DOCSLIB.ORG

Management Audit of the Department of Revenue

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Management Audit of the Department of Revenue Management Audit of the Department of Revenue Prepared for the Board of Supervisors of the County of Santa Clara Prepared by the Board of Supervisors Management Audit Division County Administration Building, East Wing, 10th Floor 70 West Hedding Street San Jose, CA 95110 (408) 299-6436 August 31, 2010 This Page Left Blank Table of Contents Executive Summary ...................................................................................................... i Introduction.................................................................................................................. 1 Customer Service and Collections Section 1. Improving Payment Methods ........................................................... 23 Section 2. Contract for On-line and Telephone Payments ............................... 63 Section 3. Improving Medical Debt Collections ................................................ 79 Section 4. Improving Collections Tactics............................................................ 99 Management Issues Section 5. Collections Officer Duties, Workload and Procedures .................. 113 Section 6. Improving Management Information ............................................ 133 Written Responses to the Audit Written Response from the Department of Revenue........................................... 136 Written Response from Valley Medical Center..................................................... 147 This Page Left Blank Executive Summary This Management Audit of the Department of Revenue was authorized by the Board of Supervisors of the County of Santa Clara, as part of the County’s FY 2009-10 Management Audit Program, pursuant to the Board’s power of inquiry specified in Article III, Section 302 (c) of the County of Santa Clara Charter. The purpose of the management audit was to examine the Department’s operations broadly to identify opportunities to increase efficiency, effectiveness and economy. A synopsis of this report’s six findings and recommendations is presented below. It is difficult to estimate the potential net new revenues that would be generated by implementation of recommendations in the report. However, for each one percent increase in gross overall collections, the Department would generate an estimated $550,000 annually. Section 1: Improving Payment Methods The County of Santa Clara Department of Revenue (DOR) could make it easier for debtors to make payments, thus potentially increasing net revenue receipts. Potential improvements include allowing debtors to accept default payment plans by mail, facilitating credit-card payments by mail, enabling debtors to pay online or by telephone without incurring convenience fees, and making online payment options more accessible, among other potential improvements. Section 2: Contract for Online and Telephone Payments The existing contract with an outside vendor for the Department to accept online and telephone payments is contrary to County policies and results in debtors being charged excessive fees when they make payments. The Department should ensure that fee rates are appropriate, and that the selected vendor and fees are approved by the Board of Supervisors. Section 3: Improving Medical Debt Collections The largest portion of outstanding debt in DOR’s accounts system is medical. In addition, $391 million worth of medical bills were deemed uncollectible in FY 2008-09. Medical account collections could be improved by Valley Medical Center gathering better information about patients to determine eligibility for third-party payment, billing the patient share more quickly, and requiring patients to sign reimbursement agreements for future use when appropriate. In addition, DOR could improve its collections by writing off aged bad medical debts more quickly to facilitate improved focus on accounts more likely to be fruitful. Board of Supervisors Management Audit Division i Executive Summary Section 4: Improving Collections Tactics The Department could employ or expand certain collections tactics to potentially improve its collection rates and thus net revenue receipts. These include - where appropriate - levying bank accounts, reporting delinquent debt to credit bureaus, and making greater use of existing predictive/auto dialer technology. Section 5: Collections Officer Duties, Workload and Procedures The Department’s active caseloads are very large and populated with very old accounts, the Department provides insufficient direction to staff regarding prioritization of accounts, and many Collections Officers and Supervisors are engaged in duties that are outside the scope of their job descriptions. By eliminating old accounts, improving prioritization of remaining accounts, hiring additional collections staff, and ensuring that collections staff are not engaged in non-collections tasks, the Department is likely to experience a net increase in revenue receipts. Section 6: Improving Management Information Despite the large amount of reports produced by the Department, management lacks detailed, routine management-level information reports related to collection rates and the age of accounts. The Department should develop this information for use in guiding the development of caseload management policies and their implementation. Board of Supervisors Management Audit Division ii Introduction This Management Audit of the County of Santa Clara Department of Revenue was authorized by the Board of Supervisors of the County of Santa Clara, as part of the County’s FY 2009-10 management audit program, pursuant to the Board’s power of