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      February 18, 2019

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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.


Mixed results in study of Nevada's Opportunity Scholarships

A new study of a scholarship program for low-income students in Nevada could provide ammunition to both advocates and critics of the tax-credit-subsidized initiative. A small portion of the low-income ...

Published:  Fri, 15 Feb 2019 18:53:00 GMT

These 5 States Don't Tax Your Income - but There's a Catch

According to ITEP's data, these are the five states with the most regressive state and local tax systems: Washington Texas Florida South Dakota Nevada One of the most obvious shared features ...

Published:  Sat, 16 Feb 2019 12:23:00 GMT

Nevada AG warns of tax season scams

CARSON CITY, Nev. (KOLO) - Nevada Attorney General Aaron Ford is warning consumers to be vigilant in protecting themselves from phony Internal Revenue Service scams as the 2019 tax season begins. "As ...

Published:  Wed, 06 Feb 2019 14:36:00 GMT

Google reaped millions in tax breaks as it secretly expanded its real estate footprint across the U.S.

Apple also has sought multimillion-dollar tax giveaways to build a 5,000-person campus in Austin ... including in Virginia and Nevada, according to public announcements and company statements. [Read t...

Published:  Fri, 15 Feb 2019 22:13:00 GMT

Tax officials ask lawmakers to push back bill's date for legal pot sales

The problem for tax officials is not that the state would be selling marijuana ... Other states have moved more quickly, however. Voters in Nevada in late 2016 decided to legalize cannabis for recreat...

Published:  Sat, 16 Feb 2019 20:33:00 GMT

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