Pay Day Loan Reform Letter Writing Campaign
January 18, 2018, 2:54pm
The Missions, Peace, and Justice team invite you to make your voice heard via this Sunday's (1.21.18) Letter Writing Campaign:
BILL SB 138- the 30 days Bill. The 30 Days to Pay bill will make a minor change to existing law by adjusting the repayment period for payday loans to 30 days. This bill will: • Give Alabama’s payday borrowers more time to manage their financial resources over the course of the month and repay loans on time; • Reduce the rate at which interest grows and fees pile up, thus reducing the number of debt traps; and • Place payday loans on the same monthly repayment schedule that is typical for virtually all other bills, including rent, utilities, mortgages, and student loan bills.
WHAT: Letter Writing Campaign
WHEN: This Sunday, Jan. 21st, following worship
WHERE: Session Rm.
SUBJECT: Pay Day Loan Reform
BILL SB 138- the 30 days Bill. The 30 Days to Pay bill will make a minor change to existing law by adjusting the repayment period for payday loans to 30 days. This bill will: • Give Alabama’s payday borrowers more time to manage their financial resources over the course of the month and repay loans on time; • Reduce the rate at which interest grows and fees pile up, thus reducing the number of debt traps; and • Place payday loans on the same monthly repayment schedule that is typical for virtually all other bills, including rent, utilities, mortgages, and student loan bills.
WHAT: Letter Writing Campaign
WHEN: This Sunday, Jan. 21st, following worship
WHERE: Session Rm.
SUBJECT: Pay Day Loan Reform
