Godwin, 1999, Financial Counseling and Planning, v. 10 (1)

Godwin, D. D..
(1999). Predictors of households’ debt repayment difficulties. Financial
Counseling and Planning
, 10(1), 67-78.

Predictors Of Households’ Debt Repayment Difficulties

Deborah D. Godwin(1)

Households’ probability of experiencing debt repayment difficulty
in 1989 was examined using the 1,479 households in the 1983-1989 panel
data of the Survey of Consumer Finances. The effects of 1983 household
characteristics, attitudes and behavior regarding debt, debt portfolios,
and intervening events were examined. Households were more likely to experience
difficulty with debt repayment if they were younger, nonwhite, had larger
households, had more positive attitudes toward credit had previous difficulty
obtaining credit, had mortgage, automobile, or durable goods debt outstanding,
had received financial support from relatives or friends, and had made
major real estate transactions between 1986 and 1989.

Key Words: Debt repayment, Household characteristics, Attitudes,
Logit, Survey of Consumer Finances

1. . Deborah D. Godwin, Professor, Department
of Housing and Consumer Economics, University of Georgia, Athens, GA 30602.
Phone 706-542-4870. E-mail: dgodwin@fcs.uga.edu

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