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WalletHub Ranks Michigan Residents No. 1 in Finacial Distress

Jul 18, 2024 | 12:35 PM


MICHIGAN, July 18, 2024 ~ A new financial analysis ranked Michigan residents as the most financially distressed people in the country.

In an analysis posted Wednesday, WalletHub looked at data such as average credit scores, the change in the number of bankruptcy filings between March 2023 and March 2024, and the share of people with credit accounts in distress, defined as accounts in forbearance or has its payments deferred. The finance company found that Michigan has the most accounts per person in financial distress.

PODCAST:

July 18, 2024 ~ WalletHub has announced the states with people in the most financial distress, and Michigan ranked number one. WalletHub writer Chip Lupo joins Kevin Dietz and Tom Jordan to discuss why Michigan ranked at the top of the list.

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