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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.

 

Williamson preservationists lobbying for Tennessee historic tax credit

FRANKLIN - The Heritage Foundation of Williamson County is pushing for a new statewide tax credit that would encourage rehabilitation of historic structures across Tennessee. Right now, Tennessee is o...

Published:  Tue, 15 Jan 2019 09:57:00 GMT



MedEquities Realty Trust, Inc. Announces Tax Treatment Of 2018 Distributions

NASHVILLE, Tenn., Jan. 16, 2019 /PRNewswire/ -- MedEquities Realty Trust, Inc. (NYSE: MRT) today announced the tax treatment of its 2018 distributions to holders of its Common Stock. The following tab...

Published:  Wed, 16 Jan 2019 13:15:00 GMT



New proposed bill aims to eliminate tax on small TN gyms

NASHVILLE, Tenn. - A local lawmaker is trying to get rid of a tax placed on small gyms. Tennessee Senator Richard Briggs, who represents part of Knox County, recently introduced a bill that he said wo...

Published:  Mon, 14 Jan 2019 19:52:00 GMT



New bill aims to end fitness tax

MEMPHIS, TN (WMC) - Tennessee gyms are rallying together to oppose a relatively new tax that they say is unfair and unnecessary. Brooks Meadows is the founder of Recess gym in Midtown Memphis. He is a ...

Published:  Sat, 12 Jan 2019 14:54:00 GMT



Officials want historic preservation tax credit in place in Tennessee

According to the National Trust for Historic Preservation, there is no historic tax credit in place in Tennessee to help revitalize main street communities, create jobs and put vacant historic buildin...

Published:  Fri, 11 Jan 2019 14:52:00 GMT



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