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Debt Consolidation in Tennessee

Tennessee MapPaying off debt is no easy task and is one that requires time and most importantly expendable income. Unfortunately, the longer it takes to pay off a debt, the more you end up paying in interest and before you know it you can find yourself with a growing mountain of bills. During the recession, which hit Americans hard and came more or less out of the blue, many households found themselves taking a cut in wages or in the worse cases unexpectedly losing their jobs all together. For established households with monthly bills, children to feed and mortgages to pay the affect was catastrophic. Debt consolidation benefited many people across the country, helping them through the hardest times. The gravity of the situation was felt all over the country and Tennessee was no exception.

According to surveys and reports from USA Today, the average Tennessee household owes $42,378 in personal debt. While this figure seems like an incredible amount of debt to allow to build-up, it is worth considering that this figure is significantly below the national average of $53,850. This total is an amalgamation of a wide variety of amounts and types of debt, typically including mortgages, auto loans and credit card bills, but of course every household is different. It is generally believed that approximately 70% of personal debt is the mortgage, which some experts believe shouldn?t be counted as negative debt at all, as it is a form of loan that benefits each homeowner in the long run. It's also worth remembering that any household or individual resident of Tennessee with numerous kinds of debt may be able to take advantage of debt consolidation, which allows all existing loans and debts to be grouped together and treated as one lump sum. The primary benefit of this is that it often means reduced monthly payments.

Quality of life in Tennessee is considered to be high, with the mild climate, low cost of living and excellent variety of city, small town and farm life. Approximately 44% of Tennessee is farmland and as such agriculture is a very important part of the economy. The top revenue generators in the agriculture sector include beef cattle, chickens, soy bean products and cotton. The manufacturing of raw products such as those mentioned as well as a great deal more livestock and crops generate further income for the state Tennessee.

 

No income tax is growing economic advantage for Tennessee, governor says

The lack of a state income tax in Tennessee is helping to lure more people and businesses to the Volunteer State, especially since the federal tax reforms adopted a year ago limit some of the tax exem...

Published:  Thu, 08 Nov 2018 19:13:00 GMT



Auto Repairman Indicted for Tax Evasion and Theft

COVINGTON, Tenn. (AP) - Tennessee Department of Revenue investigators say an auto repair and towing company owner has been indicted on charges he failed to remit collected sales tax and falsified vehi...

Published:  Thu, 08 Nov 2018 01:17:00 GMT



Ole Smoky Moonshine, other Tennessee whiskey makers moody over Trump tariff tiff

(MORE: Blackburn says 'angry mob' interrupted rally in Tennessee with Lindsey Graham) Democratic nominee Phil Bredesen has called the tariffs "a tax on Tennessee" and said, "The effect of these ...

Published:  Fri, 02 Nov 2018 01:40:00 GMT



Tennessee governor candidates sound off on guns, income tax & honesty

Tennessee gubernatorial candidates Republican Businessman Bill Lee and Democratic former Nashville Mayor Karl Dean answered viewer questions on FOX 17 News This Morning on Friday. Each candidate ...

Published:  Fri, 02 Nov 2018 07:33:00 GMT



Grocer's group wants 'statewide standards' on plastic bag tax

As the City of Memphis weighs a tax on plastic bags, the head of the Tennessee Grocers and Convenience Store Association (TGCSA) said the industry would prefer a statewide set of rules rather than "a ...

Published:  Mon, 05 Nov 2018 11:10:00 GMT



Study ranks Tennessee counties for largest tax refunds

Each tax season, Americans across the country are refunded for any taxes they overpaid for during the year. Financial technology company SmartAsset released a study on the counties in Tennessee where ...

Published:  Wed, 07 Nov 2018 09:37:00 GMT



209 cases worth N6tn pending at tax tribunal - FG

About 209 cases worth over N6tn are currently pending at the various zones of the Tax Appeal Tribunal across the country. The Permanent Secretary, Ministry of Finance, Mahmoud Dutse, said this at ...

Published:  Mon, 05 Nov 2018 20:38:00 GMT



UAE to launch tax refund scheme for tourists on Nov 18

Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the Board of the Federal Tax Authority, FTA, has set out the implementation dates for phases one and tw...

Published:  Mon, 12 Nov 2018 14:07:00 GMT



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