COLORADO SPRINGS — Credit card debt is at an all-time high and federal reserve data shows an increasing number of Americans are having trouble paying off their debts right now. News5 has learned about a local free credit education class that aims to help people conquer these challenges.
Credit card debt is at an all-time high and federal reserve data shows an increasing number of Americans are having trouble paying off their debts right now. News5 has learned about a local free credit education class that aims to help people conquer these challenges.
People struggling with bad credit tell News5 just admitting they could use some help is a big step. It’s why local credit repair and real estate experts are teaming up to offer a free class to teach people tips to managing credit and long term financial goals.
”I was never taught anything about credit. So, when I turned 18 it was like you’re going to give me a credit card and I don’t have to pay it until later? Awesome,” said Michael Bennett.
He admits at times he’s struggled with his credit, so he’s attending free classes to try to get things back on track. He says the hardest thing was getting over the fear of being judged.
”There’s obviously the nervousness of letting someone know what is really going on and what you’ve done, but everybody has a past and the only thing we can do is to try to learn from it,” said Bennett.
Allison Hill of Turn The Page Financial is a credit repair expert who is leading these free credit education classes.
”I hope when these people leave my class they have some knowledge and understanding of their credit, what their credit profile needs to look like, and how to achieve that,” said Hill. “So, even if they don’t use credit repair I’m giving them enough tools that they can get there on their own.”
Hill is in the process of establishing a nonprofit to try to get more credit education materials in the hands of consumers and the youth of our community.
”Credit education, how to use your credit cards effectively, the laws on credit cards, the laws for consumers, it’s not taught anywhere,” said Hill.
Another element of this free class is bringing in the expertise of military veteran and local real estate expert Daniel Padilla. He says he hopes to help people understand what it takes to get on track to buying a home in Colorado.
”Understanding where people are today and what their expenses are and how they can pay that back, taking ownership is key. It’s definitely key,” said Padilla.
Bennett says in addition to getting his own financial situation sorted out, he hopes to gain knowledge that will inspire generational change for his family.
”I want to learn this too so I can teach my daughter not to do that because right now all I can tell her now is just don’t do it, you don’t want to pay that kind of bill you know? But now I feel like if I learn some things here I’ll be able to explain it better,” said Bennett.
If you are interested in signing up for this free credit education course, the next class is scheduled for the evening of Thursday November 16th at Library 21c (that’s the one near Chapel Hills Mall).
You can contact Turn The Page Financial to sign up. You can call them at (719)-458-5122.
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