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      February 19, 2019

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Debt Consolidation in Mississippi

Mississippi MapAcross several kinds of consumer debt, residents of the state of Mississippi vary widely. For instance, with respect to student debt, graduates rank 34th overall with 57% finishing degrees with outstanding loans; however, those same graduates rank 19th in terms of the amount of debt, with an average balance of $27,571 upon graduation.

Mississippi is second only to Kentucky when looking at credit card debt. The average credit card balance is $9,821.80. For those who do not find a way to manage that credit card debt, such as through use of debt consolidation services, they may find themselves considering bankruptcy.

In Mississippi, there are almost 11,000 individuals who file for bankruptcy in an average year, at a rate of 3.71 filings for every 1000 residents. This puts Mississippi in tenth place in comparison with other states in America.

Mississippi also has the dubious honor of being the state with the highest rate of auto loan delinquency: 2.54% of all auto loans in the state are delinquent in an average three-month period. Debt consolidation would be one way for Mississippi residents to address such auto loan debt before it becomes delinquent.

In one measurement, however, Mississippi is doing better than many states in America: foreclosure. Only one in every 4483 homes in the state is in foreclosure, and even the hardest-hit counties (George, De Soto, and Jackson) are just under one home in every 2000 facing foreclosure. Mississippi does have a median list price that is also lower than many other areas in the nation at $139,500.

Mississippi residents should be aware that it is a ?one party? consent state, meaning that debt collectors are allowed to record a phone call made for the purposes of collection without getting the permission of the person receiving the call.


Restaurant and hotel tax could pay for tourism spending increase

The Mississippi legislature is considering legislation that would designate 3 cents worth of existing sales tax collections from hotels and restaurants for advertising on tourism around the state. Mil...

Published:  Mon, 18 Feb 2019 14:31:00 GMT

Mississippi accountant on trial on federal tax charges

HATTIESBURG, Miss. (AP) - A federal trial has started for a former certified public accountant facing tax-related charges in Mississippi. News outlets reported the trial of 73-year-old Carl Nicholson ...

Published:  Tue, 05 Feb 2019 06:34:00 GMT

Elizabeth Warren Wants a Wealth Tax. How Would That Even Work

Even in years when his wealth rises by billions, he must pay tax only on his comparatively modest income and on the gains from shares that he chooses to sell. Ms. Warren and other advocates of a wealt...

Published:  Mon, 18 Feb 2019 02:19:00 GMT

Elizabeth Warren's popular plan to tax the rich is probably unconstitutional

But if the tax is applied to just the super rich in a given state, other weird problems emerge, since Article I used the percentage of the national population as a whole. Some states, such as Kansas o...

Published:  Fri, 15 Feb 2019 03:14:00 GMT

Mississippi County voters approve splitting hospital tax

The special election comes as Mississippi County residents decide whether or not to extend the current half-cent hospital tax and split it to include renovations to the Blytheville and Osceola Courtho...

Published:  Wed, 13 Feb 2019 06:04:00 GMT

Former Mississippi CPA found guilty in tax case

HATTIESBURG, Miss. (AP) - A federal jury has found a former accountant guilty of conspiracy to defraud the United States. U.S. Attorney Mike Hurst says jurors convicted 73-year-old Carl Nicholson, of ...

Published:  Fri, 08 Feb 2019 18:36:00 GMT

Advocates for reducing Kansas sales tax on food make case before tax committee

He noted the presence in Topeka of a Mars manufacturing facility and said a Twix bar would count, because it contains flour, but M&Ms would be excluded. Adrienne Olejnik, of Kansas Action for Children ...

Published:  Mon, 18 Feb 2019 16:56:00 GMT

MPs call for fashion brands to pay penny tax to pay for recycling cheap clothes

They want fashion brands to be charged a 1p tax on every item of clothing they produce. They say this will raise £35million a year to bankroll a recycling drive. Ms Creagh said: "Fashion shouldn't cos...

Published:  Mon, 18 Feb 2019 17:13:00 GMT

Viewpoint: Cigarette tax can protect youth from big tobacco

Our legislature hasn't raised our cigarette tax in 12 years, despite having bipartisan support and support from 70 percent of Hoosiers polled on the issue. Our health rankings are slipping and now put ...

Published:  Fri, 15 Feb 2019 03:34:00 GMT

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