Economy

The number of people for whom their financial situation has worsened is outpacing the number of people for whom their financial situation has improved two-to-one, according to data released following a nationwide poll. The number of people who said their financial situation has gotten worse is up to 37%, from …

The average amount of medical debt carried by individuals — regardless of whether they have health insurance or not — is nearly $22,000 and is impacting what are known as the Social Determinants of Health (SDOH) — essentially the ability to be able to afford food and somewhere to live. …

The amount that is used as the threshold for an “emergency” expense is likely a lot higher than people have been using, and that could be bad news for companies in the accounts receivable management space. Economists — and even the Federal Reserve Board — has used $400 as the …

The number of individuals across the country with past-due medical debts has remained the same since 2015, despite an increase in cost-sharing with employers, according to research that was published by the Employee Benefit Research Institute. The Data: Roughly 22% of adults had a past-due medical debt in 2021, compared …

“Plumes of smoke” in the form of rising delinquency rates are starting to rise through the ranks of the credit card sector, but whether that smoke will turn to fire and lead to more defaults and placements within the accounts receivable management industry is still too early to determine. The …

Nearly three-quarters of Millennials are carrying non-mortgage debt, with the average member of that generation owing $117,000, according to the results of a recently released survey. Driving the News: Two-thirds of Millennials are carrying credit card debt, following by student loans (48%), personal loans (42%), medical debt (42%), and auto …

Individuals living in the 13 states that make up the Appalachian region are more likely to have medical debt than individuals living in the rest of the United States and those with medical debts have double the delinquency rates on other credit products, according to a research report issued yesterday …

Individuals with higher incomes are likely to get more bang for their buck following last week’s announcement that individuals making under $125,000 are eligible to have up to $20,000 of their outstanding student loan debt forgiven, but lower income households are more likely to have all of their debts forgiven, …

The high cost of healthcare has a lot of Americans making difficult choices, and many are choosing to cut back on driving, eating, and keeping their lights on to cover their medical debts, according to the results of a nationwide poll. Nearly 100 million Americans — 38% of all adults …

Companies in the accounts receivable management industry that collect on unpaid utility debts should be preparing for a “tsunami of shutoffs” and those that do not collect this type of debt may want to consider doing so, following a series of published reports that spotlight just how many people are …