He executes justice for the oppressed and gives food to the hungry. The LORD sets prisoners free, the LORD gives sight to the blind, he lifts up those who are bowed down, the LORD loves those who live justly. The LORD watches over the immigrant and sustains the fatherless and the widow, but he frustrates the ways of the wicked. -Psalm 146:7-9

Monday, November 1, 2010

Grace Period-Because..real help don't hurt!



Kai-" mama, have you heard the story about why there are so many places around us that say "Pay day Loans? I know because daddy told me ...."

As I sat and listened to my 7 year old explain the story of predatory lenders, tears form in my eyes because I then wonder, do many people in my neighborhood know how this all got started and how they are being robbed? Probably not.

Each year an estimated $5 billion is robbed from those being "helped" by Payday Loan industry.


America's working poor are striped of hard earned income paying fees on small loans that average less then $350. ( on average they will spend $800 dollars on a loan of just $350)


19 Million Americans will access payday loans this year. 19 MILLION!!


The average payday loan borrower makes more than 7 loans annually.


Efforts to regulate the industry have increased Internet lending not curbed industry growth.

As I sat and heard these statics my heart just dropped. What the heck is going on!? It saddens me that the poor are being robbed like this. I have been wondering and researching for a year now as to how all this can be put to an end. While at the CCDA conference I sat in a seminar by a ministry called, Grace Period.

Grace Period is a club who's members willingly become contractually obligated to save. Using the pooled funds of savers to help others become savers, Grace Period is changing the cycle of financial dependence in its community.

Grace Period founding Concepts:
1. People with emergency funds do not need predatory lenders.
2.In exchange for immediate access to money, many borrowers will commit themselves to becoming savers.
3.Savers joining together create a lending pool.




Grace Period - Join The Movement from Patrick Drudy on Vimeo.

I am so thankful for the HOPE and HELP that is out here. God provides for our neighbors every need. Just when I think something isn't covered by HIM he shows me otherwise. He is so wise and so mindful of us and our communities. I cant wait for us to have a ministry like this in our hood. By God's grace,let's put an end to such lending and show this type of justice to all those around us.


For more information as to how you can launch this powerful ministry in your hood contact someone at the information below or visit their website.



Grace Period Inc.
623 E. Ohio Street
Pittsburgh, PA 15212
info@graceperiod.org
www.graceperiod.org/jointhemovement
412-322-3151