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Differences Between Credit Counseling Clients and Non-Clients After One Year in a DMP Program
How Today's Active Profina DMP Clients Differ from the Non-Active Back When they all Committed
The InCharge Education Foundation COPE™ Scale
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InCharge Education Foundation : Research : Reports & Publications : Credit Counseling and Personal Financial Well-being : Differences Between Credit ...
Differences Between Credit Counseling Clients and Non-Clients After One Year in a DMP Program
Active credit counseling clients are those who have remained in a debt management program for over a year. Non-clients are those who contacted a credit-counseling agency for assistance but never committed to a debt management program or dropped out of it soon after commencing the program.
Active credit counseling clients in January 2001, when compared to non-clients similarly situated financially a year earlier, report:
Financial Wellness
- Lower level of financial stress
- Better financial wellness today
- Feeling better about current financial situation
- Doing better financially
- More satisfied with present financial situation
- Doing better at paying rent/mortgage, credit cards and utility bills on time, handling minor financial emergencies
- Not been pre-occupied with financial concerns at home.
- Determined how much is needed for retirement.
- Contributed to retirement plan.
- Feel more secure about retirement
Work Life
- Less frequency of financial concerns interfering with work.
- Missed less time from work because of inability to pay for child or elder care.
- Missed less time from work to take care of personal financial matters.
- Similar or less job productivity, quality of work, job performance rating, and commitment to employer, plus more tardiness and absenteeism at work
Health
- Similar overall physical health compared to other people the same age and less frequently bothered with health problems
