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Collection accounts stay on a person's credit report for seven years and can cause significant credit score damage, and increases in collection accounts in a state indicate that people are having trouble paying their bills. To identify where Americans' financial futures are most in jeopardy, the personal-finance website WalletHub released its updated report on the States With the Most Collection Accounts.
"Wyoming is the state with the most collection accounts with an average of more than four accounts per resident in collections. Wyoming also has the highest average balance per collection account at $1,981," said Chip Lupo, WalletHub writer and analyst. "Collection account totals are changing for the better in Wyoming though not as much as in other states. Wyoming only had marginal decreases in the number of accounts per person and in the average collections balance between Q2 and Q3 2024."
Most Collection Accounts
1. Wyoming
2. Montana
3. Nevada
4. Delaware
5. South Carolina
6. North Dakota
7. Alaska
8. Texas
9. Georgia
10. Vermont
Fewest Collection Accounts
41. Michigan
42. Maryland
43. Illinois
44. Oregon
45. Colorado
46. Massachusetts
47. New York
48. Hawaii
49. North Carolina
50. Mississippi