Engaging Financially Distressed Consumers

Engaging Financially Distressed Consumers

images (7) D. James Greiner, Dalié Jiménez, and Lois R. Lupica

Research on low-cost ways to engage consumers holds promise for tackling the high default rates in lawsuits.
Over a third of American adults are behind on one or more debts.A staggering number of lawsuits seeking to collect those debts are filed annually.An individual sued on a credit card debt may have several legal defenses available in a court proceeding,but few consumers engage with the court process.Such inaction may have grave consequences.
A default judgment will almost certainly be entered against the consumer.This means that her assets or wages may be seized by the creditor,and the judgment could follow her for decades,hurting her ability to get credit,rent an apartment,or find a job.

Engaging Financially Distressed Consumers

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