Springboard Partners with CARE Program to Warn Teens about Credit Cards; Interactive Presentation Teaches Students Important Life Lessons

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In response to the growing number of bankruptcy filings among young people, [Springboard Nonprofit Consumer Credit Management] and the Honorable John J. Hargrove (ret.) hosted a Credit Abuse Resistance Education (CARE) presentation to more than 800 Fountain Valley High School seniors discussing the responsibility and risks associated with credit card debt.

Springboard's mission runs parallel to the overall goal of the CARE Program. We look to educate these students and provide a counter message to the aggressive marketing of credit card companies who tell them to continue spending.

In response to the growing number of bankruptcy filings among young people, Springboard Nonprofit Consumer Credit Management and the Honorable John J. Hargrove (ret.) hosted a Credit Abuse Resistance Education (CARE) presentation on Thursday, May 20 to more than 800 Fountain Valley High School seniors discussing the responsibility and risks associated with credit card debt. CARE is a national program whose objective is to train young men and women to intelligently manage their credit card debt and avoid trying to live beyond their means. John J. Hargrove, former judge at the U.S. Bankruptcy Court for the Southern District of California, instituted the CARE Program in the federal judiciary’s Southern District of California.

“We believe there is a lack of education on the risks associated with young adults and credit card debt. With 1.4 million bankruptcy filings in 2009, one of the fastest growing age group was 18 to 24 years of age. As a whole, this group’s debt is on the rise,” said Todd Emerson, president and CEO of Springboard. “Springboard’s mission runs parallel to the overall goal of the CARE Program. We look to educate these students and provide a counter message to the aggressive marketing of credit card companies who tell them to continue spending.”

Springboard and the CARE Program collaborated to provide high school students with the opportunity to learn about managing finances, budgeting, and how to avoid the temptations they can’t afford. The presentations included a video advising young adults of the risks associated with abusing credit cards along with hard facts and statistics regarding debt within their age group. Financial literacy materials were also available for students to take home.

“The temptation is growing for young adults to use credit cards as a means to buy whatever they want, whenever they want it. It is crucial they understand that running up credit card debt can hold them back when entering the job market or applying for a student loan in college,” said Hargrove. “The CARE Program is designed to prevent them from ever seeing the inside of a bankruptcy court. With the help of Springboard, we hope to educate these students to use credit wisely.”

About Springboard Nonprofit Consumer Credit Management
SPRINGBOARD® Nonprofit Consumer Credit Management is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974. Springboard is a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency offers personal financial education and assistance with credit counseling, housing counseling, debt and money management through educational programs and confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. The agency has 18 locations in California, Arizona, Nevada, New Mexico and Texas for in-person counseling sessions. Not all types of counseling are available in-person at all locations, please call for details. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at http://www.credit.org.

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