Alumna informs and educates about bankruptcy prevention and smart fiscal pratcices
Alumna Linda Tirelli, a bankruptcy lawyer at Garvey, Tirelli & Cushner, Ltd. in White Plains NY, came to the University at Albany on Sunday Feb. 3 to educate students about the Credit Abuse Resistance Education (CARE).
Sorority Alpha Xi Delta, which Tirelli’s daughter Anya is a sister, presented the program, which aims to teach students in college tips and tricks about credit cards, and the best and wisest way to use them. Students learned how to manage their credit cards and keep them from ever “seeing the inside of a bankruptcy court” and were given individual advice from Tirelli herself, who’s career has her see the effect of bankruptcy on a daily basis.
“I will take a lot of the information given to me and use it in my everyday life. I will definitely regulate my spending, work on saving my money and build good credit for the future,” said Sophomore Natalie D’Aloia.
While some undergraduate students may still be lucky enough to be credit free, college is certainly the transition period before students are faced with the real word, which often means paying student loans and credit card bills.
Through Tirelli’s knowledge and the CARE program, students who attended Alpha Xi Delta’s program learned several tips on how to avoid letting their spending get ahead of them, especially when it comes to spending on cards rather than cash.
“It is imperative that every college student understands consumer credit – how it works, how to use it responsibly, what are the pros and cons, how to avoid pitfalls and how to build credit without a credit card. As of 2009, you must be 21 years old to obtain a credit card without a co-signer. Banks and credit card companies target and bombard each and every 21 year old they can locate with credit card offers,” she said, “but with the average college student graduating with $17,000-$27,000 of student loan debt, the added costs and harms of taking on credit card debts creates a slippery slope. The goal of the CARE program is to educate young consumers and empower them with information to make smart decisions.”
By the end of the program students many students left feeling informed about the use of credit, and walked away with new and helpful information. “I am very glad I attended this discussion,” said junior Christopher Barker.” Due to the eye opening and relevant subject matter presented. I think a lot of college students our age do not realize the importance of understanding how credit works, and how easy it is to take it too far. It was very nice to learn about some ways to avoid these problems, before we graduate.”