1 in 3 U.S. adults have 'debt in collections'

[Tom Joad]

I knew it was bad, but I had no idea it was this bad.

http://money.cnn.com/2014/07/29/pf/d...iid=TL_Popular

An estimated 1 in 3 adults with a credit history -- or 77 million people -- are so far behind on some of their debt payments that their account has been put "in collections."

That's a key finding from a new Urban Institute study.

It examined non-mortgage debt, including credit card bills, car loans, medical bills, child support payments and even parking tickets.

The debt in collections ranged from as little as $25 to a whopping $125,000. But the average amount owed was $5,200.

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