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Is Technology-Enhanced Credit Counseling as Effective as In-Person Delivery?

Author

Listed:
  • John M. Barron
  • Michael E. Staten

Abstract

This paper compares outcomes for borrowers who received face-to-face credit counseling with similarly situated consumers who opted for counseling via the telephone or internet. Counseling outcomes are measured using consumer credit report attributes one or more years following the original counseling. The primary analysis utilizes data from a sample of 26,000 consumers who received credit counseling either in-person or via the telephone during 2003. A second sample of 12,000 clients counseled in 2005 and 2006 was provided by one of the agencies to examine internet delivery. Technology-assisted delivery was found to generate outcomes no worse – and at some margins better – than face-to-face delivery of counseling services.

Suggested Citation

  • John M. Barron & Michael E. Staten, 2012. "Is Technology-Enhanced Credit Counseling as Effective as In-Person Delivery?," NFI Working Papers 2012-WP-05, Indiana State University, Scott College of Business, Networks Financial Institute.
  • Handle: RePEc:nfi:nfiwps:2012-wp-05
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    File URL: http://www.indstate.edu/business/sites/business.indstate.edu/files/Docs/2012-WP-05_Staten_Barron.pdf
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    References listed on IDEAS

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    1. Valentina Hartarska & Claudio Gonzalez-Vega, 2005. "Credit Counseling and Mortgage Termination by Low-Income Households," The Journal of Real Estate Finance and Economics, Springer, vol. 30(3), pages 227-243, April.
    2. J. Collins, 2007. "Exploring the Design of Financial Counseling for Mortgage Borrowers in Default," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 207-226, June.
    3. Claudio Gonzalez-Vega & Valentina Hartarska, 2005. "Credit counseling and mortgage termination by low-income households," Proceedings 963, Federal Reserve Bank of Chicago.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Margaret Miller & Julia Reichelstein & Christian Salas & Bilal Zia, 2015. "Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature," World Bank Research Observer, World Bank Group, vol. 30(2), pages 220-246.
    2. Stephanie M. Wilshusen, 2011. "Meeting the demand for debt relief," Payment Cards Center Discussion Paper 11-04, Federal Reserve Bank of Philadelphia.

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