By Hank Russell
A recent study found that, despite high prices and high taxes, New Yorkers are not that far behind in debt as residents in other states seem to be.
According to WalletHub, New York ranks 32nd among other states that are most delinquent on debt payments, with a score of 27.28 out of 100 (100 is the most delinquent). Mississippi was the most delinquent state with 100 points, while Iowa was the least delinquent with 0.00 points. The scores were determined by giving 50 points each to the percentage of tradelines — that is, items in your credit report, such as revolving credit, installment credit and collection accounts — and loan balance delinquencies in the first quarter of 2016 (the most recent quarter for which data is available).
The study also found that 9.18% of tradelines were delinquent during the first three months of this year, based on data from WalletHub. That is the 17th-lowest in the nation. Iowa had the lowest delinquency rate for tradelines in Q1 2026 at 7.32%; the highest delinquency rate during this year’s first quarter was 13.76%, which belonged to Mississippi.
New York was also in the bottom half when it comes to loan delinqucnies. Only 6.81% of the state’s loan balance during Q1 2026 was delinquent, according to WalletHub. That is the 23rd-lowest delinquency rate in the nation. Again, Iowa had the lowest delinquency rate (4.47%), while Mississippi had the highest (13.64%).
When it comes to credit card debt and delinquency, New York had the 32nd-highest delinquency rate at 15.53%, an increase of 23.31% from the first to the second quarter last year.
WalletHub pointed out that being late on one’s payments may affect their credit report; these late payments will be recorded on their credit reports and stay there for seven years.
People fall behind on paying their credit cards because either they forgot to make a payment or certain issues beyond their control. However, when a state has a high delinquency rate, it means that their residents are struggling financially.
“Being delinquent on debt can lead to fees, credit score damage, increased interest rates and other negative repercussions,” said WalletHub analyst Chip Lupo. “That’s why it’s important to get current as quickly as possible.”
“For many types of debt, you will have at least 30 days after your due date to make your payment before the lender officially reports it as ‘late’ to the credit bureaus,” Lupo continued. “Many lenders also offer hardship programs that can allow you to temporarily forgo payments due to financial difficulty.”