Before the recession about 15 percent of Americans had a FICO score less than 600, while after about 25 percent of Americans had the same low score, according to a study released in 2010 by Deutsche Bank. More recently, the Urban Institute and Encore Capital Group’s Consumer Credit Research Institute found that one-third of consumers with credit files had debt in collection. That report, which examined TransUnion credit data from 2013, found 77 million Americans have debt 180 days past due, with the average person have about $5,178 in credit card, utility bill, or medical bill debt.
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