The Protective Association of Financial Product Ownership: Examining Debt Collection Experiences Following Incarceration

This study (n = 6,595) investigates the relationship between incarceration experience and debt collection, and whether the relationship varies based on heterogeneity in financial product ownership (e.g. bank account). Latent Class Analysis (LCA) is used to create four classes of ownership (Comprehensive Financial Products, Core Financial Products, Basic Financial Products, and Limited Financial Products). Results suggest that the relationship between incarceration experience and debt collection varies depending on financial product ownership for those with ownership of more financial products. No incarceration experience does not significantly reduce the risk of debt collection for those with few financial products.