It is not enough to be compassionate. you must act. -the dalai lama
1 in 6 car-title borrowers lose their car when they take out a car-title loan. And they still pay triple digit interest rates plus fees for the privilege of taking out a loan.
Car-title lenders bleed $4 billion from borrowers in the US every year, while only lending out $2 billion.
New Hampshire allows a 300% interest rate on car-title loans and EVEN THOUGH vermont has an 18% interest rate cap, Vermonters can cross the border and take out loans in New hampshire.
UVIP is building a network of community members who believe in our fight for a responsible lending practices, and increased economic equality, but don’t have a ton of time to commit to the cause. When you join 5 Minute Friends you will receive a monthly email explaining a simple but powerful task you complete in 5 minutes that will help advance our economic justice mission. This might be signing a petition, emailing your congressperson, or posting your picture to Facebook. Every small action helps!