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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.

 

Edmondson talks tax issues with Oklahoma municipal leaders

Democratic gubernatorial candidate Drew Edmondson backed a proposal Thursday to allow property tax levies for municipal police and fire services and said the state should scrutinize some of the ...

Published:  Fri, 14 Sep 2018 02:00:00 GMT



In Tax-Free States, Businesses Squirm At Collecting Online Sales Taxes For Others

Dennis Daugaard signed the measure earlier this month. But in five states - Hawaii, Maine, Mississippi, Oklahoma, and Vermont - collections have already begun, according to the Sales Tax Institute, a ...

Published:  Mon, 17 Sep 2018 08:08:00 GMT



Tulsa World editorial: Allow Oklahoma cities access to property tax funding for public safety

Oklahoma's two major candidates for governor can see the logic of allowing city governments to use property tax money for operating expenses. Kevin Stitt, the Republican nominee, told the Oklahoma Mun...

Published:  Sat, 15 Sep 2018 22:32:00 GMT



Sarasota City Commission gives final OK to budget, tax rate hike

SARASOTA - A split Sarasota City Commission on Monday gave final approval of the city budget, which includes a property tax rate increase two commissioners have frequently condemned. The commission in ...

Published:  Mon, 17 Sep 2018 19:37:00 GMT



Medical marijuana ordinance OK'd

The ordinance amended Parts 7, 9, and 10 of the code of the city of Dewey and provided regulations for establishment of retail medical marijuana dispensaries, growing marijuana for personal use, ident...

Published:  Tue, 18 Sep 2018 07:31:00 GMT



Tax Reform Spurs a Doubling of This Texan's Business

"The tax reform took our taxes from 34 percent down to 21 percent ... [and] we have opened a new branch in Oklahoma City. In the last two years, our sales have doubled; it went up 50 percent a year ag...

Published:  Wed, 12 Sep 2018 08:04:00 GMT



Hamilton: A colossal waste of tax dollars

In Oklahoma City, for example ... This is a colossal waste of tax dollars. November's general elections afford an excellent opportunity to question current and future lawmakers about where ...

Published:  Thu, 13 Sep 2018 19:51:00 GMT



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