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      September 19, 2018

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Debt Consolidation in Nevada

Nevada MapWhen considering consumer debt in the state of Nevada, statistics vary widely across a number of dimensions. For example, Nevada ranks absolutely last when looking at the proportion of college graduates with debt. Only 43% of students receive their diplomas with any remaining student loans. And, for those who do have loans, the average amount of that debt is $21,666, placing them 48th out of 50 states.

However, foreclosure rates in Nevada are some of the worst in the nation, with an average of one in every 495 homes in the state in foreclosure. These rates may correlate with the median sales price of $184,500 for single-family homes. Foreclosure can sometimes be avoided with the help of a debt consolidation agency, to develop a plan before oneís debt becomes unmanageable.

Credit card debt in Nevada is the fifth-highest in America, with the average citizen carrying a credit card balance of $9,107.19. However, Nevada is one of four states experiencing the greatest drop in per capita debt, going from $88,500 to $49,350 in a five-year period.

Bankruptcy rates are also high, with over 10,500 Nevadans filing for individual bankruptcy in an average year, representing a rate of 4.28 filings out of every 1000 people. This puts Nevada in 7th place in the country. Debt consolidation is one strategy available to residents seeking to avoid filing for bankruptcy.

Nevada residents should be aware of the laws governing debt collection in the state - especially that for most debts, there is a six-year statute of limitations. This statute of limitations does apply to medical debt in the state of Nevada. State law does allow for wage garnishment for the collection of most kinds of debt. Additionally, debt collection agencies are required to be licensed by the State Commissioner.


Trump tax law takes center stage in Nevada Senate race

The war over President Trump Donald John Trump Ex-Playboy model accuses GOP fundraiser Elliott Broidy of physical abuse: reports Cohen seeks to vacate hush-money deal with Stormy Daniels Stormy ...

Published:  Sat, 08 Sep 2018 10:36:10 GMT

Nevada Question 2: Exempting Feminine Hygiene Products from the Sales Tax

Voters in Nevada will be asked several questions on their November ballot. One, known as Question 2, would amend the state's sales tax code to exempt feminine hygiene products from taxation. Currently ...

Published:  Fri, 07 Sep 2018 12:38:00 GMT

Keeping Track of Nevada's Cash-Only Cannabis Industry Taxes

The legal marijuana industry brought in about $70 million in tax revenue last year, surpassing the estimated $50 million. That money is all collected by the state, in cash. Cannabis tax revenue comes ...

Published:  Mon, 17 Sep 2018 18:13:00 GMT

Governor candidates Laxalt, Sisolak at odds on raising taxes

Laxalt opposes raising taxes; Sisolak's campaign mantra prioritizes raising them. Their pledges come on the heels of the Nevada State Legislature voting to raise taxes through a constitutional amendme...

Published:  Thu, 13 Sep 2018 12:49:00 GMT

Douglas County approves 50 cents for 911

Should the tax rate ultimately be approved, it would bring in $447,000 a year to the system. In 2017, the Nevada Legislature approved letting the counties increase their 911 surcharge to $1. The surch...

Published:  Wed, 19 Sep 2018 06:33:00 GMT

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