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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's November sales tax summary

The November sales tax report shows General Fund collections in Oklahoma City were up 13.7 percent compared to the same month last year, below the monthly projection by 2 percent. The November ...

Published:  Tue, 20 Nov 2018 10:29:00 GMT



Tax Tip Tuesday with Attorney Travis W. Watkins: Tax Evasion

Check out this week's Tax Tip Tuesday. The winner of the Oklahoma Readers' Choice Awards for Best Taxation Attorney, Principal and Senior Attorney with the firm, Travis W. Watkins talks about Tax ...

Published:  Wed, 21 Nov 2018 08:58:00 GMT



Internet Sales Tax Collections To Increase Dec. 1

Other states who have enacted similar online marketplace laws include Alabama, Arizona, Iowa, Minnesota, Oklahoma, Pennsylvania ... s Supreme Court ruling opens the door to allow states to tax virtual...

Published:  Wed, 21 Nov 2018 11:03:00 GMT



Oklahoma City: If a Democrat can make it there, she can make it anywhere

It wasn't just Trump's victory that was a motivator, but a myriad of other issues facing Oklahoma. That included a budget crisis fueled by deep tax cuts that had hit the state's already starved educat...

Published:  Wed, 21 Nov 2018 11:52:00 GMT



Lee: Oklahoma's friendship with higher natural gas prices

As witnessed above, even incremental increases in natural gas prices have a significant impact on tax revenues for the state while still providing the affordable energy resources Oklahoma ...

Published:  Wed, 21 Nov 2018 15:56:00 GMT



Oklahoma City sales tax growth slows, online surges to record

Local economic activity appeared to take a slight dip as summer turned to fall in Oklahoma City. Sales tax results for November show underlying economic growth of 1.1 percent locally, down from 3 ...

Published:  Mon, 12 Nov 2018 12:33:00 GMT



A tax-smart move for 70-somethings with extra money on their hands

Unlike garden-variety charitable donations, you can't any claim itemized deductions for QCDs. That's OK, because the tax-free treatment of QCDs equates to a 100% deduction - because you'll never be ta...

Published:  Wed, 14 Nov 2018 01:23:00 GMT



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