Highlights
- Texas cities occupy 8 of the top 10 spots nationally for collection account problems, with Garland, Fort Worth, and Arlington leading
- Garland residents with collection accounts average 3.6 accounts each, the highest rate in the country
- Collection account balances in Texas cities are rising rapidly, with some areas seeing increases over 4% in just three months
- According to WalletHub, collection accounts can damage credit scores for up to seven years and signal broader economic challenges
- Federal and state consumer protection laws provide specific rights and remedies for Texans dealing with debt collectors
Texas Cities Lead Nation in Collection Account Problems, New Financial Study Shows
Garland residents average 3.6 collection accounts each—highest in country—as eight Texas metropolitan areas rank in top 10 cities with highest rates of debt collection accounts
GARLAND, Texas (KPEL News) — A new financial analysis shows that Texas residents face the country’s most serious debt collection challenges, with eight Lone Star State cities claiming spots among the top 10 locations with the highest rates of collection accounts…