At MMI, we routinely use data to help build effective solutions, understand developing trends, and uncover valuable insights about our industry, our clients, and ourselves. When able, we share these insights in the form of white papers.
To better understand the debt landscape that Americans are facing, Money Management International (MMI) commissioned a survey.
- Roughly three-quarters of Americans (74%) have needed credit card debt advice.
- Among them, an overwhelming majority (91%) did not always seek it from a professional.
- The majority of Americans who sought credit card debt advice from a professional (75%) say they wish they had contacted them sooner
As natural disasters increase in scope and severity, expedited financial recovery is a critical component of holistic restoration.
- Census areas that are majority Black, Latino, or Native American are 50% more vulnerable to wildfires than other areas.
- Flooding in urban areas disproportionately impacts minority and low-income neighborhoods.
- Following a natural disaster, low-income Americans with credit scores between 300 to 649 experience a 15.5 point credit score drop.
COVID-19 created an unprecedented economic disaster that requires a comprehensive response.
- By April 2020, three in ten Americans had lost income due to coronavirus.
- An assessment of the financial impact from COVID-19 found that “Women, young adults, and groups of color are particularly likely to be low-wage workers.
- Nearly 50% of lower-income Americans reported household job or wage loss due to COVID-19.