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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.

 

Gas tax defeat means Missouri lawmakers will be seeking money for roads

Missouri voters' rejection of a gasoline tax increase last week leaves state officials scrambling again for a successful route to solving the Missouri Department of Transportation's chronic money prob...

Published:  Mon, 12 Nov 2018 06:57:00 GMT



With the failure of Missouri's gas tax increase, what's next for the roads

On Election Day, Missourians said no to raising the state's gasoline tax by 10 cents a gallon over the next four years. Since there was no organized opposition, the defeat of Proposition D was a surpr...

Published:  Wed, 07 Nov 2018 23:53:00 GMT



Missouri voters approval medical marijuana, reject gas tax

ST. LOUIS - Missouri voters on Tuesday approved a measure that would give them access to medical marijuana, joining a long list of states that allow the once-forbidden drug to be used for medicinal pu...

Published:  Wed, 07 Nov 2018 04:31:00 GMT



With failure of gas tax, Missouri transportation budget may face rocky road

Voters' sound defeat of a proposition to raise Missouri's gas tax by 10 cents makes the state's path to improving its crumbling roads and bridges less clear. Supporters of the increase are planning th...

Published:  Fri, 09 Nov 2018 04:36:00 GMT



Missouri voters once again reject gas tax increase to improve roads

KANSAS CITY, Mo. -- Missouri voters have spoken. They won't shell out any extra tax money for gas. On Tuesday, they voted down Proposition D, which would have increased the gas tax by 10 cents ...

Published:  Fri, 09 Nov 2018 00:30:00 GMT



BioGenerator seeking up to $1.5 million in state tax credits for new lab space

A St. Louis economic development agency is working with BioSTL to procure $1.5 million in Missouri tax credits to support the development of new lab space in the Cortex district. BioSTL operates BioGe...

Published:  Fri, 16 Nov 2018 03:29:00 GMT



This was the worst mistake Missouri voters made in Tuesday's election

Missouri voters have rejected - yet again - a credible plan to improve the state's roads, by increasing the gas tax. The decision is disappointing and potentially dangerous. It delays the day of recko...

Published:  Wed, 07 Nov 2018 12:30:00 GMT



Missouri voters reject gas tax increase, approve minimum wage hike

Missouri voters have turned down a proposal that would have raised the state's gas tax to help pay for road and bridge improvements. Proposition D, voted down on Tuesday, would have increased the stat...

Published:  Tue, 06 Nov 2018 22:39:00 GMT



Next steps unclear after Missouri gas tax increase fails

Supporters of a plan that would have boosted Missouri's gas tax by 10 cents are plotting their next steps after voters rejected the increase Tuesday. Proposition D failed 54 percent to 46 ...

Published:  Wed, 07 Nov 2018 17:28:00 GMT



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