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Debt Consolidation in Missouri

Missouri MapMissouri ranks as one of the lowest states in the Union with respect to credit card debt, coming in 42nd with an average credit card balance of $4,009.37 per resident.

However, in one aspect of consumer debt - auto loans - Missouri is expected to have the second largest increase in the nation at 7%, second only to the state of Michigan. Residents who take on too much debt could find themselves facing delinquency in making payments, unless they consider options such as debt consolidation.

Missouri also ranks high in bankruptcy filings: 11th overall in the United States, with over 20,000 residents filing for personal bankruptcy in an average year. This represents a rate of approximately 3.5 individuals out of every 1,000.

Bankruptcy rates are often related to foreclosures, and Missouri experiences a foreclosure rate of 1 in every 1632 homes in a state of foreclosure in a typical year. The hardest-hit is Jefferson County, where 1 in every 764 homes is in foreclosure, more than double the rate for the rest of the state. High foreclosure rates are often correlated with high home sale prices, but the median sales price in Missouri for a single-family home is one of the lowest in America at $59,061.

On the other hand, with respect to student loans, Missouri fares somewhat better. Its college graduates rank 19th overall in terms of the percentage graduating with some form of student debt (63%), and an even lower 33rd place when considering the average amount of that debt ($24,957). Some graduates find that debt consolidation helps them to manage this and other debts they have as they enter the workforce.

Missouri residents should be aware that the state has no regulations regarding collection agencies, other than what is required by the Federal Fair Debt Collection Practices Act.


Missouri taxing districts may be 'special,' but they're certainly not transparent

At dozens of stores and restaurants in the St. Louis area, though, consumers pay taxes that directly benefit a private developer or property owner. Missouri has more than 600 such districts, and a new ...

Published:  Thu, 13 Jun 2019 22:11:00 GMT

In assessment shock? Don't panic just yet. Take action to avoid that big tax hit

Every two years, this same scenario plays out as county governments in Missouri attempt to comply with a state mandate requiring that property values on which tax bills are based reflect market ...

Published:  Tue, 11 Jun 2019 15:14:00 GMT

Missouri Gov. signs 'Border War' truce; awaits Kansas action

The Kansas City Star reports the bill would stop Missouri from offering tax incentives to companies moving into the state from Wyandotte, Miami and Johnson counties in Kansas. It it takes effect only ...

Published:  Tue, 11 Jun 2019 22:03:00 GMT

Study: Kansas, Missouri cash in on $550M gaming tax revenue

As gamblers double down at tables in the Kansas City area, local and state governments hit the jackpot in gaming revenue taxes. The American Gaming Association released its 2019 research survey on the ...

Published:  Fri, 14 Jun 2019 11:54:00 GMT

Missouri dismisses tax credit fraud lawsuit against McKee's NorthSide Regeneration

ST. LOUIS - Missouri Attorney General Eric Schmitt's office has agreed to dismiss a 2018 lawsuit accusing Paul McKee's NorthSide Regeneration of state tax credit fraud and waived all future claims ...

Published:  Tue, 04 Jun 2019 03:45:00 GMT

Some Jackson County residents upset after seeing big hikes in property tax assessments

KANSAS CITY, Mo. -- A lot of folks around Jackson County are not happy after receiving this year's property tax assessments. "This is definitely the biggest hike, extremely. It was sticker shock ...

Published:  Thu, 13 Jun 2019 17:08:00 GMT

Kelly plans action to end Kansas-Missouri border war, after Parson signed truce bill

Parson on Tuesday signed legislation to stop Missouri from offering tax incentives to companies that jump the border from Wyandotte, Miami and Johnson counties in Kansas. But it only goes into effect ...

Published:  Fri, 14 Jun 2019 15:22:00 GMT

A Missouri bank is largest buyer and seller of one Oklahoma tax credit

Each year, one bank in Missouri buys and sells millions of dollars worth of Oklahoma tax credits intended to spark the restoration of historic buildings. The credits are an attractive way for many ...

Published:  Thu, 13 Jun 2019 09:15:00 GMT

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