Researchers found community-based courses can lend to breaking a cycle of debt
People who are open about their debt level and seek peer-supported counselling are more likely to get their finances in order, according to new research out of Western University in London, Ont.
Social stigmas were found to be a key factor when it comes to being stuck in a debt cycle.
The study, “Helping Those That Hide: Anticipated Stigmatization Drives Concealment and a Destructive Cycle of Debt,” was published in the Journal of Public Policy and Marketing.
The research found social support can help people overcome stigma and break the debt cycle.
Read the story on CBC News · Posted: Feb 19, 2023 2:00 AM PST | Last Updated: February 19
