MoneyWi$e Series Now Includes Rebuilding Credit


Contact: Linda Sherry, (415) 777-9648

Four-Part Program Provides Individuals and Community-based Organizations with Free Financial Education Materials

San Francisco, CA (Oct. 17, 2002) – Consumer Action, a national non-profit education organization specializing in financial education, today releases the final topic of the four-part MoneyWi$e series, Rebuilding Your Credit. The new material brings to light the significance of having a solid credit history and the impact one’s credit has on securing loans and renting apartments – even on obtaining a phone or a job.

For those with damaged credit, suggestions are given for ways to start afresh and rebuild a positive credit record. In addition, the new series addresses how you can handle debt problems before they get out of control.

In today’s uncertain economy, the ability to manage one’s finances can mean the difference between fiscal stability and just getting by. That’s why Consumer Action has partnered with credit card provider Capital One in urging adults to invest in their financial future by availing themselves of the free MoneyWi$e materials.

"With fewer than 30% of lower-income adults aware that there are free resources available to help them better manage their finances, it is important to prevent language and income level from becoming hindrances to understanding one’s personal finances," added Ken McEldowney, Consumer Action’s executive director. "We believe that everyone has the right to free resources to help them help themselves."

"Through the MoneyWi$e program, Consumer Action and Capital One are offering the community financial solutions to prevalent problems," said Diana Don, Capital One’s director of financial education. "We kicked off the program a year ago by addressing how credit works and now we’ve come full circle to provide guidelines for improving one’s credit."

MoneyWi$e Solutions

The MoneyWi$e educational materials provide building blocks for developing and honing personal finance skills, from saving and budgeting to balancing a checkbook and understanding the basics of credit. By providing free brochures in many languages (English, Spanish, Chinese, Korean and Vietnamese), the MoneyWi$e program addresses financial literacy across both income and ethnic barriers.

MoneyWi$e: Materials, Training and Seminars

The multilingual MoneyWi$e materials are available directly to consumers online at or by sending a self-addressed, legal-sized stamped envelope to: Consumer Action MoneyWi$e, 717 Market Street, Suite 310, San Francisco, CA 94103.

In addition to distributing free materials through a network of 6,500 community-based organizations nationwide, the MoneyWi$e program kicked off training events earlier this month in Florida with its first "Train-the-Trainer" session in Tampa. During the two-day seminars, Consumer Action representatives conducted one-on-one training on how to counsel the community on the basics of the MoneyWi$e program. The MoneyWi$e Train-the-Trainer events are open to participating community-based organizations. The next session will be held in Oakland, CA on Nov. 20 and 21, 2002.

About Consumer Action

Consumer Action is a non-profit, membership-based organization founded in San Francisco in 1971. It serves consumers nationwide by advancing consumer rights, referring consumers to complaint-handling agencies and publishing multilingual educational materials. Consumer Action also advocates for consumers in the media and before lawmakers and compares prices on credit cards, bank accounts and long distance services.

About Capital One

Headquartered in Falls Church, VA, Capital One is a provider of MasterCard and Visa credit cards.




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