South Carolina Among Most Financially Distressed States, WalletHub Reports
South Carolina is not an exception to the negative effects of the recent economic turmoil on Americans. Many people are in financial distress, which WalletHub describes as having a credit account in forbearance or deferred payments because of financial difficulties, as a result of inflation, changes in unemployment, natural disasters, and other difficulties.
Based on variables including average credit scores, bankruptcy trends, and search interest for financial assistance, WalletHub's most recent analysis places South Carolina as the ninth most financially troubled state in the country.
Credit Challenges and Financial Struggles
In Q3 2024, South Carolina had the eighth-lowest average credit score in the US, indicating that many people had trouble keeping up sound financial practices. The s...