With the unemployment rate at 8.4% and Americans still waiting for another COVID-19 relief package, WalletHub today released its report on the States with the Most People in Financial Distress During COVID-19, along with accompanying videos and audio files.

In order to shed light on the financial troubles experienced by people across the U.S., and to show where those difficulties are most pronounced, WalletHub compared the 50 states and the District of Columbia across nine key metrics. Our data set includes factors like the average credit score, the change in the number of bankruptcy filings between July and January, and the share of people with accounts in distress. WalletHub defines an account in distress as one which either is in forbearance or has its payments deferred. Below, you can see highlights from the report, along with a WalletHub Q&A.

Texas’ Financial Distress During Coronavirus (1=Most Distressed; 25=Avg.):

• 26^th – Change in Credit Score - August vs. January
• 24^th – Change in the Share of People with Accounts in Distress - August vs. January
• 24^th – Change in the Average No. of Accounts in Distress - August vs. January
• 31^st – Change in Number of Bankruptcy Filings - July vs. January
• 9^th – WalletHub “States Where People Need Loans the Most Due to Coronavirus” Score

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