11 percent of Americans are in Financial Trouble: Study
Tap to Call - (877) 250-8242

Eleven percent of Americans in Financial Trouble for the First Time


Share this article



Eleven percent of Americans in financial trouble for the first time

The financial and consulting firm Deloitte has recently revealed the results of a survey the company conducted, which shows that 11 percent of Americans with bank accounts can be classified as 'first-time defaulters'. These consumers have experienced financial difficulties like delinquency, foreclosure or bankruptcy for the first time recently.

In total, 22 percent of Americans experienced some 'negative credit experience', which includes events ranging in severity from delinquency to bankruptcy. Half of these people had never experienced such an event before, according to a recent release. Medical bills, credit card bills, mortgages and taxes were reportedly among the expenses the respondents had the most difficulty with.

Among the reasons given by survey respondents for their new-found financial woes, unemployment and reduced income were the most common.

The Labor Department recently released data indicating that the nationwide unemployment rate had risen to 9.8 percent in November, an increase from October's 9.6 percent rate.

Back to Newspaper Home

Tap to Call - (877) 250-8242

Copyright © 2018 MH Sub I, LLC. All rights reserved. ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.Your use of this website constitutes acceptance of the "Terms & Conditions", "Supplemental Terms", "Privacy Policy" and "Cookie Policy."