Research Report Delinquent Debt in America
Caroline Ratcliffe, Signe-Mary McKernan, Brett Theodos, Emma Cancian Kalish, John Chalekian, Peifang Guo, Christopher Trepel
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Roughly 77 million Americans, or 35 percent of adults with a credit file, have a report of debt in collections. These adults owe an average of $5,178 (median $1,349). Debt in collections involves a nonmortgage bill, such as a credit card balance or medical or utility bill, that is more than 180 days past due and has been placed in collections. 5.3 percent of people with a credit file have a report of past due debt, indicating they are between 30 and 180 days late on a nonmortgage payment. Both debt in collections and debt past due are concentrated in the South.
Research Areas Economic mobility and inequality Wealth and financial well-being
Tags Asset and debts Income and wealth distribution Financial stability Family credit and debt
Policy Centers Center on Labor, Human Services, and Population