Politics & Government
Detroiters Among Nation's Worst In Making Debt Payments: Report
Detroit is the second-most delinquent large city in the nation, according to the study.
DETROIT — A new report shows Detoriters are among the nation's worst in staying caught up on debt payments.
Detroit is the second-most delinquent large city in the nation, with 14.8 percent of residents behind all their loans and lines of credit, according to a WalletHub study.
"Being delinquent on debt can significantly damage a person’s credit score and make it more difficult to get a credit card, rent apartments, or buy cars and homes in the future. People who miss a loan payment should try to get current as quickly as possible. The good news is that for many types of debt, borrowers have at least 30 days before delinquency gets reported to the credit bureaus. That allows people a little leeway to get the funds together and avoid credit score damage, though the issuer will still likely charge a late fee," WalletHub Analyst Cassandra Happe said.
Find out what's happening in Detroitfor free with the latest updates from Patch.
The most delinquent cities are as follows:
No. 1 Laredo, TX
Find out what's happening in Detroitfor free with the latest updates from Patch.
No. 2 Detroit
N0. 3 San Bernardino, CA
No. 4 Newark
No. 5 Winston-Salem, NC
No. 6 Philadelphia
No. 7 Baton Rouge
No. 8 Bakersfield
No. 9 Greensboro, NC
No. 10 Stockton, CA
The least delinquent cities are:
No. 100 Seattle
No. 99 Fremont, CA
No. 98 Scottsdale, AZ
No. 97 San Francisco
No. 96 Honolulu
No. 95 Boston
No. 94 Boise, ID
No. 93 San Diego
No. 92 Madison, WI
No. 91 Portland, OR
You can see the full report and complete rankings here.
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