inquiry specified in Article III, Section 302 (c) of the County of Santa Clara Charter. Purpose and Scope The purpose of the management audit was to examine the operations and practices of the Department of Revenue, and to identify opportunities to increase the Department’s efficiency, effectiveness and economy. This audit report includes findings related to the Department’s collections tactics, payment methods, medical debt collections, contract for online and telephone payments, Collections Officer duties, workload and procedures, and management information. The recommendations pertaining to these findings present potential strategies for revenue enhancement, many of which cannot be quantified. Nonetheless, for every 1 percent increase in gross overall collections generated by implementation of these recommendations, the Department would generate an additional $550,000 annually. Many recommendations in this audit relate to implementing changes that have benefited collections in other counties. Audit Methodology Auditors interviewed Department employees throughout all levels and divisions of the organization, as well as representatives of other County departments that provide collections services, and other Counties’ in-house collections functions. Auditors also interviewed staff in or obtained data from relevant County departments, including Procurement, the Controller-Treasurer, County Counsel, Social Services, the Tax Collector, the Department of Child Support Services and Valley Medical Center. In addition to the interviews, auditors sat with selected cashiers and collectors to gain a first-hand understanding of the activities and tasks involved in their duties. Auditors reviewed and analyzed documents, reports, policies and procedures, spreadsheets, and datasets and electronic records provided by the Department, and surveyed collections functions in other California Counties to enhance our understanding of collections operations. In addition, auditors interviewed and obtained data from key Patient Billing Services managers of Valley Medical Center who oversee the billing and internal collections efforts that occur prior to medical accounts being referred to the Department of Revenue. The audit was conducted in accordance with generally accepted government auditing standards issued by the United States Government Accountability Office. Pursuant to these requirements, we performed the following management audit procedures: • Audit Planning – The management audit was selected by the Board of Supervisors using a risk assessment tool and estimate of audit work hours developed at the Board of Supervisors Management Audit Division 1 Introduction Board’s direction by the Management Audit Division. After audit selection by the Board, a preliminary management audit work plan was developed and provided to the Department. • Entrance Conference – An entrance conference was held with senior Department management to introduce the management auditors, describe the management audit program and scope of review, and respond to questions. A letter of introduction from the Board, a management audit work plan, and a request for background information were also provided at the entrance conference. • Pre-Audit Survey – A preliminary review of documentation and interviews with managers were conducted to obtain an overview understanding of the Department, and to identify areas of operations that warranted more detailed assessments. Based on the pre-audit survey, the work plan for the management audit was refined. • Field Work – Field work included: (a) interviews with management and line staff of the Department; (b) a further review of documentation and other materials provided by the Department and available from other sources; (c) analyses of data collected manually and electronically; (d) surveys of other jurisdictions to measure performance and to determine organizational and operational alternatives that might warrant consideration by
Load more

Recommended publications
  • Consequences of Med Debt
    The Consequences of Medical Debt Evidence from Three Communities February 2003 Comité de Apoyo de Inquilinos y Trabajadores Tenants’ and Workers’ Support Committee The Access Project (TAP) is affiliated with the Heller School for Social Policy and Management at Brandeis University. It has served as a resource center for local communities working to improve health and healthcare access since 1998. The project receives its funding from a variety of public and private sources. The mission of TAP is to strengthen community action, promote social change, and improve health, especially for those who are most vulnerable. TAP conducts community action research in conjunction with local leaders to improve the quality of relevant information needed to change the health system. It seeks to enhance the knowledge and skills of community leaders to strengthen the voice of underserved communities in the public and private policy discussions that directly affect them. 30 Winter Street, Suite 930 Boston, MA 02108 Phone: (617) 654-9911 E-mail: [email protected] Internet: www.accessproject.org The Champaign County Health Care Consumers (CCHCC), founded in 1977, is a non-profit grassroots citizen action organization dedicated to the mission of health care for all. CCHCC is founded on the premise of participatory democracy and the belief that meaningful change in the health care system will come only with the active involvement of consumers. CCHCC works to bring a consumer voice and consumer-driven changes to the health care system through education, advocacy, and community organizing. CCHCC is a community-based organization with over 7,000 members working locally on issues of national importance.
