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Driven by the vision that everyone needs a decent place to live, Habitat for Humanity partners with people to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Unfortunately, Habitat is seeing many potential homeowners unable to qualify because of other loans they have taken out that keep them trapped in debt.

Across the country, there are lenders who are taking advantage of people through predatory lending practices involving payday loans, vehicle title loans, and other short-term high-interest debt, with interest rates as high as 350% and beyond. Such loans are often marketed as one-time “quick fix” for people facing a cash crunch. In reality, they can create a long-term cycle of debt that quickly becomes unaffordable.

There is a way to stop that debt trap that is fair to both lenders and borrowers – and Habitat is taking action to support it.

Predatory lending undermines everything we stand for: stability, strength and self-reliance. Use the form below today to tell the CFPB that you support ending predatory lending. Feel free to personalize the message or send it as-is. No matter what, your voice matters.

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Message

Tell the CFPB: Stop the Debt Trap

Dear  

I believe that loans should be fair to both the borrower and the lender. Financial stability provides a foundation for physical health, emotional well-being and opportunities throughout a person's life. I believe that a cycle of unaffordable debt that keeps people trapped in poverty has no place in this country.

That is why I call on the CFPB to adopt a rule to end predatory lending practices that makes sure that lenders don't make loans that they know a borrower cannot repay.

The rule to address payday lending must include an "ability to repay" standard.

Thank you for taking action to ensure payday and other short-term, small-dollar, high-interest loans don't take advantage of people and trap them in a cycle of debt.

Sincerely,
[Your Name]
[Your Address]
[City, State ZIP]

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