What We Do
& Title Loans
Payday loans have become the face of predatory lending in America for one reason: The average interest rate on the average payday loan is 391%.
And that’s if you pay it back in two weeks!
If you can’t repay the loans – and the Consumer Financial Protection Bureau says 80% of payday loans don’t get paid back in two weeks – then your interest rate soars to 521% and continues rising every time you can’t repay the debt.
Compare that to the average interest rate for alternative choices like credit cards (15%-30%); debt management programs (8%-10%); personal loans (14%-35%) and online lending (10%-35%).
Payday loans are a quick-fix solution for consumers in a financial crisis, but are budget busting expenses for families and individuals.
The Community Action Poverty Simulation (CAPS)—an interactive, immersion experience— is owned by the Missouri Community Action Network. The simulation provides a glimpse into the structural barriers of poverty to transform participants’ perspectives about their own communities. These transformed perspectives inspire action toward positive community change. If you are interested in learning more about the Community Action Poverty Simulation or purchasing a CAPS kit license, please visit communityaction.org or povertysimulation.net.