Every day, struggling families in our faith communities are caught in a vicious trap. Seeking a way to meet an emergency need or simply make ends meet, they take out a payday or title loan. Rather than help, the loans trap them in a cycle of debt, with interest and fees often exceeding 700%. More and more of their paycheck goes towards payments, but the loan is never paid off. Their financial and emotional desperation turns into destitution as they lose their cars, homes, and hope.
In 2014, families in the Dallas region paid over $200 million in fees to payday and title lenders. 155 cars were repossessed a week.* As a faith community, we can put an end to this kind of predatory lending.
Join Faith in Texas and the Anti-Poverty Coalition for a free lunch on Tuesday, February 16, 12:00-1:30pm, at Christ Community Church, at 701 E. Centennial Blvd., Richardson TX 75081. You will receive a briefing on the payday and title loan problem, tools to minister to borrowers in your congregation, and information on how you can help put an end to the debt trap at the local and federal level. Clergy and lay leaders from all denominations and faith traditions are welcome.
Please register in advance! Admission is free. We invite you to make an optional donation to support this effort. To give by credit card, please provide your billing address.
Faith in Texas is a multi-racial faith movement for social justice. It is part of the PICO National Network, the nation's largest network that develops civic leadership in low and moderate-income faith communities for social justice.
The Anti-Poverty Coalition of Greater Dallas strives to unite the entire community around identifying and eliminating barriers preventing families from moving out of poverty and into financial sufficiency.
*According to data from the Office of Consumer Credit Commission for the Dallas-Plano-Irving Metropolitan Division