    [Show full text]
  • A Crisis of Medical Debt Americans Owe About One Trillion Dollars in Medical Debt
    A Crisis of Medical Debt Americans owe about one trillion dollars in medical debt. That’s just over $3000 for every adult and child. Each year, 79,000,000 Americans are faced with difficult choices of paying their mounting medical bills or paying for basic human Quick Facts about Medical Debt: needs like shelter and food for themselves and their families. About 66% of U.S. bankruptcy cases are related to medical debt issues, and • 42.9 million Americans have about 25% of credit card debt is medical debt. Because it is so unpaid medical bills expensive, about 50% of Americans delay going to the doctor when • Six in 10 of both insured and sick. The cost of U.S. medical care, even with insurance, is crushing uninsured people say they working and middle class families across the country. have difficulty in paying other bills as a result of medical After a period of time, overdue medical debt is sold for pennies on debt. the dollar by medical clinics and hospitals to private collection agencies, who then try to collect the full balance from the original • Medical debt contributes to debt holder. More than half of the debt collections market in the more than 60 percent of the United States is related to medical debt. This is where RIP Medical bankruptcies in the U.S. Debt comes in. They buy up medical debt for pennies on the dollar, and then instead of collecting the original balance, they erase it. It is a practice of mercy, and we can participate. Data and some text for this info sheet and for RIP Medical Debt available here: https://ripmedicaldebt.org.
    [Show full text]
  • Past-Due Medical Debt Among Nonelderly Adults, 2012–15
    HEALTH POLICY CENTER AND OPPORTUNITY AND OWNERSHIP INITIATIVE Past-Due Medical Debt among Nonelderly Adults, 2012–15 Michael Karpman and Kyle J. Caswell March 2017 Medical bills contribute to financial insecurity for many Americans. In this brief, we use survey data to examine the prevalence of past-due medical debt among nonelderly adults—specifically, how it varies across states, and how it has changed over time. We find that states differ substantially in the share of nonelderly adults reporting that they have unpaid medical bills that are past due. Many Americans carry past-due medical debt balances. A recent Consumer Financial Protection Bureau report found that unpaid debt in collections owed to hospitals and other medical providers made up about half of all debt in collections, and that 19 percent of consumers with a credit file had some form of medical debt in collections (CFPB 2014). Families with medical debt report that it reduces their ability to save and to afford basic household needs, increases their reliance on credit cards and other forms of debt, damages their credit, and induces them to forgo needed health care (Hamel et al. 2016; Pollitz et al. 2014). In extreme cases, medical debt may contribute to personal bankruptcy, although the extent to which medical bills cause bankruptcy is debated (Dobkin et al. 2016; Dranove and Millenson 2006; Gross and Notowidigdo 2011; Himmelstein et al. 2005). A fundamental function of health insurance is to protect people against the risk of unexpected medical bills, and several studies have found that health insurance reduces medical debt as well as other forms of debt.
    [Show full text]
  • SOLVING the MEDICAL DEBT CRISIS Brianna Wells | March 2021 TABLE of CONTENTS
    SOLVING THE MEDICAL DEBT CRISIS Brianna Wells | March 2021 TABLE OF CONTENTS Executive Summary 2 Introduction 4 Medical Debt and Racial Health & Economic Disparities 5 Findings: Causes of Medical Debt 8 - Surprise Medical Billing - Medical Credit Cards - Third-Party Debt Collection - Uninsurance and Underinsurance - Credit Inequities Health Care Costs Due to COVID-19 and Medical Debt 11 Policy Recommendations 12 - Institutionalize Equity into Health Systems - Institutionalize Equity into Financial Institutions - State Government Policies Conclusion 15 Acknowledgements 16 References 18 The Greenlining Institute Solving the Medical Debt Crisis 1 EXECUTIVE SUMMARY Medical debt is the number one cause of • In California, 31% of people of color have bankruptcy in the United States, with 62% of some type of past-due debt in collections, bankruptcies caused by medical bills.1 In 2016, compared to only 19% of White residents. one in six Americans had past due medical bills, • Twelve percent of people from communities of resulting in $81 billion in debt.2 color in California owe medical debt.6 In a 2015 survey by the Kaiser Family Foundation, The COVID-19 pandemic threatens to worsen 26% of Americans aged 18 to 64—52 million— health disparities and the burden of medical debt said that they struggled to pay medical bills.3 on communities of color. Health care costs due Medical expenses were the largest factor to COVID-19 have already left people in severe increasing the number of people in poverty last debt, and layoffs due to COVID leave historical year.4 numbers of people unemployed and uninsured.7 Communities of color have been especially Medical debt is not distributed equally across devastated by the pandemic, leaving them communities: especially vulnerable.
