MIAMI–A new analysis ranks U.S. states according to levels of loan delinquencies.
To highlight the places where people are having the most trouble paying their debts, WalletHub said it analyzed proprietary user data from Q1 2024 for the 50 states.
In creating the ranking, WalletHub said it considered both the percentage of individual tradelines that were delinquent, as well as the percentages of residents’ total loan balances that were delinquent.
Mississippi at Top of List
“Mississippi has the biggest debt delinquency problem. Around 12.7% of individual loans and lines of credit in the state were delinquent in Q1 2024, the highest percentage in the country,” WalletHub reported. “Mississippi doesn’t just lead the country in the percentage of delinquent accounts, though – it’s important to also look at the overall amount of debt that’s delinquent to get the full picture. When all the dollar amounts are added together, Mississippi residents are actually delinquent on 10.9% of their overall debt. That is also the highest percentage in the country.”
The top 12 states are listed below. The full report can be found here.
How to Sign Up For the Best Daily News Email in Credit Unions? (It’s Free!)
Every workday CUToday.info delivers the most comprehensive, freshest daily newsletter with the day’s news headlines, including links to the related articles. The Fresh Today newsletter is the most timely, relevant and widely-read source of news and information in the CU community. And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties,
And did we mention it’s free?