Credit card debt is at an all-time high, and families in Georgia are among those struggling the most.
A recent study by WalletHub finds that Georgia residents are among those taking the longest time to pay off that debt. The Atlanta Dream is trying to change that.
The Dream’s season just wrapped up, but the team is still living up to its name, helping more than 3,500 families achieve their dream of financial freedom.
The WNBA team partnered with Cash App and ForgiveCo to eliminate $10 million in debt for families around the city.
The forgiven debts range from $500 to $80,000.
The Dream worked with ForgiveCo to identify families in some of Atlanta’s most financially burdened communities. They then acquired debt at a reduced rate and wiped the balance clean.
A debt relief blessing for an Atlanta woman
Angel Stevens moved to Atlanta with big dreams of starting a company doing what she loved.
“I was in my element here,” she said. “I taught boxing to seniors who had Parkinson’s.”
She’s been working and trying to save money.
“Just because I can go out and buy it doesn’t mean I could afford to do it, but it’s like, OK, well, I made enough so that can cover it. But how much are you saving? What do you have for a rainy day?” Steven said.
Angel Stevens is one of thousands of Atlanta families who had their medical debt wiped out by the Dream.
CBS News Atlanta
Stevens struggled with debt for years. Then one day, she received a text message saying that more than $1,500 in medical debt she owed had been paid off. It reminded her of something her grandmother said.
“You never know what somebody is going through, right? And you never know when you’re going to need a blessing,” she said.
For Stevens, this relief brings her closer to the life she’s always wanted.
“That’s would be the goal to be so wealthy. I just don’t mean financial wealth either. I want happiness, and I want joy, and I want, as my granny would say, ‘it’s the fruits of the spirit,'” she said. “I want all of that. And that’s that’s a goal. It starts with me first.”
More medical debt relief on the way
“This is financial freedom, which could mean a lot of things,” Dream spokeswoman Traci Messier said. “It could mean starting a business. It could mean going back to school. It could be buying a first home, but it also could be putting food on the table for a family,” Messier said.
This isn’t a program you can apply for, but the Dream is planning to do more debt relief in the community, which means more families will get the call in the coming months.