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Filene's Debt Tool Off to Strong Start

Seven months since its debut, the Filene Research Institute said its Debt in Focus software tool has helped nearly 120,000 consumers across North America measure their debts and improve their financial fitness.

Seven months since its debut, the Filene Research Institute said its Debt in Focus software tool has helped nearly 120,000 consumers across North America measure their debts and improve their financial fitness.

The debt measurement tool provides consumers with anonymous financial assessments and budgeting tools “void of industry jargon and over-the-top salesmanship of competing off-line solutions,” Filene said. The research institute’s i3 team discovered that many Americans do not seek financial guidance due to discomfort and embarrassment. Those who do seek third-party assessments often find that the reports are filled with complex financial industry terminology that ends up being more confusing than helpful.

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