While the mere mention of Las Vegas brings up thoughts of casinos and partying that is as far from conducive to families as possible, there is a city in Vegas Valley that has the suburban vibe many want – Henderson City. It is known, in contrast to the Las Vegas Strip, for good schools and low crime rates. In fact, it has been named “One of the best cities to live in America” by Bloomberg Businessweek. It has plenty of family events and community centers, which adds to its warm and family-friendly vibe. Although it still has lots of entertainment places and some casinos, it is a far cry from the actual Strip.
Economy and financial situation
This mix of suburban ambience and modern entertainment does not cost as high as other states. It’s cost of living is right around the national average. Housing, for instance, have an average purchase price of around $265,000 per unit. You would be paying more, though, if you want it in an installment basis. Monthly housing mortgage is at $1,616, and rental prices are also quite steep at $1,144 per month, according to the U.S. Census Bureau. Poverty rate is a little low at 9.8%, and the per capita income is on the high side at $33,428, so a lot of its residents are doing well financially. Still, every city has residents that are not as fortunate, and for them, loans and debts are one of the go-to options to augment their salaries.
How can debt consolidation help less fortunate residents?
For those who have multiple debts, making timely payments is the biggest challenge. Aside from the money that you will have to have, it is difficult to track which debt is due if you are also busy with work. This is where debt consolidation can come in handy. If you have a good credit standing, you can acquire a new loan to pay off your other loans, so that you would just have to worry about a single monthly payment. You would also likely get better terms and lower interest rates with this new loan, which is a big help in alleviating the stress and pressure of monthly payments.
Is debt consolidation legal?
Debt consolidation is definitely legal and allowed, although there might be laws that govern how you implement it. For example, debtors are protected from abusive collection process through the Fair Debt Collection Practices Act. At the same time, it is also legal for creditors to file lawsuits to debtors that refuse to pay their debts. It is best, therefore, to research first about debt consolidation and even seek advice from a lawyer so you would know how best to utilize this debt management tool.