree that our Commonwealth needs additional resources for public investments, asking those with the highest incomes to contribute a similar share of the...

Published:  Wed, 07 Nov 2018 13:44:00 GMT

Here's the lawmaker who can request Trump's tax returns and he's right over the Massachusetts border

His name is Rep. Richard Neal and he's about to become a household name. After nearly a decade in the minority, Democrats will return to Washington in January ready to unleash the full weight of ...

Published:  Wed, 07 Nov 2018 12:24:00 GMT

Pittsfield, MA Mayor Announces "Historic" Tax Break

The mayor of Pittsfield, Massachusetts is announcing what she calls a historic break for taxpayers in Berkshire County's largest community. Mayor Linda Tyer, who enters the third year of her first ter...

Published:  Thu, 08 Nov 2018 09:40:00 GMT

US Rep. Neal: Democrats Plan to Ask for Trump Tax Returns

BOSTON (AP) - U.S. Rep. Richard Neal, in line to be the next House Ways and Means Committee chairman, is planning to ask for President Donald Trump's tax returns. The Massachusetts Democrat said "yes, ...

Published:  Wed, 07 Nov 2018 15:07:00 GMT

Average Danvers Property Tax Bill Going Up $181 Next Year

DANVERS, MA -- The typical Danvers homeowner will see their property tax bill rise $181, or 3.01%, next year. Danvers Selectmen set tax rates for fiscal year 2019 Thursday night. The new rates ...

Published:  Fri, 09 Nov 2018 03:52:00 GMT

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