HOUSTON – It happens to the best of us—and when it does, it’s easy for us to say ‘mind ya business,’ but it has to be addressed.
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A recent study by WalletHub looked at states with the “Most Collections Accounts,” where researchers looked at debt that has gone unpaid for such a long period.
They examined several factors, including Collection Accounts Status as well as Change in Average Collection Accounts. WalletHub researchers ultimately narrowed their findings to show Texas had the second most collection accounts.
The Lone Star State also ranks around the middle when it comes to recent increases in the number and size of collection accounts. Researchers also found the “average” balance per account is around $1,403, which is “the 17th highest in the country.”
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Wyoming had the state with the most collection accounts. Surprisingly, New York had the fewest collection accounts.
To see the full report by WalletHub and how other states compared, click here.