41% WEST VIRGINIAN'S HAVE DEBTS IN COLLECTION

(07/31/2014)

West Virginia has some of the most delinquent borrowers in the USA, according to a new Urban Institute national survey about consumers' past-due debt. The debt problem should not be a surprise, with Mountain State residents having among the lowest per capita and medium incomes in the nation. West Virginia ranks ninth among states with the most delinquent borrowers, mostly healthcare debt at 40%. The Urban Institute report found that 41.5 percent of West Virginia consumers had a debt in collection, with an average amount in collection of $4,697. Most is for healthcare. Alabama, Kentucky, Georgia, Louisiana, Texas, Mississippi, South Carolina and Washington, D.C., were among the places with higher rates of debt in collection. Nevada topped the list among states, with 46.9 percent of consumers having a debt in collection. A separate Urban Institute report found West Virginians on average had the second lowest amount of total household debt, including mortgage and non-mortgage debt, at $33,970. That was well below the national average was $53,850.

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