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      May 25, 2018

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Debt Consolidation in Pennsylvania

Pennsylvania MapPennsylvania is the 6th most populous state in the US, with many of their residents living in one of the three major cities, Philadelphia, Pittsburgh and Allentown. It was one of the 13 original founding states of the United States, and today it's citizens continue to be more financially responsible than the national average. Ranked 8th out of the all of the states for positive credit health, most residents of Pennsylvania are able to enjoy smaller mortgages, lower rates of credit card debt and generally more financial stability. However, as with all highs and success stories there will always be some lows or pitfalls, and Pennsylvania is not completely free from the burden of debt.

Credit card debt throughout the state has mimicked a roller coaster ride over recent years, but even so it has never reached or exceeded the national average of $2820. When reaching their peak balance on plastic spending at $3,350, the issue was quickly addressed and the total spending rapidly reduced over four years by 19%. Another debt that is lower in Pennsylvania than that of its national counterpart is household mortgage. This is a type of debt that can always be included in debt consolidation to great benefits and to further reduce the pressure of loan repayments. Statistics suggest that Pennsylvanians actually have a mortgage obligation that is lower than that of the average American by $9000. However, this significant sum may be a result of previous high foreclosure rates that could be marring the figures.

One of the earlier mentioned pitfalls of Pennsylvania's financial status is that of student loan debt. Where the average student debt across America is $3,750, the state norm is rather large at $4460, a massive 20% more. However, this significant difference can be explained by the higher percentage of young Pennsylvanians who hold college degrees, compared to the percentage of the same age people with similar qualifications across the nation. Residents of Pennsylvania may find that through combining their student loans with any other outstanding balances through debt consolidation, their burden can be reduced.

 

The soda tax and the Great Depression: The 1932 law that forever changed Philly's taxes

The law took center stage before the Pennsylvania Supreme Court recently, as the justices heard oral arguments on the city's tax on soda and other sweetened beverages. Opponents of the tax argued that it violated the Sterling Act because ultimately the ...

Published:  Thu, 24 May 2018 16:11:00 GMT



The Trump tax cuts just became an issue in the Pa. Governors race | Wednesday Morning Coffee

Good Wednesday Morning, Fellow Seekers. If there's one thing we know about Gov. Tom Wolf, it's that the York County Democrat has been frustrated in his four-year effort to impose a severance tax on natural gas drillers. And if there's one thing we know ...

Published:  Wed, 23 May 2018 04:27:00 GMT



Closure of tax "loophole' touted as path to bringing in $20 million to promote Pennsylvania tourism

Pennsylvania imposes a 6 percent hotel occupancy tax when you rent a room. So if you were to rent a $100 room online, you'd see an extra $6 added to your bill, plus other taxes and fees depending on the locale. If you rented through the hotel's website ...

Published:  Wed, 23 May 2018 07:15:00 GMT



Pa.'s Tax On Sport Betting Is Highest In The Nation, Unlikely To Deter Casinos

PITTSBURGH (KDKA) - When sports betting comes to Pennsylvania, at least for the casinos, this state will have the highest tax rate in the nation. "It's not even close," says Prof. Chuck Berry, who teaches sports entertainment at Point Park University.

Published:  Fri, 18 May 2018 17:06:00 GMT



Taxes too high Pa. residents could move to Wyoming, South Dakota, or Alaska | Opinion

The states are often referred to as laboratories of democracy, and the more laboratories we have, the more likely we are to come across a Frankenstein over the long haul. It's pretty clear that Dr. Frankenstein has been hard at work at this point, and we ...

Published:  Mon, 21 May 2018 02:00:00 GMT



Pennsylvania's Supreme Court To Hear Arguments In Soda Tax Case

The beverage industry is challenging a 1.5 cent per ounce tax on sweetened drinks imposed in Philadelphia. Officials argue the tax is a good strategy to help combat childhood obesity. DAVID GREENE, HOST: All right, Pennsylvania's Supreme Court is going to ...

Published:  Tue, 15 May 2018 02:06:00 GMT



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