There are several ways to harm a credit score — and not paying bills is one of the most common ones.
Unpaid credit cards, loans and past-due bills can lead to late fees, closed accounts, lawsuits and negative marks on a credit report for up to seven years.
Where a person lives can affect their ability to pay off debt, according to a study from WalletHub. The company analyzed the 100 largest cities in the U.S. to determine which cities and states had the most residents delinquent on debt.
Here’s where Texans ranked in the 100 most debt delinquent cities.
Texas has 13 cities among the 100 most debt-delinquent cities, according to the study.
Laredo ranked No. 8 overall, placing it among the top 10 cities with the highest levels of delinquent debt.
To determine the rankings, WalletHub evaluated cities using two key metrics:
According to the Consumer Financial Protection Bureau, most statutes of limitations have a range of three to six years. However, cases can vary due to:
Per the CFPB, it’s best practice to do the following if/when a debt collection agency contacts a person: