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      July 21, 2018

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Debt Consolidation in Montana

Montana MapIn almost every area of consumer debt, Montana residents fare quite well. For instance, while Montanans rank 7th in terms of states with the highest credit card debt, with an average of $7,180.53 per person, they rank 6th overall in states with the lowest levels of personal debt. Only 4.1% of individuals with credit carry a balance that is past due; of that amount, 26.2% have debt in collections with an average dollar amount of $6,543.

Big Sky Country residents also rank low when looking at bankruptcy rates. In an average year, only 1,514 individuals file for bankruptcy, representing a rate of 1.6 filings for every 1000 people in the state. With some other states having bankruptcy filings of over 20,000 per year, this places Montana in 46th place overall. Debt consolidation is one strategy that Montanans are using to manage their financial challenges in ways that avoid the need to file for bankruptcy.

Montana experiences a very low rate of home foreclosures in comparison with the rest of the United States, with an average of 1 home in every 8000 in a state of foreclosure. Even in the counties with the highest foreclosure rates in the state, Mineral and Pondera, this rate still stays above one in every thousand homes. Considering that Montana has a higher median list price for single-family homes - $239,000 - than many other states, its low foreclosure rate is surprising.

On the other hand, college graduates in Montana do fare slightly less well than students in a number of other states. Montana is 13th overall with respect to the proportion of students graduating with debt - 66% - and 20th when considering the average debt amount of $27,658 held by those students.

State residents considering debt consolidation can feel confident knowing that all companies offering debt management plans in Montana are licensed by the Montana Department of Justice.


Tester decries recent expansion of online sales tax during tour of travel gear company based in Billings

The requirements from the Supreme Court's ruling compound the problem for states like Montana that have no sales tax, Tester said. "It's a whole new infrastructure" these states would have to build, h...

Published:  Fri, 20 Jul 2018 16:56:00 GMT

Bozeman sets stage for another sales tax push

With roughly five months before lawmakers meet in Helena, Bozeman leaders are once again building arguments to sway legislators to let Montana cities create a sales tax to collect money from out-of-st...

Published:  Fri, 20 Jul 2018 05:08:00 GMT

16 states have back-to-school sales tax holidays: Is yours one of them

Clothing and supplies up to $75, computers up to $750 and computer supplies valued up to $250. Of course, if you live in Delaware, Alaska, Montana, Oregon or New Hampshire, there's never any state sal...

Published:  Fri, 20 Jul 2018 08:17:00 GMT

Tax bill bad deal for Montana, United States

Vice President Mike Pence is coming to Montana to try to convince us the tax act passed by the Republican Congress and Donald Trump is a good deal for Montanans and the country. He is wrong on both ac...

Published:  Fri, 20 Jul 2018 12:44:00 GMT

Number of disabled vets to get tax refunds jolts law's backers

Keel laying ceremony at Newport News Shipbuilding for submarine Montana SSN 794. Nineteen months ago, as Congress considered the Combat-Injured Veterans Tax Fairness Act of 2016, lawmakers shepherding ...

Published:  Fri, 20 Jul 2018 10:55:00 GMT

The Latest: Hungary passes tax against support for migration

THESSALONIKI, Greece (AP) - The Latest on the influx of migrants in Europe (all times local): 5:50 p.m. Hungarian lawmakers have approved a 25 percent tax on financial or material support for groups p...

Published:  Fri, 20 Jul 2018 08:41:00 GMT

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