With the pandemic, recession, and technological advancements, many people are losing their jobs, and the economy is shifting. This has left many people in financial distress, unable to meet their basic needs.
According to a detailed survey by WalletHub, here is a list of twenty-one states with the Most People in Financial Distress.
Michigan
Michigan has the highest number of people in financial distress and received an overall rank of one by WalletHub. The state also has the highest number of accounts in distress and the second highest number of people with accounts in distress; this means the people are unable to pay their debts and bills.
The Wolverine State’s Credit Score rank is forty-four, and its total score is 59.91.
Texas
Texas has the second-highest number of people in financial distress. It is eleventh in the average number of accounts in distress and tenth in the number of people with accounts in distress. The Lone Star State’s Credit Score rank is four, and its total score is 56.15.
Nevada
Nevada has the third-highest number of people in financial distress. It is ranked eighth in the average number of accounts in distress and fifth in the number of people with accounts in distress. The Silver State’s Credit Score rank is five, and its total score is 55.15.
Tennessee
Tennessee received an overall rank of four from WalletHub. It is ranked third in both the average number of accounts in distress and the number of people with accounts in distress. The Volunteer State’s Credit Score rank is thirty-six, and its total score is 52.25.
Rhode Island
Rhode Island has the fifth-highest number of people in financial distress and the highest number of people with accounts in distress. The state is also ranked second in the average number of accounts in distress. The Ocean State’s Credit Score rank is nine, and its total score is 51.47.
Georgia
Georgia received an overall rank of six by WalletHub. It is ranked ninth in the average number of accounts in distress and seventh in people with accounts in distress. The Peach State’s Credit Score rank is seven, and its total score is 51.31.
Louisiana
Louisiana received an overall rank of seven by WalletHub. It is ranked fifth in the average number of accounts in distress and fourth in people with accounts in distress. The Pelican state’s Credit Score rank is twenty and its total score is 50.47.
North Carolina
North Carolina received an overall rank of eight by WalletHub. It is ranked fourteen in the average number of accounts in distress and fifteen in people with accounts in distress. The Tar Heel state’s Credit Score rank is sixteen and its total score is 49.66.
Mississippi
Mississippi received an overall rank of nine by WalletHub. It is ranked eighteenth in the average number of accounts in distress and sixteenth in the number of people with accounts in distress. The Magnolia state’s Credit Score rank is eleven, and its total score is 49.33.
New York
New York received an overall rank of ten by WalletHub. It is ranked thirty-fourth in average number of accounts in distress and twenty-ninth in people with accounts in distress. The Big Apple’s Credit Score rank is ten, and its total score is 49.25.
