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July 30, 2014

Study: 35% in U.S. facing debt collectors

  • The delinquent debt is overwhelmingly concentrated in Southern and Western states. In several cities in Texas almost half of the population has been reported to collection agencies.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

    These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects, said Caroline Ratcliffe, a senior fellow at the Washington-based think tank.


     
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