A disturbing new study from the
Urban Institute reveals that one out of every 20 American adults on file
with credit reporting agencies has at least one debt that is between 30
and 180 days past due, and that more than one in three has had a debt
sent to a collections agency within the past seven years.
Lead author Caroline Ratcliffe, a
senior fellow at the Urban Institute, and her team of co-authors
analyzed seven million credit reports from the TransUnion credit bureau
and found that while credit troubles are most common in the Deep South
and in Southwestern states, delinquency is a problem almost everywhere
in the country.
“They are stunning numbers,” Ratcliffe said. “Debt in collections is pervasive, and it threads through nearly all communities.”
A
disturbing new study from the Urban Institute reveals that one out of
every 20 American adults on file with credit reporting agencies has at
least one debt that is between 30 and 180 days past due, and that more
than one in three has had a debt sent to a collections agency within the
past seven years.
Lead author Caroline Ratcliffe, a senior fellow at the Urban Institute, and her team of co-authors analyzed seven million credit reports from the TransUnion credit bureau and found that while credit troubles are most common in the Deep South and in Southwestern states, delinquency is a problem almost everywhere in the country.
Related: Credit Score Change Could Set up Consumers to Fail
“They are stunning numbers,” Ratcliffe said. “Debt in collections is pervasive, and it threads through nearly all communities.”
- See more at: http://www.thefiscaltimes.com/Articles/2014/08/13/Study-Finds-Americans-Plagued-Outstanding-Debt#sthash.6a4CE8jr.dpuf
Lead author Caroline Ratcliffe, a senior fellow at the Urban Institute, and her team of co-authors analyzed seven million credit reports from the TransUnion credit bureau and found that while credit troubles are most common in the Deep South and in Southwestern states, delinquency is a problem almost everywhere in the country.
Related: Credit Score Change Could Set up Consumers to Fail
“They are stunning numbers,” Ratcliffe said. “Debt in collections is pervasive, and it threads through nearly all communities.”
- See more at: http://www.thefiscaltimes.com/Articles/2014/08/13/Study-Finds-Americans-Plagued-Outstanding-Debt#sthash.6a4CE8jr.dpuf
A
disturbing new study from the Urban Institute reveals that one out of
every 20 American adults on file with credit reporting agencies has at
least one debt that is between 30 and 180 days past due, and that more
than one in three has had a debt sent to a collections agency within the
past seven years.
Lead author Caroline Ratcliffe, a senior fellow at the Urban Institute, and her team of co-authors analyzed seven million credit reports from the TransUnion credit bureau and found that while credit troubles are most common in the Deep South and in Southwestern states, delinquency is a problem almost everywhere in the country.
Related: Credit Score Change Could Set up Consumers to Fail
“They are stunning numbers,” Ratcliffe said. “Debt in collections is pervasive, and it threads through nearly all communities.”
- See more at: http://www.thefiscaltimes.com/Articles/2014/08/13/Study-Finds-Americans-Plagued-Outstanding-Debt#sthash.6a4CE8jr.dpuf
Lead author Caroline Ratcliffe, a senior fellow at the Urban Institute, and her team of co-authors analyzed seven million credit reports from the TransUnion credit bureau and found that while credit troubles are most common in the Deep South and in Southwestern states, delinquency is a problem almost everywhere in the country.
Related: Credit Score Change Could Set up Consumers to Fail
“They are stunning numbers,” Ratcliffe said. “Debt in collections is pervasive, and it threads through nearly all communities.”
- See more at: http://www.thefiscaltimes.com/Articles/2014/08/13/Study-Finds-Americans-Plagued-Outstanding-Debt#sthash.6a4CE8jr.dpuf
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