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Urban Institute Study: 1 in 3 Americans have been reported to a collection agency

The report says the collections industry collects around

The report says the collections industry collects around $50 billion a year. (July 30, 2014 2:02 PM)

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...

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