Mississippi Financial Distress Profile

The credit card delinquency rate in Mississippi is 13.4% as of Q4 2025, ranking #9 among the 51 states and DC, 1 percentage point above the U.S. 12.4%. It is up 3.9 percentage points from 9.5% in Q4 2019.

The NY Fed reports a $41,450 total debt balance per adult with a credit file in Mississippi, $21,750 below the U.S. $63,200 on the same basis. That is 25.1% higher than in Q4 2019. Mississippi ranks #50 on that basis.

Auto loan delinquency in Mississippi is 7.7% as of Q4 2025, 2.5 percentage points above the U.S. 5.2%. This ranks #2 of 51. The rate is up from 7.5% in Q4 2019.

Mississippi mainly uses non-judicial foreclosure, which a lender can carry out without going to court. See our Mississippi foreclosure guide for the timeline, homeowner protections and where to get free help.

Mississippi scores 90 on the State Distress Index (extreme state distress), which means it is more distressed than 90% of the 50 states and D.C.. It ranks #6 of 51 jurisdictions, in the most distressed fifth. The score is built from 4 equal-weighted domains: delinquency, default and legal, debt burden on a housing basis, and labor. It ranks states against each other at one time. Separately, the national American Distress Index reads 47.0 (Typical) for the country over time. The composite itself sits higher than 44% of all published quarters since 2005.

The CFPB has received 2,050 mortgage complaints from Mississippi since 2012, 69.7 per 100,000 residents, 65.3 below the U.S. rate of 135. That ranks #41 of 51. Companies responded to 98.1% of Mississippi complaints on time.

Mississippi had 9,774 bankruptcy filings in the 12-month period ending Dec 2025, 332.5 per 100,000 residents, 163.4 above the U.S. rate of 169.1. This ranks #2 of 51. Chapter 7 filings account for 45.8% and Chapter 13 for 53.6%. That is 10.2% more filings than in 2024.

17.7% of people with a credit file in Mississippi have debt in collections, 3.8 percentage points above the U.S. average of 13.9%. This ranks #10 of 51. 26.9% have subprime credit scores (below 620), 10 percentage points above the U.S. average of 16.9%. Data from the Federal Reserve Bank of Philadelphia Consumer Credit Explorer (NY Fed / Equifax), Q1 2025.

312,706 residents of Mississippi received SNAP benefits in June 2026, an enrollment rate of 10.7%, 0.1 percentage points below the U.S. rate of 10.8%. This ranks #21 of 51. That is 12.3% fewer people than in June 2025. The rate is 4 percentage points below the October 2019 to February 2020 average.

Mississippi scores 51.9 out of 100 on the Safety Net Index, ranking #13 of 51 (Moderate). The score combines Medicaid coverage (23.1% enrollment rate, non-expansion state), SNAP enrollment (10.7%), and foreclosure legal protections. That is above the state average of 43.6.

Holmes County is the most distressed county in Mississippi with a County Distress Index score of 100 · extreme county distress, ranking #1 nationally out of 3,144 counties. Washington County (99 · extreme county distress), Leflore County (99 · extreme county distress), Coahoma County (99 · extreme county distress) are next. Madison County is the least distressed at 40 · moderate-low county distress. See all 82 counties at /counties/mississippi/.

Mississippi mainly uses non-judicial foreclosure, which a lender can carry out without going to court. The timeline varies by county and case. Paying to stop the foreclosure: The borrower may cure the default at any time before the actual foreclosure sale by paying all arrears, interest, fees, and costs. Once the sale occurs, there is no post-sale redemption right — the sale is final. Mississippi has no specific statutory right to cure after acceleration, but most mortgage instruments and the federal CFPB rules provide cure opportunities prior to sale. Homestead exemption: $75,000 homestead exemption for Mississippi residents (Miss. Code Ann. § 85-3-21). Mississippi's homestead exemption provides protection against unsecured judgment creditors. However, the exemption does NOT protect against foreclosure of a purchase money mortgage, deed of trust, or other consensual lien on the property — the lender forecloses its security interest regardless of the homestead claim. Full details at /help/foreclosure/mississippi/.

Mississippi scores 90 on the State Distress Index (extreme state distress), which means it is more distressed than 90% of the 50 states and D.C.. It ranks #6 of 51 jurisdictions, in the most distressed fifth. 3 of 5 NY Fed household debt measures are above the U.S. figure. The State Distress Index domain with the highest score is Delinquency. County Distress Index details are listed separately by county. The safety net ranks #13 (Moderate), a state that has not expanded Medicaid.