According to a study released on July 29, 35 percent of Americans have a debt in collections, a Detroit Free Press article stated.
In the analysis conducted by Urban Institute, it was found that many Americans had trouble paying debts on time. People plagued by debts were concentrated primarily in the southern region of U.S. and the majority of debts were related to mortgages. According to financial analyst Greg McBride, many Americans may actually be unaware of the debt they owe, causing their credit score to suffer despite otherwise good financial behaviors. The 77 million people who have had debt turned to collections in the U.S. average a debt of $5,200.
If you are overwhelmed with debts, there may be a legal solution that can bring you back to stable footing. Cincinnati-based attorney Ryan J. Ruehle, LLC, is dedicated to helping people like you regain financial stability. Find out how he may work for you by calling (513) 621-0999 today.