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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.

 

Trump tax cuts trickle down to Pa. utility customers

The Pennsylvania Public Utility Commission on Thursday ordered a $320 million rate reduction for most of the state's electric, gas and water utilities on July 1 to reflect the lower federal tax rate that went into effect this year. The PUC, by a 5-0 vote ...

Published:  Thu, 17 May 2018 13:51:00 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



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



Will 34 Percent Pennsylvania Tax Stymie Sports Betting

True or false Pennsylvania will be one of the first states in which residents can place sports bets legally. The answer would seem to be a slam-dunk "true." Pennsylvania lawmakers certainly got ahead of the curve on sports betting by passing a law ...

Published:  Fri, 18 May 2018 07:07:00 GMT



High tax rates could keep sportsbooks out of Pennsylvania

With legislation passed in anticipation of a favorable Supreme Court ruling, Pennsylvania seemed poised to be one of the first states to take advantage of the decision to legalize sports gambling last Monday. Pundits still expect the region to be among the ...

Published:  Fri, 18 May 2018 21:53:00 GMT



Pa. Supreme Court hears arguments on Philly soda tax

Laura McCrystal covers everything about taxes, government revenue, and how such policies impact people in Philadelphia and beyond. She previously covered news in Montgomery County, including Bill Cosby's trial. HARRISBURG - Is Philadelphia's tax on ...

Published:  Tue, 15 May 2018 12:09:00 GMT



Pa. Supreme Court weighs 'artfully' written Philadelphia soda tax

What one Pennsylvania Supreme Court justice described as Philadelphia lawmakers' "artfully" crafted sugary sweetened beverage tax is facing its final legal test. Nearly two years after the Big Soda-backed lawsuit was filed against the city of ...

Published:  Tue, 15 May 2018 14:47:00 GMT



Pennsylvania's property tax rate 6th highest in U.S.

The average Pennsylvania homeowner pays 2.02 percent of their home value in taxes, according to an ATTOM Data Solutions analysis of property taxes levied on single family homes. Pennsylvania has 3.5 million single family homes with an average estimated ...

Published:  Fri, 18 May 2018 08:06:00 GMT



Philadelphia's Soda Tax Goes to Court: What You Need to Know

... whether to tax sodas and other sugar-sweetened beverages. On Tuesday, Pennsylvania's highest state court is set to hear a challenge by the American Beverage Association and others to the city's soda tax, which went into effect in January 2017.

Published:  Tue, 15 May 2018 09:00:00 GMT



Ahead of high court hearing, report shows soda tax revenue sinking

The Pennsylvania Supreme Court will weigh the legality of Philadelphia's beverage tax in a Tuesday hearing as new data show the city is drawing in less revenue from the controversial tax in its second year than in 2017. The city's monthly revenue ...

Published:  Tue, 15 May 2018 14:52:00 GMT



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