STAFFORD, Texas, Sept. 19, 2023 (GLOBE NEWSWIRE) — Money Management International (MMI), a nonprofit credit counseling and debt management organization, today released data showing an increase in debt distress across all age groups in August 2023 compared to August 2022.
The data shows that the average number of clients seeking help from MMI increased by 40% in August 2023 from August last year. This increase was seen in all age groups, with the largest increase seen from January to August 2023 among those aged 18-29 (56%).
The increase in debt distress is mounting due to the pile on of several factors at once, including the rising cost of living, inflation, rising interest rates, and the economic uncertainty caused by the coming resumpti…
Read the full article at: https://www.globenewswire.com/news-release/2023/09/19/2745881/0/en/New-Data-from-Nonprofit-Money-Management-International-Shows-a-Growing-Demand-for-Help-with-Rising-Debt-Across-All-Age-Groups.html