Alert Net – by Lynn Stuart Parramore
A new study by the Urban Institute says that over 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies. This means the bill is so overdue (generally at least 180 days) that the account has been closed and placed in collections.
That comes to 77 million souls who face the sleepless nights and anxiety that comes from an inability to meet debt obligations. These citizens owe an average of $5,178 each (median $1,349).
It’s happening to us in all walks of life. Continue reading “Debtor Nation: 35 Percent of Americans Owe Bills to Collection Agencies”