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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.


Proposed Montana Building Regulations Would Apply to Trailers

Tiny houses don't fit tax and regulatory policies designed for big homes. A bill before the Montana legislature authorizing local governments to regulate and tax tiny houses used as permanent ...

Published:  Wed, 24 Apr 2019 11:19:00 GMT

Should you use your tax refund to pay down your student loans?

Now that the April 15 tax deadline is behind us, many filers will likely see their refunds hit their bank accounts in the coming weeks. As of early April, the average federal tax refund for the ...

Published:  Wed, 24 Apr 2019 13:30:00 GMT

Guest opinion: Montana tax reform: Mission unaccomplished

When the Legislature can't even come up with a tiny slice of money for high school students to buy solar systems for schools, it is time to consider comprehensive tax reform - although no ...

Published:  Sat, 13 Apr 2019 03:15:00 GMT

Minnesota Senate GOP unveils tax bill with income tax cut

ST. PAUL, Minn. (AP) - Republicans who control the state Senate unveiled a bill Wednesday that they said will cut taxes for half of all Minnesota taxpayers while having no net impact on the budget, in ...

Published:  Wed, 24 Apr 2019 14:34:00 GMT

Gov. Bullock vetoes three bills, including tax cut on Social Security income

After a taxpayer's income reaches the threshold, the portion of their Social Security benefits subject to income tax in Montana increases gradually with one's income, topping out at 85 percent.

Published:  Mon, 22 Apr 2019 16:40:00 GMT

Handful of US states, including Montana, are poised to legalize sports betting

Some lawmakers were not swayed by the promises of new tax revenue. "Everybody in Montana is going to bet on sports, we're going to be raking in the dough - I don't believe that for a second ...

Published:  Tue, 23 Apr 2019 16:52:00 GMT

Montana governor's 3 vetoes include Social Security tax bill

Montana's governor has vetoed three bills including an increase in Social Security exemptions. The Independent Record reports that Democratic Gov. Steve Bullock vetoed the bills Thursday before the ...

Published:  Thu, 18 Apr 2019 19:58:00 GMT

Mt. Juliet town halls on property tax rate increases

A proposal to more than triple property tax rates for Mt. Juliet residents will be discussed in a town hall meeting at 6:30 p.m., Thursday, at the Mt. Juliet Police Department, 1019 Charlie Daniels ...

Published:  Wed, 17 Apr 2019 10:36:48 GMT

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