The Chris Hope Foundation (CHF), a nonprofit organization providing financial and social support services to families of children diagnosed with pediatric cancer and other childhood illnesses, today announced its partnership with The Financial Act (TFA), a 501(c)(3) organization that promotes economic empowerment for vulnerable individuals and families across the country.
The partnership between CHF and TFA will provide financial education and credit repair services at no cost to parents with a child being treated at St. Jude Children’s Research Hospital or Le Bonheur Children’s Hospital.
“We know all too well the crippling impact a chronic illness can have on families,” said Chris Hope, founder of CHF. “Statistics from the National Children’s Cancer Society suggest as many as 15% of families whose children receive a cancer diagnosis enter poverty during the course of treatment. This new partnership with The Financial Act will go a long way toward helping families conquer the resulting money struggles, and help get their credit back on track for the future. We’re thrilled to be joining forces with this organization.”
The Financial Act’s goal is to eliminate poverty through free-of-charge, targeted economic initiatives and programs that focus on personal empowerment. Its educational workshops include credit restoration, debt management, entrepreneurship and business plans, home buyer education, retirement planning and credit education aimed at young adults and their parents. Given that medical debt is the leading source of financial hardship in the United States, with 69% of bankruptcies and 35% of credit card debt tied to healthcare expenses, TFA’s specialized program, Medical Bill Help, also provides assistance with eliminating medical bills.
The organization’s partnership with the Chris Hope Foundation will focus on households in possible bankrupt status, and whose incomes are less than two times the federal poverty level guideline.
“Our guiding philosophy is that knowledge should be freely given to those who need it most,” said Dr. Mellinda DePriest, Ph.D., founder of TFA. “It is an incredible honor to work with the families of the Chris Hope Foundation to help them regain financial control in their lives, allowing them to place their focus where it’s needed the most: the healing and recovery of their precious children.”
More information about The Financial Act can be found at https://thefinancialact.org/.