(BPRW) Experian Relieves $5M in Consumer Debt with ForgiveCo Among Families in Louisiana

LSU basketball star and rapper Flau’jae Johnson to champion financial empowerment in the Louisiana community

(Black PR Wire) COSTA MESA, Calif.–(BUSINESS WIRE)– Experian® announces it is relieving $5 million of consumer debt among 5,000 families in Louisiana, building on the company’s commitment to help consumers improve their financial health. As part of the effort, Experian is teaming up with Flau’jae Johnson, a junior guard for the Louisiana State University (LSU) women’s basketball team, to promote financial literacy and share her story managing finances as one of the top collegiate athletes with Name, Image, and Likeness (NIL) deals.

With the college basketball tournament right around the corner, Johnson will not only be aiming to win for her school, but also for Louisiana families. For every LSU victory in the tournament, Experian will relieve an additional $100,000 in consumer debt (up to $500,000 total). Fans can help cheer the team on and see videos with Johnson by following Experian and Johnson on social media:

Experian:

Flau’jae Johnson:

“It’s hard to create a winning financial game plan when you are blocked by debt,” said Flau’jae Johnson, LSU guard. “I am excited to partner with Experian to empower families in the state and across the country so they can become financial champions of their future.”

As reports show that consumer debt is at an all-time high, Experian has engaged ForgiveCo, a Public Benefit Corporation (PBC), to administer the acquisition and cancellation of qualifying consumer debt for the selected beneficiaries in Louisiana, one of the states with the highest percentage of poverty in the U.S., according to the U.S. Census Bureau.

“Unmanageable debt prevents consumers from achieving their goals,” said Dacy Yee, president of Experian Consumer Services at Experian. “During these challenging economic times, Experian offers resources that can help consumers save time and money as well as improve their overall financial health. We hope this debt relief and access to Experian tools will help beneficiaries in Louisiana move towards a healthier financial future.”

To further assist beneficiaries, the families will also get a free one-year premium Experian membership, which includes access to their Experian credit report, FICO® Scorei, credit monitoring with all three credit bureaus, access to CreditLockii, and assistance with canceling subscriptions and negotiating bills for lower rates iii.

Individuals without an Experian credit file due to no or limited credit history can join the credit system through Experian Go. This innovative, free program enables participants to create an Experian credit report directly and access to Experian Boostiv to add payment history for eligible bills, like rent and utilities, potentially generating their first FICO® Score.

Experian programs helping communities make financial slam dunks

Experian has several initiatives that empower consumers of various backgrounds. Programs include its #IYKYK HBCU Pitch Competition powered by the B.A.L.L. for Life initiative that connects African American and Hispanic youth with financial education, supporting scholarships for Asian Americans through the Ascend organization, providing custom resources for Out & Equal and Born This Way Foundation for the LGBTQ+ community, supporting the NextGen Innovation Lab for Disability:IN, sponsoring credit counseling for the military community with Operation HOPE, and sponsoring UnidosUS and its Financial Empowerment Network (FEN).

Experian Consumer Services aims to achieve Financial Power to All™, helping consumers achieve their financial goals through establishing and building good credit, providing access to personalized financial products, aiding them in taking control of their bills and debt, helping protect them from identity theft and fraud, and saving them time and money along their financial journey.

For more information about the debt relief initiative, visit experian.com/relief.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

i Credit score calculated based on FICO Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.
ii Experian CreditLock is a separate service from Security Freeze. Learn more about the differences between Experian CreditLock and Security Freeze.
iii Results will vary. Not all bills or subscriptions are eligible for negotiation/cancellation. Savings are not guaranteed, and some may not see any savings.
iv Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost®. Learn more.

Source: Experian