Jean Chatzky and Credit.com Announce Five Participants in the Debt Diet Challenge
SAN FRANCISCO, CA —June 27, 2011—Credit.com, a leading consumer education and financial resource website, announced today that five participants have been selected to embark on bestselling author and money expert Jean Chatzky’s Debt Diet Challenge.
Chatzky created the Debt Diet program with a team of behavioral scientists to tackle the problem of debt by looking at how people make healthy decisions in their lives (read a Credit.com article about the Debt Diet to learn more). The Credit.com editorial team will monitor the progress of the five participants, who are themselves deep in debt. The participants will blog about their progress and the efficacy of the program in general on Credit.com. Chatzky will also write about the program for Credit.com as participants go through it, and will be speaking to each of them about their progress regularly.
The five participants are:
1) Penny, age 52, married with two kids and four grandkids, from Arkansas. Her credit card and personal loan debt: $4,900; mortgage: $63,000; vehicle loans: $29,600; and her family’s annual income is $55,000
2) Melissa, age 39, married with two small children, from Massachusetts. Her credit card debt, 401(k) loan, personal loan: $99,100; vehicle loan: $18,000; and her family’s annual income is $217,000
3) Chris, age 57, divorced with two kids 20 and 34, from Iowa. Chris’s credit card debt: $6,400; mortgage: $29,000; vehicle loan: $12,500; and her family’s annual income is $77,000
4) Kimberly, age 33, married with one child age 4, from Texas. Her credit card debt: $37,200; student loan debt: $32,000; vehicle loans: $5,600; mortgage: $132,000; and her annual income is $103,000
5) Erin, 34, married with two kids, from Texas. Her credit card debt, personal loans, and retail debt: $41,000; student loan debt: $35,000; vehicle loans: $47,000; and her family’s annual income is $200,000.
The participants' progress and Chatzky’s advice can be monitored on Credit.com.
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