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Profina Debt Solutions 18-Month Panel Study: Impact of Financial Distress on Health - A First Look
Profina Debt Solutions, a leading debt management and credit counseling organization , has taken steps to investigate a possible relationship between reported health and the consumer’s debt burden. If a relationship exists then, a full assessment of the consumer’s total plight would then have to include the effects of deterioration in the client’s health and its subsequent impact on work.
One measure of the success of a debt management and counseling program (DMP) would be the extent to which financial stress is reduced over time and good health maintained.
The strategy for researching the health connection entailed a preliminary analysis of responses to health questions included as part of a larger enquiry about changes in the financial wellness of customers after participation in a debt management program. This would be followed in the future with a more focused enquiry, using hypotheses developed from the preliminary data. After careful study design and data analysis, if health impacts of financial distress exist, then the effectiveness of a DMP program will include reduction or elimination of negative health effects due to financial distress.
