Renewed Hope Through Debt Forgiveness
Marvell, a CNC trainee, has been working with one of our Center for Working Families financial coaches, Gerardo, on clearing collections and improving his credit.
In 2013, while he was living in Atlanta, he had to go to the emergency room and was uninsured. He has been facing growing collections ever since.
But, last month, Marvell received news that renewed his hope for financial stability. After applying for charity care and constant communication with the hospital, he received a letter stating that they have forgiven his debt of $17,810! As a result, his net worth and credit score will increase, and he has the opportunity to make a fresh start as he embarks on his new career path.
Impact of the Center for Working Families
With increasing costs of basic needs and stagnant wages, low-income Chicagoans and their families struggle to make ends meet. Our participants come to JARC with an average annual household income of $11,524. Saving for their children’s college education, putting a down payment on a house, and paying off debts are all distant dreams for most of these families.
As a Center for Working Families (CWF), we work not just to help families get by but ultimately get ahead. By bringing together, or “bundling,” a range of financial support services alongside its job training services, low-income families can move out of poverty and achieve self-sufficiency.
We provide three core “bundled” services – Employment Services, Income Supports, and Financial Coaching. Together these services connect job seekers with employment, close the divide between the costs of basic needs and wages, and develop long-term financial plans for self-sufficiency. So people like Marvell can truly move toward self-sufficiency by paying off debt, renting apartments, improving credit scores, and opening bank accounts.
Email Sheryl or call 773-751-7108 to learn more.