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Combating the ‘Nasty Niners’ What’s happening in WA State

Combating the ‘Nasty Niners’ What’s happening in WA State. Danielle Friedman Statewide Poverty Action Network. The High Cost of Being Poor in Washington State. Information compiled through focus groups and a community survey throughout WA

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Combating the ‘Nasty Niners’ What’s happening in WA State

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  1. Combating the ‘Nasty Niners’What’s happening in WA State Danielle Friedman Statewide Poverty Action Network

  2. The High Cost of Being Poor in Washington State • Information compiled through focus groups and a community survey throughout WA • Findings and policy recommendations released in a report • Focuses on four topics: Food, Transportation, Financial Services and Housing • Being used locally in communities to educate lawmakers and further policy agendas

  3. Ways to use the report locally • Hold a community event highlighting what is happening locally • Set up one-on-one meetings with families and lawmakers • Meet with local editorial boards and press • Be creative- Connect the report to issues and events happening in your area

  4. Alliance to Prevent Predatory Lending endorses the passage of fair and reasonable consumer protections on predatory lending that will reduce poverty and create safer and stronger communities in Washington State. www.noloansharks.org

  5. AARP of Washington ACORN Housing ACORN of Washington State Amer. Fed. of Government Employees 3197 Amer. Fed. of Teachers 1789 Asian Counseling and Referral Service Asian Pacific American Labor Alliance Asian Pacific Islander Coalition Associated Ministries of Pierce County CASA Latina Catholic Community Services of W. WA Children’s Alliance Church Council of Greater Seattle Coalition of Labor Union Women Consumer Credit Counseling Svs of Yakima Council on Aging and Human Services David Della, Seattle City Councilmember Dept. of Def., Defense-State Liaison Office Solid Ground Jean Godden, Seattle City Councilmember Larry Gossett, King County Councilmember Hunger & Nutrition Coalition International District Housing Alliance Intercommunity Peace and Justice Center League of Women Voters of Washington Legacy of Equality, Leadership andOrganizing (LELO) Low-Income Housing Institute Mike Lowry, Former WA State Governor Lutheran Public Policy Office of WA State Martin Luther King, Jr. County Labor Council Metropolitan Development Council - Tacoma Military Officer’s Association of America Minority Exec. Director’s Coalition (MEDC) National Association of Social Workers WA National Council of Jewish Women- Seattle Section National Military Family Association Next Church, Tacoma WA North Columbia Community Action Council Northwest Progressive Institute Northwest Women’s Law Center Office & Professional Empl. Int’l Union 8 One America Opportunities Industrialization Center – WA Pantry Shelf of Walla Walla Mario Paredes, Consejo Executive Director Pierce County Asset-Building Coalition Pierce County Human Service Coalition Lua Pritchard, Korean Women’s Assoc. Progressive Majority Puget Sound Alliance for Retired Americans Puget Sound Naval Bases Association Tom Rasmussen, Seattle City Councilmember Real Change Retired Public Employees Council, Chapter 3 Rural Resource Community Action Seattle/King Cty Asset Bldg Collaborative Seattle Women’s Commission Service Employees Int’l Union 775 Service Employees Int’l Union WA State Cncl Ron Sims, King County Executive South Sound Outreach Services Spokane Regional Labor Council Statewide Poverty Action Network Tacoma Goodwill The Military Coalition United Food & Commercial Workers 21 United Indians of All Tribes Foundation VOICES, Spokane Washington Association of Churches Washington Community Action Network Washington Fed. of State Employees 304 Washington Food Coalition Washington Homeownership Center Washington Low Income Housing Alliance Washington Responsible Lending Coalition Washington State Asset Building Coalition Washington State Building & ConstructionTrades Council Washington State Catholic Conference Washington State Coalition AgainstDomestic Violence Washington State Democratic Party Washington State Labor Council Washington State Trial Lawyers Association Washington State Unitarian UniversalistVoices for Justice Washington State Veterans Leg. Coalition WashPIRG Welfare Rights Organizing Coalition YWCA – Bellingham YWCA of Seattle- King- Snohomish county

  6. PAYDAY LENDING • New bills have just been passed to help stop the cycle of high-cost, long-term debt by giving you more options and time to repay your payday loans. • MORTGAGE LENDING: • Homeownership is a family’s most valuable asset and largest source of household wealth. • However, in recent years, abuses in the subprime lending market have offered a false promise of homeownership. • Lax underwriting practices, dangerous loan products, and disregard for affordability have set up vulnerable homeowners to fail. • As a result, many families with the most to gain from homeownership will lose their homes. • Refund Anticipation Loans (RALs) • Auto Fraud/Car Loans

  7. The New Payday Lending Law New law, effective Jan 1, 2010 protects you by: • Ensuring you have enough time to pay back loans: • At any time, you can request a longer repayment plan: 90 days for loans under $400; 180 days for loans over $400 • The minimum term of a loan is your next paycheck unless that is less than 7 days. If it is less than 7 days, the minimum term is your next following pay date. • Making sure you do not exceed the amount that you can reasonably pay back: • Loans can only be 30% of your income or $700, whichever is less. • Reducing the need for additional loans to pay back the original loan: • Lenders cannot legally loan individuals more than 8 loans in a given year. If you are unable to repay a loan, you can enter into a repayment plan instead of taking out a new loan.

  8. Effective July 26, 2009, new rules stop lenders from harassing customers • Lenders must limit the number of times they contact you to collect payment to no more than three times in a single week • They may not threaten, intimidate or embarrass you. Who is eligible? • Everyone who takes out a payday loan is eligible for the terms listed above. • If a lender is not following these terms, or if you feel that you are being harassed by your lender, contact the Alliance to Prevent Predatory Lending • appl@noloansharks.org or 206-300-0222. SPEAK UP! Thank your legislators for taking steps toward making payday lenders act responsibly. Tell them your story about how these new laws are helping you and your community.

  9. Mortgage/ Foreclosure Legislation • Option ARMs (Adjustable Rate Mortgages) will be resetting in April 2010 causing a whole new wave of foreclosures • GOAL: Help people stay in their homes • Legislation on the horizon: • Mandatory Mediation with a standardized test • Moratorium on foreclosures if unemployed

  10. Ways to get involved! • Join the APPL coalition • Identify folks to share their story • Get the word out -e-mails, newsletters, websites • Activate your networks to send postcards, e-mails and make phonecalls • Partner with us to reach out to the media • Invite us to do presentations

  11. Contact information 1-866-789-7726 www.povertyaction.org Danielle@povertyaction.org

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