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      February 19, 2019

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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.


Advocates Push for $2 Increase in Oregon's Tobacco Tax

SALEM, Ore. -- Cancer patients, survivors and others urged lawmakers Monday to increase taxes on cigarettes and tobacco products in an effort to fight cancer. The American Cancer Society Cancer Action ...

Published:  Mon, 18 Feb 2019 14:17:00 GMT

Oregon goes big on new Trump tax break

A new federal tax incentive intended to help low-income areas could put Oregon taxpayers on the hook for millions of dollars in incentives to downtown Portland developers and investors from across the ...

Published:  Sat, 09 Feb 2019 06:05:00 GMT

Oregon lawmakers may shift tax rebate to fund pensions

Oregon's lawmakers are weighing two options that would divert the state's "kicker" tax rebate to pay for pension liabilities or education. The state's taxpayers are on track to receive $724 million of ...

Published:  Thu, 07 Feb 2019 09:31:00 GMT

Cannabis retailers hit hard in Cuomo's tax idea

Higher-than-expected tax revenues were reported in Colorado, Washington and Oregon since legalization. In 2018, in public hearings statewide on implementation, representatives of the state Department ...

Published:  Mon, 18 Feb 2019 12:24:00 GMT

Oregon cigarette tax hike likely would have to go to voters

Smokers paying higher taxes would help buy health insurance for low-income Oregonians under a plan being advanced by Gov. Kate Brown. Brown is proposing tax increase of $2 a pack of cigarettes, curren...

Published:  Thu, 07 Feb 2019 18:22:00 GMT

Oregon's new tax confuses TurboTax

A new Oregon tax that kicked in last year has created problems for people using TurboTax to calculate their 2018 taxes. TurboTax claimed Tuesday it fixed the problem. One Oregon taxpayer said she cont...

Published:  Wed, 06 Feb 2019 21:04:00 GMT

Oregon State Senator Blames Tobacco Taxes For Eric Garner's Death

An Oregon state senator blamed the death of a black man choked by police officers in New York City on high tobacco taxes Thursday in an effort to convince his fellow lawmakers not to increase cigarett...

Published:  Thu, 07 Feb 2019 17:03:00 GMT

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