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Debt Consolidation in Ohio

Ohio MapAccording to information and statistics provided by debt.org, Ohio's level of personal or consumer debt is actually lower than that of other residents of the United States. This is when looking at the issue as a whole. However, when you begin to break the numbers down it becomes apparent that certain areas of borrowing create bigger debt problems than others for residents of Ohio.

The two types of debt that stand out in the case of Ohio is credit card loans and student debt, as these are the areas in which the average Ohioan tends to build up the most debt. Combining different kinds of debt such as these through a process like debt consolidation can help to reduce the overall amount owed. According to the 'U.S. News and World Reports', Ohio is home to five of the countries top 115 schools, and unfortunately quality education doesn’t come cheap. When disregarding mortgage debt, student loans actually move into first place as the largest type of debt on average, with $4,300 being the typical sum owed. This is higher than the national American average for student debt.

Credit card debt is the other big area for concern in Ohio, with many spenders owing an average of $2,800 on their credit cards. One study looking into the ratio of household income versus credit card debt revealed three cities located within the state to be in the national top ten of the guiltiest users of plastic. On the plus side and helping Ohioans come out better than the national average overall, is their lower than standard mortgage debt. With a state norm a massive 35% lower than the national one, homeowners also have a lower rate of late payments.

The typical person in Ohio has 26% less debt than the standard American. While this is a significant difference and leaves the locals with a smaller sum to payback, it certainly doesn’t mean that they are completely debt free or have nothing to worry about. In fact debt consolidation remains to be an important and beneficial method for getting on top of debt as quickly as efficiently as possible.

 

Tax credits to support 620 new and renovated housing units in Central Ohio

Ten housing developments around Central Ohio have landed tax credits. The Ohio Housing Finance Agency voted Wednesday to award its 2018 Housing Tax Credits to 37 projects around the state, including 10 in Central Ohio. The funding will substantially ...

Published:  Fri, 18 May 2018 08:35:00 GMT



Sports betting is a big deal, but could amount to few new tax dollars for Ohio

CLEVELAND, Ohio - Making sports bets legal at Ohio's casinos wouldn't by itself amount to much in new tax revenue for the state, if Nevada is any example. Nevada, the gambling capital of America, collected less than $20 million in taxes from sports bets ...

Published:  Wed, 16 May 2018 04:35:00 GMT



Form 497K PUTNAM OHIO TAX EXEMPT

Beginning on May 21, 2018, the fund will offer class R6 shares to: "˘ employer-sponsored retirement plans that are clients of third-party administrators (including affiliates of Putnam) that have entered into agreements with Putnam; "˘ investors ...

Published:  Thu, 17 May 2018 11:37:00 GMT



Ohio tax amnesty program falls short of estimates

Collections of unpaid taxes from Ohio's latest amnesty program have come up short of what had been anticipated. The state collected $14.3 million, below the state's $20 million estimate. The program, which ran from Jan. 1 to Feb. 15, gave businesses and ...

Published:  Tue, 15 May 2018 13:35:00 GMT



Developer seeking tax credits for conversion of historical Provident building

Pearl Cos., which purchased the Provident Bank Building at 642 Vine St., is requesting $3.75 million in Ohio Historic Preservation Tax Credits. The developer bought the building from Diamond Properties for $6.75 million. Jeff Tegethoff, president of Pearl ...

Published:  Fri, 18 May 2018 03:00:00 GMT



Ohio's property tax rate 9th highest in U.S.

The average Ohio homeowner pays 1.72 percent of their home value in taxes, according to an ATTOM Data Solutions analysis of property taxes levied on single family homes. The state has 3.4 million single family homes with an average estimated value of $ ...

Published:  Fri, 18 May 2018 08:05:00 GMT



Supreme Court rejects Navistar's appeal in $27M tax case

The Ohio Supreme Court sided with the state in a legal fight with Navistar over how tax credits are applied to manufacturers throughout Ohio. The truck maker had appealed a previous decision by the state tax commissioner and the Board of Tax Appeals that ...

Published:  Thu, 17 May 2018 05:15:00 GMT



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