The National Coalition Against Domestic Violence defines economic abuse as when one individual uses finances to control their partner. What’s more, they say that up to 94 to 99 percent of domestic violence victims have also experienced some form of economic abuse.
Part of Consolidated Credit’s counseling process is to identify root causes of debt problems. In some cases, debt is not only unavoidable, it’s necessary to get out of a destructive situation.
That’s the case with two Consolidated Credit alumni who shared their stories about going into debt to escape abusive relationships. They published the accounts in the hopes it can inspire other victims facing similar situations.
Judith and her husband lived an affluent lifestyle, but it came with a price. She suffered violence and he threatened her life. After one incident, she fled, but between moving to five different shelters and dental work to fix damage he’d done to her, Judith faced a mountain of debt that outstripped her modest hourly income.
For Maria, the abuse came in the form of a boyfriend taking advantage of her kindness. She faced a specific type of abuse called coerced debt, where an individual runs up debt in their partner’s name. He’d maxed out her credit cards and drove her accounts into collections. Maria had a limited income and a young special needs child to take care of, but she managed to get out of the relationship and establish a home for her and her son.
“Debt caused by domestic and economic abuse happens more than people think,” says Gary Herman, President of Consolidated Credit. “But there is support available for survivors who need help achieving financial stability. We’re proud to help all our clients find financial freedom, but it feels especially good in cases like these because there’s a much larger freedom at stake.”
About: In 25 years, Consolidated Credit has helped over 6.5 million people overcome financial challenges. Their mission is to assist families throughout the United States to end financial crises and solve money management issues through education and counseling.
SOURCE Consolidated Credit