Michigan Has The Most Financially Distressed People In The US

If you live in Michigan and are strapped for cash, you are not alone. Michigan is home to the most financially distressed people in the United States.

That's right, out of 50 states the Great Lakes State takes the number one spot on a recent Wallet Hub list.

How did Wallet Hub determine the list of most financially distressed residents in the  United States?

Wallet Hub looked at the following data to put together this list,

• The change in the number of bankruptcy filings between March 2023 and March 2024
• The number of people with accounts in distress
• Average credit score
• Delayed payments
• Debt searches
• Loan searches

Get our free mobile app

Which states landed in the top 10 on the list of most financially distressed people in the US?

• Michigan
• Texas
• Nevada
• Tenessee
• Rhode Island
• Georgia
• Lousiana
• North Carolina
• Mississippi
• New York

Which states have the least amount of financially distressed people in the US?

States where people are least financially stressed include the following,

• New Hampshire
• Iowa
• Connecticut
• Vermont
• Wisconsin
• Nebraska
• Maine
• Kansas
• Oregon
• Wyoming

Chances are if you are living paycheck to paycheck and not earning a decent wage, you will agree with this study. It is unfortunate to say the least.

It's pretty hard to live your best like when you are broke. We all know we can't take our money with us when we die, but it sure would be nice to have enough of it while we are alive.

You can see the full list featuring all 50 states with stats below.