Akarama Foundation To Host Webinar On Overcoming/Avoiding Credit Card Debt Free Zoom Event Takes Place Tuesday, March 23

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Credit cards.

They’re easy to use, they’re convenient, and when money is tight, they’re a great go-to source for purchasing food, clothes, electronics – ANYTHING!

But credit cards can drive one into debt and bankruptcy. Misuse and abuse of credit cards can even destroy lives. Once credit card control is lost, it is difficult to return from the jaws of the card.

Difficult…but not impossible.

For those seeking a release from “credit card jail,” there is a way to cut the card, regain peace of mind and become empowered to overcome the lure and the power of Discover, Visa, MasterCard or whatever is your card of choice.

Recognizing that credit card misuse can overhaul lives, the Building Your Economic Legacy and Women’s Health and HBCU4Life Committees of the AKArama Foundation have joined forces to host “Credit Empowerment- How to Secure the Bag” Webinar. This event takes place virtually on Zoom on Tuesday, March 23, 2021 from 6:30 p.m. until 8:00 p.m. To register, log on to http://bit.ly/2OFOflfSecurethebag

The AKArama Foundation is the charitable arm of Theta Omega Chapter of Alpha Kappa Alpha Sorority, Incorporated.

Leading the discussion and sharing tips on how to conquer the temptation to be pulled into the credit card trap, is a trio of experts. Kecia Ellis-Bobbitt is a Registered Representative Investment Specialist with Primerica. Alexandria Cummings is Director of Financial Inclusion at YWCA Metropolitan Chicago of YWCA and Kimberly Jones is Manager, Investor Relations, Self-Help Credit Union. All totaled, they have decades of experience advising on how to address the root causes of credit card debt and how to put victims of credit card debt on a course to being debt free. Along the way, they provide tools on how to become credit card savvy and learn the signals that will veer you away from being in the clutches of the credit card.

In assisting those they serve, the financial experts take pride in their record of pulling clients out of the cusp of debt and putting them on the path to prosperity.

Drawing from their decades of experience, the experts will cover a range of finance-related topics including •How Money Works, •Building Your Financial House •Intentional Debt Elimination •Credit Reports •Ratings •Scores •Lines of credit and •The Impact of Student Loans on Credit.

This webinar is vital because the threat of credit cards ruining lives is real. Researchers from valuepenguin.comfound the median debt per American family to be $2,700, while the average debt stands at $6,270. The average balance for consumers is $5,315.

For Blacks, credit card reliance has deeper consequences. In the newly-released study, “The Challenge of Credit Card Debt for the African American Middle Class,” co-authored by Demos and the NAACP, new data shows that under difficult economic conditions many African American families rely on credit cards to make ends meet or invest in their future. But African Americans are also more likely to pay high interest rates and suffer more negative consequences of debt than other groups.

The causes and circumstances that lead to “destruction by credit card” are strategic.

According to Lexington Law, whose firm specializes in credit repair, fifteen percent of American families are living beyond their means and are spending more than they receive on a monthly basis. Of these families, 43 percent are turning to credit cards and revolving consumer credit borrowing to finance their expenses. As credit cards have a high annual percentage rate, this means many Americans are seeing their debts compound and grow at a staggering rate.

Veletta L. Bell, president of the AKArama Foundation, praised the Committees for recognizing the significance of hosting such a webinar on the topic of credit card debt.

Said Bell, “Credit cards can be a help if used prudently and carefully. But this piece of plastic can put you on a downward spiral if the card is used to one’s detriment. Misusing or abusing the card can veer out of control if not checked. The advice from these experts on this webinar can prevent this if applied seriously and with resolve.”

AKArama Foundation Vice President Kimberley Egonmwan concurred: “The peace of mind that comes with being free of credit card debt has reverberations on other aspects of life. That’s why this seminar is so valuable. It provides viable ways to control the misuse, overuse and abuse of credit cards.

In inviting the community to attend, Bell said: “Within this webinar will be advice and tools on how to control the credit card urge. When you consider how mastering this can empower you, this webinar is more than a welcome invitation, it is an urgent plea. So, log in, attend the webinar on March 23, absorb the advice and watch how your life will be transformed…for the better.”

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