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At least 35 percent of U.S. adults have a debt in collections, according to a study (pdf) released Tuesday by the Urban Institute in conjunction with Encore Capital Group's Consumer Credit Research Institute.
This amounts to 77 million people with credit histories, according to a random sampling of 7 million credit files from 2013.
The study measured collections for non-mortgage bills that are allegedly past due, which can include medical costs, electricity and water payments, and even parking tickets. Those taken to collections owed an average of $5,200, the study finds.
Caroline Ratcliffe, a senior fellow at the Urban Institute, said in a press statement that collections debt "is pervasive and threads through nearly all communities." She added, "Delinquent debt can harm credit scores, which can tip employers' hiring decisions, restrict access to mortgages, and even increase insurance costs."
Nevada topped the charts, with 47 percent of its population taken to collections. Collections debts were heavily concentrated in the South, as well as Washington, DC.
The findings do not represent the approximately 22 million adults with no formal credit histories, who are disproportionately low-income.
Trump and Musk are on an unconstitutional rampage, aiming for virtually every corner of the federal government. These two right-wing billionaires are targeting nurses, scientists, teachers, daycare providers, judges, veterans, air traffic controllers, and nuclear safety inspectors. No one is safe. The food stamps program, Social Security, Medicare, and Medicaid are next. It’s an unprecedented disaster and a five-alarm fire, but there will be a reckoning. The people did not vote for this. The American people do not want this dystopian hellscape that hides behind claims of “efficiency.” Still, in reality, it is all a giveaway to corporate interests and the libertarian dreams of far-right oligarchs like Musk. Common Dreams is playing a vital role by reporting day and night on this orgy of corruption and greed, as well as what everyday people can do to organize and fight back. As a people-powered nonprofit news outlet, we cover issues the corporate media never will, but we can only continue with our readers’ support. |
At least 35 percent of U.S. adults have a debt in collections, according to a study (pdf) released Tuesday by the Urban Institute in conjunction with Encore Capital Group's Consumer Credit Research Institute.
This amounts to 77 million people with credit histories, according to a random sampling of 7 million credit files from 2013.
The study measured collections for non-mortgage bills that are allegedly past due, which can include medical costs, electricity and water payments, and even parking tickets. Those taken to collections owed an average of $5,200, the study finds.
Caroline Ratcliffe, a senior fellow at the Urban Institute, said in a press statement that collections debt "is pervasive and threads through nearly all communities." She added, "Delinquent debt can harm credit scores, which can tip employers' hiring decisions, restrict access to mortgages, and even increase insurance costs."
Nevada topped the charts, with 47 percent of its population taken to collections. Collections debts were heavily concentrated in the South, as well as Washington, DC.
The findings do not represent the approximately 22 million adults with no formal credit histories, who are disproportionately low-income.
At least 35 percent of U.S. adults have a debt in collections, according to a study (pdf) released Tuesday by the Urban Institute in conjunction with Encore Capital Group's Consumer Credit Research Institute.
This amounts to 77 million people with credit histories, according to a random sampling of 7 million credit files from 2013.
The study measured collections for non-mortgage bills that are allegedly past due, which can include medical costs, electricity and water payments, and even parking tickets. Those taken to collections owed an average of $5,200, the study finds.
Caroline Ratcliffe, a senior fellow at the Urban Institute, said in a press statement that collections debt "is pervasive and threads through nearly all communities." She added, "Delinquent debt can harm credit scores, which can tip employers' hiring decisions, restrict access to mortgages, and even increase insurance costs."
Nevada topped the charts, with 47 percent of its population taken to collections. Collections debts were heavily concentrated in the South, as well as Washington, DC.
The findings do not represent the approximately 22 million adults with no formal credit histories, who are disproportionately low-income.