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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.


Trump Tax Returns Request Raises 'Serious Constitutional Questions,' Mnuchin Says

Neal, a Massachusetts Democrat ... well-documented effort to expose the president's tax returns for the sake of exposure," Mnuchin wrote. Neal has said that the committee needs to see the ...

Published:  Wed, 24 Apr 2019 06:15:00 GMT

State eyes bigger net for online sales tax

In his preliminary budget, Gov. Charlie Baker called for a rule that retailers with at least $100,000 or more in online sales to Massachusetts residents collect and pay the state's 6.25 percent sales ...

Published:  Wed, 24 Apr 2019 14:39:00 GMT

The Wealthy In Massachusetts Don't Pay Enough In Taxes. We Can Change That

Here's something you might not know about liberal Massachusetts: In the past four decades, the commonwealth has seen the third-largest decrease in taxes of any state. The victims of this trend are ...

Published:  Thu, 18 Apr 2019 02:10:00 GMT

Elizabeth Warren wants to wipe away $640 billion in student debt - with a tax on the rich

Elizabeth Warren of Massachusetts released a proposal that would provide ... and Warren is proposing to pay for it through a tax on the super rich. Under her plan, borrowers with a household income ...

Published:  Wed, 24 Apr 2019 14:10:00 GMT

Massachusetts Tax Deadline Is April 17

BOSTON - Tax day is coming. And although it's usually April 15, you have until April 17 to file your 2018 federal tax returns without incurring a penalty from the Internal Revenue Service.

Published:  Tue, 16 Apr 2019 07:23:00 GMT

How High Are Taxes on Recreational Marijuana in Your State?

Ten states (Alaska, California, Colorado, Maine, Michigan, Massachusetts, Nevada ... The map below highlights the states that have legal markets and levy taxes on recreational marijuana. Of the states ...

Published:  Wed, 24 Apr 2019 15:20:00 GMT

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