Here’s what you should know.
Americans’ money distress is disproportionately felt across the 50 states and the District of Columbia, according to a study from WalletHub that compares a location’s average credit score, accounts in distress, bankruptcy filings, online searches for “debt,” and the number of loans needed due to the coronavirus.
Financial difficulties are more pronounced in states like Louisiana, Nevada, Indiana, Oklahoma, and Florida, while those living in Vermont, Montana, Massachusetts, Alaska, and New Hampshire feel less of a financial hit, the data showed.
Among the states with the highest rates of COVID-19 per 1 million residents, five states — Florida, Louisiana, South Carolina, Nevada, and Texas — overlap with the states WalletHub identified as those in the greatest financial distress.
The inverse is also true: Vermont, New Hampshire, Oregon, Montana, and Alaska, which were identified as the least financially impacted, are also among the lowest in the country in terms of infection rate.