Most of us use credit as an ordinary part of our financial life; however, excessive credit use can cause turmoil for every family which means it is critical to understand how credit works and impacts our lives. With the hidden fees and expenses in the fine print, borrowing money can be a complicated process, negatively impacting your Credit Rating.
The Children’s Aid Society knows how difficult it is to manage your credit which is why we have made this an important part of our advocacy effort. Understanding credit is the first step in attaining financial freedom and flexibility.
According to the Federal Reserve, levels of consumer credit debt in the United States have grown steadily over the last several years. Many consumers are drowning in debt, and many credit cards companies are raising fees, responding to record defaults and new regulations for 2010. Interest rates and fees are impacting a record number of consumers. By providing information to help understand their credit history, Children’s Aid encourages families to earn about important topics such as:
- Do’s and Don’ts of Plastic
- Getting a Copy of Your Credit Report
- Forms of Credit
- Interest Rates and Charges
- Over-Extended or Out-of Control Credit
With the financial education provided by Children’s Aid, families can get the information and assistance needed to understand these credit issues that impact their future solvency. With in-depth information and advocacy publications, in both English and Spanish, individuals and families learn to build a stronger future!