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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.

 

New fiscal year begins with strong sales tax results for Oklahoma City

Busy streets, busy shops, and the hustle and bustle of metro area commerce are no illusion, judging from Oklahoma City's latest sales tax numbers. The city of Oklahoma City took in $39,842,000 the las...

Published:  Wed, 11 Jul 2018 02:00:00 GMT



Oklahoma City Thunder Now Have a $150 Million Luxury Tax Bill

The Oklahoma City Thunder have officially broken a barrier, and not the kind you want to cross. The Thunder re-signed Raymond Felton to a one-year, $2.4 million deal Tuesday night. In doing so, the Th...

Published:  Tue, 03 Jul 2018 22:54:02 GMT



Group drops effort to repeal tax hikes for Oklahoma teachers

OKLAHOMA CITY - An anti-tax group seeking to roll back a package of tax increases approved by the Oklahoma Legislature to help fund a teacher pay raise said Monday it is abandoning the effort. The Okl...

Published:  Tue, 03 Jul 2018 03:47:00 GMT



New Gas, Cigarette Tax Rates Go Into Effect in Oklahoma

TULSA, Okla. (AP) - July marks the beginning of several Oklahoma tax hikes to raise more than $400 million for teacher salaries and other budget priorities. Drivers have begun paying an extra 3 cents ...

Published:  Tue, 03 Jul 2018 10:34:00 GMT



Anti-tax group abandons effort to repeal Oklahoma tax hikes

OKLAHOMA CITY (AP) - An anti-tax group seeking to roll back a package of tax increases approved by the Legislature to help fund a teacher pay raise said Monday they are abandoning their effort. The Ok...

Published:  Mon, 02 Jul 2018 20:01:00 GMT



Oklahoma expects more smokers to get help amid cigarette tax

OKLAHOMA CITY (AP) - Public health advocates expect more Oklahoma residents to try quitting smoking as they face the state's cigarette tax increase that began this month. As many as 18,700 smokers in ...

Published:  Mon, 09 Jul 2018 14:42:00 GMT



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