Patricia Hasson, President and Executive Director, Consumer Credit Counseling Service of Delaware Valley

BoLT is a partnership between Consumer Credit Counseling Service of Delaware Valley (CCCS) and Innovations for Poverty Action (IPA), applying behavioral economics principles to increase the financial capability of low‐to‐moderate income individuals and families struggling with consumer debt. CCCS of DV and IPA will conduct a randomized‐control trial in which a sample of clients who join the Debt Management Plan (DMP) to repay debts through CCCS will receive peer support and/or regular reminders to stick to budgets and DMPs. For example, a portion of clients will select up to five peer supporters, such as friends or family members to referee their progress on a DMP. Peer supporters will receive updates on client progress, including notifications when clients miss a scheduled debt payment. Additionally, CCCS of DV will test the impact of regular text message reminders on DMP outcomes, testing variations of messaging content (e.g., a focus on tasks, plans, or end goals) in order to determine the optimal design of the messages. CCCS of DV and IPA hope that these interventions will assist participants in committing to the DMP, paying down debt, increasing credit scores and improving financial health.

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