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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.

 

Martin Shain pleads guilty to tax evasion in Oregon tax credit case

SALEM -- A Seattle-based energy consultant pleaded guilty Wednesday to evading income taxes on the $1.3 million in commissions he collected from brokering tax credits with the help of a former manager at the Oregon Department of Energy. Martin Shain ...

Published:  Wed, 16 May 2018 15:03:00 GMT



Editorial: Oregon should ban taxes and fees on groceries

New taxes are as popular as a yellow jacket buzzing the baby's crib. But some Oregon legislators don't know when to quit. They have even tried to put new taxes on essentials such as food. Most states, at least, exempt food from sales taxes. Oregon ...

Published:  Tue, 15 May 2018 15:10:00 GMT



Oregon Governor's Tax Proposal Faces Criticism From All Sides

Oregon Gov. Kate Brown has said she's calling a special session next week to correct a simple matter of unfairness in state tax policy. But the first public hearing on Brown's proposal Wednesday suggested debate could be anything but simple. In a ...

Published:  Wed, 16 May 2018 21:13:00 GMT



Other views: Will Oregon tax plan lead to mischief

We're just a couple of weeks away from May 21, the date when Gov. Kate Brown has summoned legislators for a one-day special session to consider her proposal for lower tax rates for some small businesses. For fans of political posturing, this special ...

Published:  Wed, 09 May 2018 14:21:00 GMT



Oregon gubernatorial candidates on climate policy

It would look like a broad-based, revenue-neutral carbon tax. (That) would have fewer unintended effects because you don't concentrate it just on the tradable sector and the economy can absorb it without disadvantaging and making Oregon products ...

Published:  Thu, 10 May 2018 16:54:00 GMT



Oregon could claw back $1 million tax credit from failed sawmill

Oregon's tax and economic development agencies are trying to determine a response after the owners of a shuttered Southern Oregon sawmill missed a May 3 deadline to return or reinvest $1 million in taxpayer incentives. Rough & Ready mill reopened in 2014 ...

Published:  Fri, 11 May 2018 08:37:00 GMT



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