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Debt Consolidation in Oklahoma

Oklahoma MapAmerican consumers owe in total the incomprehensible sum of $11.38 trillion, a debt that is an amalgamation of mortgages, student loans, credit card, and auto loans. Each of the different states owes different amounts and Oklahoma actually makes the top-ten list of states with the highest consumer or personal debt in the country. According to US consumer debt statistics, a shocking 25% of Americans have more credit card debt than money in their savings account and Oklahoma itself has a similar story.

Frequenting the top-ten list means that the average resident of Oklahoma owes a substantial amount of money via one or a combination of multiple types of debt. For many homeowners the mortgage is the main concern but others can find themselves owing in a whole range of areas including personal loans, auto loans and often student loans as well. The stress and pressure of staying on top of each individual debt and ensuring that payments are made on time each month can quickly and understandably become too overwhelming. Debt consolidation is one option that can help to provide some relief and reduce the overall cost of these monthly payments.

Despite these worrying facts and figures, Oklahoma has over the last few years experienced rapid growth of the economy, making it a potentially prosperous place to reside with an excellent standard of living. The main areas of industry that have and continue to contribute to the growth of local economy include aviation, telecommunications, biotechnology and energy. It is also an important producer of a range of products relating to agriculture as well as natural gas and oil. All of these factors have led to continued growth of the regions gross domestic product as well as personal income. Another advantage of living in the State of Oklahoma is the low tax burden, which is also one of the reasons that it was awarded the title of one of Americas most business friendly states.

Overall, Oklahoma was hit hard by the financial crisis but the growth in the economy is slowly easing the problem. As income increases and rates of unemployment continue to decrease, the issue relating to high levels of personal debt is sure to improve. Debt consolidation can for many be the reprieve that?s needed to help get on top of the situation and begin to work for the future instead of paying off the past.


Oklahoma City sales tax win streak best in more than a decade

December sales tax results show the metro economy still humming. The city received a $39.3 million from the Oklahoma Tax Commission in sales tax for collections the last two weeks of October and ...

Published:  Mon, 17 Dec 2018 10:04:00 GMT

Bill Exempting Discrimination, Qui Tam Awards From Income Tax Gets Final Legislative OK

New Jersey lawmakers on Monday gave final legislative approval to a bill that would allow successful plaintiffs in fee-shifting discrimination and qui tam cases to claim a gross income tax ...

Published:  Mon, 17 Dec 2018 15:27:00 GMT

States Are Hunting for Sales Tax Avoiders

A data analytics company working with the Indiana Department of Revenue has identified at least 1,000 companies with potential sales tax collection obligations in the Hoosier State. Connecticut, Illin...

Published:  Mon, 17 Dec 2018 07:08:00 GMT

Drilling Rigs Bring Workers, Tax Windfall to Oklahoma

As drilling for oil and natural gas increases, some Oklahoma towns are reaping the economic benefits from temporary workers who need food, plus housing that often comes in the form of recreational veh...

Published:  Sat, 15 Dec 2018 07:49:00 GMT

Cass County Board: Owner OK to repurchase tax forfeited property

WALKER-Cass County Board approved Dawn Schubel's repurchase of her tax forfeited property in Hiram Township Thursday, Dec. 6, but not without extensive discussion. The township approved her proposed r...

Published:  Sun, 16 Dec 2018 04:54:00 GMT

Board takes aim at tax breaks

As part of its third-annual report to lawmakers, the state's Incentive Evaluation Commission has recommended the Legislature repeal the tax break. Though energy-efficient homes save Oklahoma residents ...

Published:  Sun, 16 Dec 2018 23:08:00 GMT

UPDATE: The new tax law is nothing but good news for married couples with larger estates

Making gifts of appreciating assets will use up part of your unified federal estate and gift tax exemption, but that's OK because any future appreciation is kept out of your taxable estate. Set up irr...

Published:  Mon, 17 Dec 2018 07:16:00 GMT

An Echo Press Editorial: In defense of tax increases...

OK, the headline for this editorial is a little misleading ... But a modest, carefully planned and thought-out levy increase does make sense. The alternative - a zero tax increase or a reduction - wou...

Published:  Fri, 14 Dec 2018 11:01:00 GMT

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