NYC ranked 3rd with the most people in financial distress: study

6 months ago 8

NEW YORK CITY (PIX11) -- New York City is ranked third in the country with the most people in financial distress, according to a study.

WalletHub compared 100 of the largest cities in the United States across nine key metrics in six categories including, credit score, bankruptcy filings, and the average number of accounts in distress.

New York City ranked in third place due to the increase in non-business bankruptcy filings in 2023 compared to 2022. "A big increase in bankruptcy filings is concerning because of how devastating bankruptcy is for a person’s credit score," according to WalletHub.

Also, New Yorkers searched Google for debt and loan-related queries more than people in most other cities, the study revealed.

Here is a list of the top 10 cities with the most people in financial distress:

Chicago, IL
Houston, TX
New York, NY
Los Angeles, CA
Dallas, TX
Las Vegas, NV
San Antonio, TX
Atlanta, GA
Riverside, CA
Jacksonville, FL

Charline Charles is a digital journalist from Brooklyn who has covered local news along with culture and arts in the New York City area since 2019. She joined PIX11 News in 2022. See more of her work here.

Article From: pix11.com

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