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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.

 

Pennsylvania casinos took in $16 million in sports bets in Dec. How much did state make in taxes

Three Pennsylvania casinos generated $2 million of revenue on $16.2 million in sports bets wagered in December, the first full month of sports wagering in the state, the Pennsylvania Gaming Control Bo...

Published:  Thu, 17 Jan 2019 13:55:00 GMT



County talks hotel tax increase, seeks even playing field

Pennsylvania Act 109 of 2018 determined that outside booking agents' accommodation fees should be taxed the same as hotels, but the county is still looking to the state to determine how those taxes sh...

Published:  Thu, 17 Jan 2019 15:47:00 GMT



St. Luke's tax-exempt status challenged by Stroudsburg School District

St. Luke's owns and operates the hospital and two other medical facilities, all with tax-exempt status, in the Stroudsburg School District area, which covers Stroudsburg Borough and Stroud and Hamilto...

Published:  Thu, 17 Jan 2019 16:46:00 GMT



New Pennsylvania Sales Tax Rules for Out-Of-State Sellers

The Pennsylvania Department of Revenue ("DOR" ) has adopted new rules explaining when out-of-state sellers are required to collect Pennsylvania sales tax on sales to Pennsylvania buyers. The new rules ...

Published:  Wed, 16 Jan 2019 07:27:00 GMT



Pennsylvania Lawmakers Consider Property-Tax Swap Bill

The Pennsylvania House of Representatives' Finance Committee is considering a bill that would amend the state's Taxpayer Relief Act of 2006 to eliminate the property tax collected by school districts ...

Published:  Wed, 16 Jan 2019 11:59:00 GMT



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