Collection accounts stay on a person’s credit report for seven years and can cause significant credit score damage, and increases in collection accounts in a state indicate that people are having trouble paying their bills.
To identify where Americans’ financial futures are most in jeopardy, the personal-finance website WalletHub today released its updated report on the States With the Most Collection Accounts.
New York Stats
- Overall Rank: 47th
- Average No. of Collection Accounts per Resident in Collections in Q3 2024: 2.58
- Average Balance per Collection Account in Q3 2024: $1,384.17
- % Change in Average No. of Collection Accounts per Resident in Collections (Q3 2024 vs. Q2 2024): -1.23%
- % Change in Average Balance per Collection Account (Q3 2024 vs. Q2 2024): -3.81%
For the full report, please visit:
https://wallethub.com/edu/states-with-the-most-collection-accounts/134307.
