LegalShield consumer stress legal index
The Leading Economic Indicator Based on Real Consumer Legal Behavior
Predicting economic trends through 35+ million consumer legal assistance requests spanning two decades. Our quarterly index leads the Conference Board's Consumer Confidence Index by 1-3 months.
What 35 million legal consultations reveal about America's financial picture
While most consumer confidence measures rely on survey responses about how people feel about the economy, the LegalShield Consumer Stress Legal Index (CSLI) tracks what people actually do when facing financial stress. When households struggle with debt, face foreclosure threats, or consider bankruptcy, they seek legal help—creating a powerful leading indicator of economic distress (or, confidence).
Stress as a predictor
Our index has consistently predicted major economic shifts:
- 2008 Financial Crisis: Bankruptcy Index spiked two quarters before the recession officially began
- COVID-19 Economic Impact: CSLI showed consumer stress patterns weeks before traditional indicators
- Post-Pandemic Recovery: Tracked the uneven nature of economic recovery across different demographics
Why actions speak louder than surveys
The source of the CSLI is more than 150,000 calls per month from LegalShield members to LegalShield provider attorneys across all 50 states.
Unlike sentiment-based surveys, the CSLI provides "hard" behavioral data that reflects genuine financial pressure as expressed by what our members are asking for help with. This makes our data particularly valuable during periods when consumer sentiment and actual financial conditions diverge.
Consumer debt and legal stress
In this video, LegalShield’s Matt Layton and Ben Farrow explore the latest findings from the Q2 Consumer Stress Legal Index (CSLI), revealing how debt-driven pressure is driving more Americans to seek legal help as the CSLI hits its highest level since November 2020.
The three components of economic prediction
What it measures:Overall consumer legal assistance requests related to financial distress, debt issues, and consumer protection matters. We track the area of law subjects (not the content) of about 150,000 calls per month as indexed by provider attorneys across the nation.
Why it matters:Consumer spending drives 70% of U.S. economic activity. When consumers seek legal help for financial issues, patterns in the type of requests for advice signal underlying economic stress before it shows up in traditional metrics.
Predictive value:We have seen our CSLI lead Conference Board's Consumer Confidence Index by 1-3 months with 85% correlation accuracy.
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Consumer Stress Index Reports
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Consumer Stress Legal Index Full Reports
Research Methodology & Data Quality
Data Collection Process
Our analysis draws from LegalShield's comprehensive database of consumer legal assistance requests spanning over 20 years. This includes:
- Volume: 35+ million individual legal consultations and case openings
- Scope: Nationwide coverage across all 50 states and demographic segments
- Frequency: Real-time data collection with monthly aggregation and quarterly reporting
- Categories: 50+ legal service categories mapped to economic stress indicators
Statistical Analysis
Our economists and data scientists employ advanced statistical methods including:
- Seasonal adjustment and trend analysis
- Correlation analysis with major economic indicators
- Regional and demographic segmentation
- Predictive modeling and validation testing
Quality Controls
Feeds from our 38 provider law firms supply the data set. We maintain integrity through automated validation and manual review processes. We use independent parties to help correlate our findings with the major indicators.
For Researchers & Academics
We provide historical data and research support for qualified academic institutions studying consumer behavior, economic prediction, and behavioral economics.
Available: Historical datasets, methodology documentation, consultation support
For Media & Journalists
Access our media kit with high-resolution charts, expert commentary, and interview opportunities with our chief economist and data science team.
Available: Press releases, expert interviews, custom analysis
For Policymakers
We support government agencies and policy organizations with specialized analysis and briefings on consumer financial stress trends.
Available: Policy briefings, custom reports, expert testimony
Frequently Asked Questions
LegalShield is a subscription-based service that has been simplifying access to legal help for more than 50 years. Through our network of trusted law firms across the U.S. and Canada, members receive support from experienced attorneys averaging 22 years in practice.
Ideally, you should get legal advice for every legal issue you're facing. It’s the best way to know your rights and stay protected. LegalShield changes the game by making it easy and affordable to consult a real, experienced lawyer.
Our subscription service business model makes legal help affordable for millions of people. Instead of paying a lawyer $300/hour (or more), you pay a small monthly membership fee for access to a law firm for help with an unlimited number of personal legal issues (prices and coverage vary depending on plan).
Membership applications are reviewed within 72 hours. Once approved, you can contact your provider law firm and use the perks of your membership.
Still have questions?
For inquiries about CSLI historical data, research methodology, media requests, or general questions, please contact [email protected]. Our News and Communications team is here to help.
