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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 also show people are having trouble paying their bills. To see where Americans’ financial futures are most in jeopardy, the personal-finance website WalletHub today released its new report on the States With the Most Collection Accounts.
Most Collection Accounts | Fewest Collection Accounts |
1. Wyoming | 41. Michigan |
2. Texas | 42. South Dakota |
3. Montana | 43. Colorado |
4. Nevada | 44. New Hampshire |
5. Delaware | 45. New Jersey |
6. Wisconsin | 46. North Carolina |
7. Maine | 47. Massachusetts |
8. Idaho | 48. Hawaii |
9. South Carolina | 49. Mississippi |
10. Kansas | 50. New York |