2 out of 3 people in Detroit have debt in collections

Mayor Mike Duggan: Entrepreneurs are changing Detroit

It wasn’t too long ago that Detroit was a booming town with a robust middle class. But after the decline of manufacturing crushed the local economy, Detroit filed the biggest public sector bankruptcy in U.S. history in 2013.

And the city’s troubles have left a mark on the financial stability of its residents in a big way, according to a new report from the Urban Institute.

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Personal finance news – CNNMoney.com

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