ALLENTOWN, Pa., Aug. 3, 2016 /PRNewswire/ -- Creditsafe, the world's most used provider of company credit reports, today released surprising data about which US states are home to the companies that are timeliest bill payers. According to the Creditsafe report, companies in Alaska, New Hampshire and Hawaii lead the pack in taking less than two days to pay bills while companies in Mississippi, Illinois and Louisiana are the most delinquent by taking more than seven days.
"We don't often think about how quickly the companies headquartered in a state pay their bills, as the economy is tightly focused on consumer debt and the national debt. It turns out there is quite a significant variance in the each state's overall payment behavior," said Matthew Debbage, president of Creditsafe's American and Asia-Pacific Operations. "In fact, some of these results are quite surprising."
As noted in the Creditsafe report for the period between February and July 2016, the five states with companies paying their bills the fastest were:
—Alaska: 1.33 days
—New Hampshire: 1.73 days
—Hawaii: 1.77 days
—Connecticut: 1.85 days
—Vermont: 2.0 days
The five states with companies taking the longest to pay their bills between February and July 2016 were:
—Mississippi: 8.46 days
—Illinois: 7.68 days
—Louisiana: 7.62 days
—Alabama: 7.61 days
—North Carolina: 6.90 days
"It is also interesting to note companies in each of the fifty states paid their bills faster in July 2016 than in February 2016. This held true for every state in the country. We were incredibly surprised to discover this in our study," said Debbage.
About The Creditsafe Group
The Creditsafe Group is the world's most used supplier of company business intelligence, with ten Creditsafe Group reports downloaded every second. Privately owned and independently minded, Creditsafe is looking to change the way business information is used by providing high-quality data in an easy format that everyone in an organization can benefit from.
Founded in Norway in 1997, Creditsafe has offices around the world including: the UK, Germany, France, Sweden, Ireland, Italy, Belgium, the Netherlands and the United States. Globally, Creditsafe employs over 1,200 people and has more than 90,000 subscription customers. Three years ago, the Creditsafe Group opened offices in the U.S. under the name Creditsafe, Inc. Its U.S. operations are headquartered in Allentown, Pa. with another facility in Phoenix, AZ.
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SOURCE The Creditsafe Group