Helping Consumers Get Out of Debt Faster: How Debt Repayment Strategies Affect Motivation to Repay Debt

Keri Kettle, University of Miami, USA
Remi Trudel , Boston University, USA
Gerald Häubl , University of Alberta, Canada
Effect of debt repayment strategies on motivation to repay debt is examined. Low self-control consumers exhibit greater motivation when paying off their debt accounts sequentially (versus simultaneously). Effect persists whether the strategy is chosen or assigned, is strengthened by a recommendation, is moderated by attainability of getting out of debt.
[ to cite ]:
Keri Kettle, Remi Trudel , and Gerald Häubl (2012) ,"Helping Consumers Get Out of Debt Faster: How Debt Repayment Strategies Affect Motivation to Repay Debt", in NA - Advances in Consumer Research Volume 40, eds. Zeynep Gürhan-Canli, Cele Otnes, and Rui (Juliet) Zhu, Duluth, MN : Association for Consumer Research, Pages: 187-190.