A new non-profit disrupts predatory lending, launches scholarship
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Their mission is centered around debt forgiveness and financial education

CHICAGO - illiNews -- The consumer debt crisis currently sits at $14 trillion and rising; Debtless was founded to disrupt this system. As an organization, Debtless fundraises through a variety of different mediums to purchase debt portfolios with the most impact on the community and forgives the debt. Each individual debtor is notified when their debt has been forgiven, and Debtless will then be able to provide support for their next steps to achieve financial stability and maintain their new debt-free status.

Founded in 2019, Debtless seeks to establish a more equitable future for those most vulnerable to the predatory lending system. "When one more marginalized person becomes debtless, we as a society become more equitable." Said Fanny Fang, Board Member of Debtless.

With a focus on ending predatory lending and debt forgiveness, this is a unique non-profit that works to provide resources to those most at risk and establish healthy money patterns that prevent future debt. And now they plan to do even more. With the launch of the Angela Dorsey Bedford Scholarship, Debtless is now seeking to stop more debt before it starts. This scholarship offers tuition assistance to applicants who can demonstrate a commitment of service to their community despite hardships and societal barriers. Debtless is accepting applications for this scholarship through October 17.

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"Debtless was founded from a personal place, as both myself and my Co-Founder experienced the pressures of debt, we wanted to make sure that others were able to receive the relief that we didn't have access to." said Tina Tang, Co-Founder of Debtless

Want to help? You can make a difference. Be a part of the path for hundreds of thousands of Americans on their road to financial freedom. There are multiple ways to help our mission; here is where you can start:
For more information regarding Debtless NFP please visit https://www.debtlessnfp.org/

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Connect with us on LinkedIn (https://www.linkedin.com/company/debtlessnfp) and @debtless_nfp on Facebook (https://www.facebook.com/Debtless-108412871348741), Twitter (https://twitter.com/debtless_nfp) and Instagram (https://www.instagram.com/debtless_nfp/).

Rebecca Williamson

Source: Debtless NFP
Filed Under: Non-profit

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