    [Show full text]
  • Fair Debt Collection Practices Act
    Fair Debt Collection Practices Act CFPB Annual Report 2017 1 March 2017 Message from Richard Cordray Director of the CFPB The year 2017 marks the fortieth anniversary of the enactment of the Fair Debt Collection Practices Act (“FDCPA”). In enacting that law, Congress found “abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors” and enacted the law to put an end to such practices and assure “that those debt collectors who refrain from using abusive debt collection practices are not competitively disadvantaged.” Much has changed in the ensuing forty years in the ways in which debt is collected and even in the types of entities engaged in debt collection. But the Act remains as important today as it was the day that it was signed into law. The Consumer Financial Protection Bureau (“Bureau” or “CFPB”) is the only federal government agency dedicated solely to consumer financial protection. Among our important responsibilities is administering and enforcing the FDCPA. We recognize that debt collection is a necessary part of a functioning financial system. At the same time, we recognize that illegal practices have no place in the debt collection process, and that if such practices are not stopped, those collectors seeking to adhere to the law will find themselves at a competitive disadvantage. It is therefore vitally important that the protections built into the FDCPA are vigorously enforced. The Bureau is authorized to do so along with our partners at the Federal Trade Commission (“FTC”). In 2016, the Bureau and the FTC took important steps to vindicate the rights set forth in the FDCPA.
    [Show full text]
  • Healthcare Debt in the United States: an Analysis of Consumer Healthcare Debt and Its Impact on Healthcare Systems
    Title Page Healthcare Debt in the United States: An Analysis of Consumer Healthcare Debt and Its Impact on Healthcare Systems by Sydney Elizabeth Pack BS in Business Administration, University of Arkansas, 2011 Submitted to the Graduate Faculty of the Department of Health Policy and Management Graduate School of Public Health in partial fulfillment of the requirements for the degree of Master of Health Administration University of Pittsburgh 2020 Committee Page UNIVERSITY OF PITTSBURGH GRADUATE SCHOOL OF PUBLIC HEALTH This essay is submitted by Sydney Elizabeth Pack on June 22, 2020 and approved by Essay Advisor: Kevin Broom, PhD, MBA, Associate Professor and Director of MHA and MHA/MBA Programs, Health Policy and Management, Graduate School of Public Health, University of Pittsburgh Essay Reader: Sara Goodkind, PhD, MSW, Associate Professor, School of Social Work, University of Pittsburgh Essay Reader: Jeffery Shook, PhD, MSW, JD, Associate Professor, School of Social Work, University of Pittsburgh ii Copyright © by Sydney Elizabeth Pack 2020 iii Abstract Kevin Broom, PhD Healthcare Debt in the United States: An Analysis of Consumer Healthcare Debt and Its Impact on Healthcare Systems Sydney Elizabeth Pack, MHA University of Pittsburgh, 2020 Abstract Healthcare debt in the United States (US) has become an economic and public health issue that continues to place a financial strain on individuals and healthcare systems. More policies could be enacted to assist individuals bearing the financial burden of healthcare debt. There are a number of ways to receive assistance in paying for healthcare debt, but none of the current solutions are consistent or sustainable in the long-term.
