On Monday night, our second round of the Debt Annihilation Team officially commenced. Our first group launched in 2010 with five people - nine lines of credit totaling over $22,000 in consumer debt. With $8,000 of seed money, our plan would save thousands of dollars in interest to credit card companies, expedite freedom from debt, and teach a number of healthy financial habits and understanding through being formed into a little community within our church. This first group, whom we affectionately referred to as the "astronauts," took a lot of risks and courageously demonstrated that our ideas can work. We learned a lot along the way as people grew, their situations changed, and four of the five made it to the finish line and are nearly complete replenishing the seed fund - which will be most of the money we need to prospect for a third group.
Our second group, now underway, is five people again. This time with nine lines of credit and over $26,000 of consumer debt. Our $10,000 seed fund and improved relational structure would save over $7,000 in interest to predatory credit card companies over the next two plus years. After 21 months, the debt will be erased. After 38 months, the seed fund will be replenished for a future group to use. In July, we'll have our first meeting hosted by one of the Group members, a simple meal at their home to help foster love and enjoy hospitality and generosity as part of Christ's antidote to shame and scarcity.
Keep the Debt Annihilation Group members, their Everence-trained coaches, and our administrators in your prayers as we take some huge swipes at bondage while taking strides towards more freedom together.
