New Poll Finds Most Financial Struggling Adults Seek Family Help

Mar 06, 2017

A new poll has found that people experiencing financial distress are most likely to find help from family members.

According to a survey of 849 adults hosted on the National Foundation for Credit Counseling (NFCC) Web site, 44 percent of respondents said they would seek the aid of a parent or another family member first when experiencing money problems. Thirteen percent of respondents identified a nonprofit credit counselor as the source for assistance, while eight percent said they would call a friend and three percent said they could contact a financial planner.

"Familiarity and trust play key roles in determining who we turn to in times of financial distress," said Bruce McClary, spokesman for the NFCC. "Family can seem like a safe haven for those struggling with debt or other money problems, but relatives may not always be in a position to adequately offer the best solutions."

About the author

Phil Hall

Link copied

Published

Mar 06, 2017

Industry News

UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Just weeks after allegations against United Wholesale Mortgage (UWM) were published in an exposé-style report and a class action lawsuit, Hunterbrook Media is once again putting the Michigan lender under the spotlight. On Thursday, the hedge-funded media company published...

Analysis and Data

Homebuying Excitement Is Up Among Veterans

Survey results indicate optimism about housing market among U.S. veterans and service members

Our nation’s heroes are increasingly optimistic about buying homes, new research indicates. The amount of veterans and service members who plan to purchase a home in the next six months was up by 15 percentage points year-over-year, according to the Veterans Homebuying Re...