    [Show full text]
  • Medical Debt As a Cause of Consumer Bankruptcy
    Maine Law Review Volume 67 Number 1 Article 2 January 2014 Medical Debt as a Cause of Consumer Bankruptcy Daniel A. Austin Follow this and additional works at: https://digitalcommons.mainelaw.maine.edu/mlr Part of the Health Law and Policy Commons Recommended Citation Daniel A. Austin, Medical Debt as a Cause of Consumer Bankruptcy, 67 Me. L. Rev. 1 (2014). Available at: https://digitalcommons.mainelaw.maine.edu/mlr/vol67/iss1/2 This Article is brought to you for free and open access by the Journals at University of Maine School of Law Digital Commons. It has been accepted for inclusion in Maine Law Review by an authorized editor of University of Maine School of Law Digital Commons. For more information, please contact [email protected]. MEDICAL DEBT AS A CAUSE OF CONSUMER BANKRUPTCY Daniel A. Austin I. INTRODUCTION II. BANKRUPTCY AND MEDICAL BANKRUPTCIES A. Consumer Bankruptcy: Overview and Causes 1. Overview of Consumer Bankruptcy 2. Causes of Consumer Bankruptcy B. Medical Bankruptcy C. Medical Debt as a Cause of Bankruptcy III. SOURCES OF DATA AND METHODOLOGY A. Bankruptcy Schedules B. Surveys IV. FINDINGS A. Medical Debt is the Single Largest Cause of Consumer Bankruptcy. B. Twenty-Six Percent of Debtors “Agree” or “Strongly Agree” That They Filed Because of Medical Bills. C. Sixty-One Percent of Debtors Report Medical Debt and Average Medical Debt is $9,374.09 D. Eighteen Percent of Debtors Have Revised Medical Debt Greater Than Half of Their Annual Income or Total Unsecured Debt V. CONCLUSION 2 MAINE LAW REVIEW [Vol. 67:1 MEDICAL DEBT AS A CAUSE OF CONSUMER BANKRUPTCY Daniel A.
    [Show full text]
  • Medical Debt 101
    ISSUE PRIMER May 8, 2019 MEDICAL DEBT 101 Acknowledgement: This research was funded by the Annie E. Casey Foundation. We thank them for their support but acknowledge that the findings and conclusions presented in this report are those of the authors alone, and do not necessarily reflect the opinions of the Foundation. Sycamore takes a neutral and objective approach to analyze and explain public policy issues. Funders do not determine research findings. More information on our code of ethics is available here. Medical debt is surprisingly common and can have far-reaching economic effects. This report explores how medical debt occurs. A companion report looks at the estimated prevalence of medical debt in Tennessee and explains why it matters. Future reports will focus on how medical debt varies across Tennessee’s 95 counties and options for policymakers who want to address it. KEY TAKEAWAYS • Medical debt is unique from other types of debt for its connection to health-related circumstances that individuals often cannot predict or control. • When medical bills go unpaid, they are often sold to debt collectors and can be reported to credit bureaus. • If reported to a credit bureau, debt can hurt a person’s credit score, which lenders, employers, utilities, and others use to gauge financial reliability. • Medical bills can also become debt when paid with loans, which may accrue higher costs than the original bill. Figure 1. How a Medical Bill Becomes Medical Debt Medical Visit Unpaid Medical Debt In Collections Bill Bad Debt Debt Sold Credit Report Jessie visits Health ‘R Us sells debt to Health ‘R Us.
    [Show full text]
  • Medical Bill Payment Plan Letter
    Medical Bill Payment Plan Letter Gustavo never peregrinate any strops scramblings antiphonically, is Tedman twelvefold and eccentric enough? Conversational Markus subsidizes: he horsings his centres specially and glimmeringly. If overweary or involutional Clifton usually rekindles his cholesterol hysterectomize shufflingly or radiotelephones cryptography and kinkily, how running is Wynn? Or write the twilight of service provided not covered under your particular reading plan. Most business care providers or billing departments will mail you scholarship letter. If You through Money Creditors don't want food bring even a debt collection agency. The Medical College of Wisconsin sends out a bill retention the doctor with other care. Medical Billing Managing Your excellent Care service Office of. Seeking Financial Assistance For Your Medical Bills Nolo. In addition patients are sometimes asked to center a portion of a bill weld a co-pay or. We ask would you meal for as outstanding power of insert the broth here if or. If income've got debts you brought use these sample letter generator to write request your creditors You can use claim letter templates to vest your non-priority creditors about your situation and to shovel them to action your repayment plan. This could dramatically reduce an amount owed on the bill The next alarm to take hold to conjunction with the clinic doctor different hospital service an affordable repayment plan. Payment Arrangements SSM Health. Write good letter of lust cancel a continuous payment or lapse a creditor a. Creditors are looking for the ability to medical bill payment plan should be applied to pay for the hospital make a letter here! How to wrath With Medical Debt Clark Howard.
