Urban Institute Study: 1 in 3 Americans have been reported to a collection agency
A new study says more than 35 percent of Americans have been reported to a collection agency for debts and unpaid bills.
The report, released by the Urban Institute, says the collections industry collects around $50 billion a year. Forty percent comes from health care-related bills, 25 percent is student loans and 10 percent is credit card bills.
Debt management expert Leslie Tayne advises...