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      September 24, 2018

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Debt Consolidation in Oregon

Oregon MapWith its diverse landscape featuring beaches, waterfalls, lakes, mountains and forests, Oregon is a truly beautiful place for long-term residents and holidaymakers alike. Tourism however is only a small part of the states economy, which also consists of agriculture, technology, forestry and fisheries. By GDP (gross domestic product) Oregon is ranked the 26th wealthiest state in the nation. It was also recently ranked as the Americas 'Top Moving Destination', as studies revealed that twice as many families or households were opting to move into Oregon compared to those who were moving out. The population continues to increase and with it the standard of life improves while the economy grows.

Although the average personal income is over $44,000, Oregon boasts a fairly high unemployment rate of 6.7%. Despite having an economy based upon a wide range of areas, the state wasn’t immune to the affects of the recent financial crisis. In fact many individuals, not to mention local businesses, struggled to stay afloat. The dot-com bust also had large affect on the regions previously flourishing technology sector with many businesses forced into bankruptcy and nearly all having to make employee cut backs. It goes without saying that paying off existing debt is made significantly harder when income is decreased or lost completely. Debt consolidation allowed some people to reduce their monthly payments and get back on top of their debts and expenditures.

Oregon, just like the rest of the United States, has high amounts of personal debt. Households owe money in a number of different areas including credit cards and student loans. In fact the average amount of student debt owed by individuals in Oregon is a massive $24,000 with some graduates owing as much as $50,000 and even $100,000. These figures were featured in the Federal Reserve Bank of New York’s Household Debt and Credit Report, which also revealed that of all of the credit history bearing residents of Oregon, 17.1% had some form of student loan contributing to their overall personal debt.

As if that wasn’t enough stress to take on, most Oregon households are not dealing purely or even primarily with student debt but also have the mortgage, credit card bills and auto loans to pay in full and on time each and every month in order to prevent their credit history from being negatively affected. Through debt consolidation, however it is possible to combine all debts into one easily manageable solution. Through reducing payments in this way and with the improving economy, it is likely that Oregon residents will successfully fight their way out of their personal debt.


Campaign against Oregon tax initiative could face $11,900 elections penalty

The campaign against an initiative that would make it more difficult for Oregon lawmakers to trim tax breaks could be fined as much as $11,900 for campaign finance violations, according to the secreta...

Published:  Fri, 21 Sep 2018 22:21:00 GMT

Central Oregon businesses feel pinch from tariffs

The tariffs are supposed to protect and encourage U.S. based manufacturing, but even Central Oregon businesses that make their products ... Although Chinese tires will be subject to the new tax, Les S...

Published:  Sun, 23 Sep 2018 13:40:00 GMT

DA: Oregon's first legal pot proprietor sentenced for tax crimes

PORTLAND, OR (KPTV) - Oregon's first legal pot proprietor was sentenced Monday to seven months in federal prison and ordered to pay more than $262,000 for willfully failing to file federal income tax ...

Published:  Mon, 17 Sep 2018 20:54:00 GMT

Measure 104 will create tax accountability in Oregon Legislature

Measure 104 will create tax accountability in Oregon Legislature Writer believes supermajority amendment to state's constitution will force lawmakers to find bipartisan solutions to funding state gove...

Published:  Fri, 14 Sep 2018 16:53:00 GMT

Liz Weston: Rebalancing your portfolio Weigh the tax impact

Q: Is there a tax aspect to rebalancing your portfolio You've mentioned the importance of rebalancing regularly to reduce risk. A: Rebalancing is basically the process of adjusting your portfolio bac...

Published:  Sun, 23 Sep 2018 06:06:00 GMT

Legal Pot Business Owner Sentenced for Federal Tax Crimes

(AP) - A part-owner and operator of medical marijuana dispensaries in Oregon was sentenced to seven months in prison Monday, marking what a prosecutor called the country's first federal sentencing of ...

Published:  Mon, 17 Sep 2018 14:10:00 GMT

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