    [Show full text]
  • Consumer Over-Indebtedness and Health Care Costs: How to Approach the Question from a Global Perspective
    Consumer over-indebtedness and health care costs: how to approach the question from a global perspective Sarah Emami World Health Report (2010) Background Paper, 3 HEALTH SYSTEMS FINANCING The path to universal coverage © World Health Organization, 2010 All rights reserved. The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the World Health Organization concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Dotted lines on maps represent approximate border lines for which there may not yet be full agreement. The mention of specific companies or of certain manufacturers' products does not imply that they are endorsed or recommended by the World Health Organization in preference to others of a similar nature that are not mentioned. Errors and omissions excepted, the names of proprietary products are distinguished by initial capital letters. All reasonable precautions have been taken by the World Health Organization to verify the information contained in this publication. However, the published material is being distributed without warranty of any kind, either expressed or implied. The responsibility for the interpretation and use of the material lies with the reader. In no event shall the World Health Organization be liable for damages arising from its use. The findings, interpretations and conclusions expressed in this paper are entirely those of the author and should not be attributed in any manner whatsoever to the World Health Organization. Consumer over-indebtedness and health care costs: how to approach the question from a global perspective World Health Report (2010) Background Paper, No 3 Sarah Emami1 1 JD-MPH, consultant Abstract: The last two decades have witnessed significant increases globally in consumer over-indebtedness and in adoption of bankruptcy legislation.
    [Show full text]
  • HOUSE BILL 565 J3 1Lr0529 CF 1Lr1577 By: Delegate Charkoudian Introduced and Read First Time: January 20, 2021 Assigned To: Health and Government Operations
    HOUSE BILL 565 J3 1lr0529 CF 1lr1577 By: Delegate Charkoudian Introduced and read first time: January 20, 2021 Assigned to: Health and Government Operations A BILL ENTITLED 1 AN ACT concerning 2 Health Facilities – Hospitals – Medical Debt Protection 3 FOR the purpose of specifying the method for calculating family income to be used for 4 certain purposes under a certain hospital financial assistance policy; requiring a 5 hospital to submit annually a certain report to the Health Services Cost Review 6 Commission at a certain time; requiring the Commission to post certain information 7 on its website; altering the required contents of a hospital’s policy on the collection 8 of debts owed by patients; requiring a hospital to provide a refund of certain amounts 9 collected from a patient or the guarantor of a patient who was found eligible for 10 reduced–cost care on the date of service; establishing certain prohibitions on 11 hospitals that charge interest fees on hospital bills; requiring a hospital to provide 12 in writing to certain patients information about the availability of a certain 13 installment payment plan; requiring a hospital to provide certain information to a 14 patient, the patient’s family, an authorized representative, or the patient’s legal 15 guardian at certain times; prohibiting a certain payment plan from requiring a 16 patient to make certain monthly payments and imposing certain penalties; requiring 17 a hospital to determine certain adjusted monthly income in a certain manner under 18 certain circumstances;
    [Show full text]
  • The Debt Disparity
    The Debt Disparity What Drives Credit Card Debt In America Amy Traub Data analysis by Catherine Ruetschlin & Ellis Scharfenaker Dēmos is a public policy organization working for an America where we all have an equal say in our democracy and an equal chance in our economy. Demos.org 220 Fifth Avenue, 2nd Fl. New York, New York 10001 212.633.1405 CONTENTS 1. Executive Summary 2. Introduction 5. Demographics of the sample 7. Education and presence of children 9. Unemployment 11. Medical expenses and health insurance coverage 14. Assets 17. Differences in spending and saving 19. Consequences of debt 22. Conclusion and Policy Recommendations 26. Data Appendix: Regression Analysis EXECUTIVE SUMMARY hat differentiates households that accumulate and carry balances on their credit cards from those that don’t have debt? Building on a national survey of 1,997 households, this study examines two groups of working age low- and middle-income households that Ware statistically indistinguishable in terms of income, racial and ethnic back- ground, age, marital status and rate of homeownership—yet one group carries credit card debt, while the other has credit cards but no debt. Contrary to popular belief, we find little evidence that households with credit card debt are less responsible in their spending habits than households that do not have accumulated debt. Instead, we see that, among similarly situated low- and middle-income households of working age, factors like education, value of assets to fall back on, insurance coverage and whether a household member has lost a job are among the foremost predictors of whether a household will accu- mulate credit card debt.
    [Show full text]