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.
South Carolina
South Carolina received an overall rank of eleven by WalletHub. It is ranked thirteenth in the average number of accounts in distress and eighth in the number of people with accounts in distress. The Palmetto state’s Credit Score rank is forty, and its total score is 47.44.
Oklahoma
Oklahoma received an overall rank of twelve by WalletHub. It is ranked twentieth in the average number of accounts in distress and eighteenth in the number of people with accounts in distress. The Sooner state’s Credit Score rank is thirty-five, and its total score is 44.85.
Florida
Florida received an overall rank of thirteen by WalletHub. It is ranked fifteenth in average number of accounts in distress and thirteenth in people with accounts in distress. The Sunshine State’s Credit Score rank is three, and its total score is 44.64.
Kentucky
Kentucky received an overall rank of fourteen by WalletHub. It is ranked ninth in the average number of accounts in distress and sixth in the number of people with accounts in distress. The Bluegrass state’s Credit Score rank is thirty-nine, and its total score is 44.46.
South Dakota
South Dakota received an overall rank of fifteen by WalletHub. It is ranked twenty-six in average number of accounts in distress and twenty-eight in people with accounts in distress. The Mount Rushmore state’s Credit Score rank is forty-two, and its total score is 43.19.
Delaware
Delaware received an overall rank of sixteen by WalletHub. It is ranked twenty-eight in the average number of accounts in distress and twenty-three in the number of people with accounts in distress. The First state’s Credit Score rank is seventeen, and its total score is 43.15.
Alabama
Alabama received an overall rank of seventeen by WalletHub. It is ranked forty-four in average number of accounts in distress and twelve in people with accounts in distress. Nicknamed the Heart of Dixie, Alabama’s Credit Score rank is twenty-five, and its total score is 42.24.
Arizona
Arizona received an overall rank of eighteen by WalletHub. It is ranked thirty-one in average number of accounts in distress and twenty-seven in people with accounts in distress. The Grand Canyon state’s Credit Score rank is six, and its total score is 42.16.
West Virginia
West Virginia received an overall rank of nineteen by WalletHub. It is ranked sixth in the average number of accounts in distress and fourteenth in the number of people with accounts in distress. The Mountain State’s Credit Score rank is forty-three, and its total score is 42.12.
Illinois
Illinois received an overall rank of twenty by WalletHub. It is ranked seventh in average number of accounts in distress and eleventh in people with accounts in distress. The Prairie State’s Credit Score rank is thirty-four, and its total score is 41.78.
Missouri
Missouri received an overall rank of twenty-one by WalletHub. It is ranked nineteenth both in average number of accounts in distress and people with accounts in distress. The Show-Me state’s Credit Score rank is twenty-four, and its total score is 41.45.