Posted 12/18/2023, 7:43:08 PM
Louisiana, Mississippi and Texas Top List of Most Financially Distressed States as Inflation Adds to Woes
- Louisiana, Mississippi, and Texas ranked as the top 3 most financially distressed states according to a WalletHub survey
- Louisiana has the highest percentage (11.6%) of people with credit accounts in forbearance due to financial hardship
- Mississippi has the lowest average credit score (634) and highest poverty rate (19%) nationally
- Texas saw a 21% surge in non-business bankruptcy filings in the past year
- Inflation has created a $2,440 average cumulative budget deficit over the past 2 years for middle-income families