The unfortunate fact is that many people don’t realize the long-term implications of defaulted debt, so they don’t seek out all options available to help them avoid, or get out of, financial trouble.
Woodland Hills, Calif. (PRWEB) April 08, 2015
The Account Control Technology Foundation (herein ACT Foundation), a non-profit, charitable organization established by the founders of Account Control Technology, Inc. (ACT), has announced the release of “Beware the Debt Monster,” a short video aimed at building financial literacy by highlighting the dangers of monstrous or unaddressed debt. As part of the April commemoration of National Financial Literacy Month, the Debt Monster video is being distributed and promoted on YouTube and Vimeo, as well as in direct mail campaigns to colleges, universities and financial literacy providers.
To resonate with a modern audience, the two-minute “Beware the Debt Monster” animated video takes a lighthearted approach, personifying debt as an insidious monster that can sneak up on people, overshadowing their financial future and limiting life’s possibilities. The video is accessible on the ACT Foundation website and on YouTube at: https://www.youtube.com/watch?v=Jmk6vEhzEp8
“With the number of defaulted student loans on the rise and an estimated 35% of Americans with debt in collections, we feel it’s important to highlight debt’s detrimental impact on individual lives,” said Dale Van Dellen, chairman of ACT and the ACT Foundation. “The unfortunate fact is that many people don’t realize the long-term implications of debt, so they don’t seek out all options available to help them avoid, or get out of, financial trouble.”
The Debt Monster video is the latest component of a larger campaign by the ACT Foundation to educate people, particularly those of college age, of debt’s dangers. Late in 2014, the Foundation sent “Beware the Debt Monster” posters to hundreds of colleges and universities nationwide to post in view of students. In addition, the Foundation updated its website earlier this year to outline its scholarship programs as well as provide web links to financial literacy and wellness resources.
“There are many free, high-quality financial literacy resources online, and we hope people will access them,” said Mark Boeder, ACT Foundation director of marketing. “We see the ACT Foundation’s role as promoting financial literacy year-round, leveraging the contacts we’ve established both as a scholarship provider and as a charity whose founders have roots in the debt recovery industry.”
The ACT Foundation welcomes colleges, universities, high schools and other organizations to link to its Debt Monster video. Educational institutions may also request a copy of a Debt Monster poster by emailing foundation(at)accountcontrol(dot)com.
About the ACT Foundation
The Account Control Technology Foundation is a charitable organization established by Dale and Debbie Van Dellen with a stated mission “to improve the future of students and the greater community by offering financial literacy and debt management education, mentorship and support to those in need.” In addition to funding scholarships and supporting charitable causes, the ACT Foundation promotes financial wellness and higher education planning. For more information or to make a donation, visit http://www.accountcontrolfoundation.org or email foundation(at)accountcontrol(dot)com
Account Control Technology, Inc. is a leader in providing consultative debt management, collection, default prevention, call center and business office solutions for education, government, commercial and consumer entities. Established in 1990, ACT has been recognized as an Inc. 5000 fastest-growing private company for the past eight years running. The company serves clients nationwide from five office locations: Bakersfield, California; Woodland Hills, California; Mason, Ohio; Dallas, Texas; and San Angelo, Texas. For more information, call 800-394-4228, email info(at)accountcontrol(dot)com or visit http://www.accountcontrol.com.
Note: The quoted figure “35% of Americans with debt in collections” is based on the study “Delinquent Debt in America” by the Urban Institute - July 30, 2014.