STAFFORD, Texas, May 10, 2023 (GLOBE NEWSWIRE) -- A March 2023 survey conducted online by The Harris Poll and commissioned by the nonprofit Money Management International (MMI) shows that an overwhelming majority of military servicemembers have experienced credit card debt.
The poll of more than 2,000 U.S. adults, of which 269 are active-duty/veterans, shows 78% of U.S. adults, and 86% of active-duty/veterans, have been in credit card debt. Additionally, more than half (58%) of active-duty/veterans who have been in credit card debt have used some form of credit card debt relief.
U.S. Army veteran and MMI client Gennitha McLeod of Anniston, Alabama, knows all too well. She was a PFC for four years, and her spouse currently serves in the Army. They found themselves in more than $70,000 of debt, but thanks to the help of an MMI debt management plan, they were able to pay off the debt in just three years.
“When you’re in the military, the world is your oyster. There are so many different opportunities you can and do take advantage of. Unfortunately, it makes piling on debt very easy,” said McLeod. “I am so thankful I am completely out of credit card debt, and I plan on staying that way.”
“At MMI, we understand the financial challenges experienced by our service members and their families who are sacrificing so much for our country,” said Tara Alderete, Director of Enterprise Learning at MMI. “Our track record proves we can help reconnect them with the financial stability they deserve.”
Thanks to a generous grant from USAA, MMI will complete the transformation of its debt relief service to a fully mobile-first experience. The final product will make the entire experience easier for clients, enhance education, and maximize the impact of the program.
“If you find yourself in debt, try reaching out to an organization like MMI that is really on your side,” added McLeod. “For us, it made all the difference.”
Survey Method
This survey was conducted online within the United States by The Harris Poll on behalf of MMI from March 23-27, 2023 among 2,023 U.S. adults ages 18 and older, among whom 269 are active duty/veterans. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact thomas.nitzsche@moneymanagement.org.
About MMI
Money Management International (MMI) is changing how America overcomes financial challenges. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For 65 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
For reporters looking to interview real people for stories, MMI has created a group of nearly 300 clients from across the country who are willing to share their experiences with the media in the hopes of helping others challenged with debt. Our peer advocates have paid off $12 million of debt and now serve as MMI ambassadors. Hear from them on MMI’s podcast, Long Story $hort.
To schedule an interview with MMI’s Thomas Nitzsche, MMI client Gennitha McLeod, or any of our MMI Peer Advocates, please contact:
Thomas Nitzsche, 404.490.2227, Thomas.Nitzsche@MoneyManagement.org
Lori Geary, 404.551.2151, lgeary@lexiconstrategies.com
Thomas Nitzsche Money Management International 404.490.2227 Thomas.Nitzsche@MoneyManagement.org Lori Geary Lexicon Strategies 404.551.2151 lgeary@lexiconstrategies.com
