From Financial Integrity
Research: Successful strategies for escaping debt
In the midst of our current worldwide debt crisis, the media is awash with information about how people - and countries - ended up in debt, who is to blame, and opinions on what to do about it, from the simple to the draconian. Distressed consumers have few avenues to turn to for solid, reliable advice, and many have learned the hard way about predatory “debt resolution” companies that compound rather than help solve their problems. Yet many consumers do manage to find ways to overcome debt and reclaim their lives.
To date, no study has been published that takes an organized look at how these individuals and families recover from debt, what works and doesn’t work, and what the road back looks like. We believe these pioneers have stories to tell that can help many, many others and have a positive effect on both families and the economy.
In keeping with its mission of promoting personal Financial Integrity through education, information, and encouragement, New Road Map Foundation is sponsoring a study of methods used by individuals and families who have successfully gotten out of debt. A project by students in the University of Colorado Denver College of Liberal Arts and Sciences, the study will be used to develop educational materials to help other consumers to avoid or resolve financial distress in lasting, meaningful ways.
To aid with the study, complete a simple, confidential survey (see link below). The study conclusions will be made publicly available, including through updates on this page, and will be used by NRM to better help people in debt, including referring them to methods other than the Financial Integrity program when appropriate. Everyone is encouraged to take the survey, regardless of current financial situation. Those who are willing may be contacted for a follow-up interview. Personal information will never be revealed, and will never be used in any way outside this study.
NRM has its roots in the groundbreaking personal finance work of the late Joe Dominguez, co-author with V. Robin of the best seller Your Money Or Your Life.
Founded in 1984 to disseminate the proceeds from Joe’s original seminar recordings, NRM freely offers its Financial Integrity material based on Joe's work to anyone who can benefit from it, only asking that it be used and shared in the same spirit. Materials are freely available online through out Downloadable Guides and other resources throughout the site.
By taking this survey and/or following this project, you are helping us help others in difficult circumstances - thank you!
COMIRB protocol #10-1554
Effectivenss of Different Methods of Debt Repayment