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      September 19, 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.

 

Try again to seal up N.J.-Pa. income tax deal | Editorial

There's no immediate threat to the reciprocal state income-tax deal that protects middle-class New Jersey residents who work in Pennsylvania, but there's disappointment around these parts that Gov. Ph...

Published:  Thu, 06 Sep 2018 08:58:00 GMT



Here's why an overhaul of Pennsylvania's tax structure is overdue, new report says

Pennsylvania's economic competitiveness is hamstrung by its tax structure and, while there have been positive changes over the past decade, the commonwealth's steps have been outpaced by more signific...

Published:  Thu, 06 Sep 2018 11:36:00 GMT



Proposed school tax reduction bill discussed

An amendment to the 2006 Pennsylvania Taxpayer Relief Act, HB 2329 proposes to replace school taxes on properties with a public education tax raising the state personal income tax from its current 3.0...

Published:  Sat, 08 Sep 2018 15:13:00 GMT



Reports: Pennsylvania is friendly to early retirees, but larger cities' tax policies may erode state's advantage

Pennsylvania is famously a hard-working state, the historic home of the steel industry and generations of coal miners. Now, according to a couple of recent reports, it appears that Pennsylvania is als...

Published:  Fri, 07 Sep 2018 09:28:00 GMT



PA11: Smucker 1st TV Ad Boasts Medicare and Tax Reform

Starting with Medicare and tax reform. Rep. Lloyd Smucker (R-Lancaster) released his first television ad of the general election cycle. The thirty second ad focuses on his connection to the district a...

Published:  Wed, 19 Sep 2018 07:46:00 GMT



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