We provide care and create hope for people across our 38-county service area by offering:
Do you ever feel overwhelmed by your finances?
Catholic Charities of Central and Northern Missouri is now enrolling families in the Predatory Loan Relief program. Through this program, you can receive individualized budget coaching, financial education (one-on-one coaching or group sessions), referrals to other community support resources (such as our client-choice Food Pantry and Housing Counseling), and loan refinancing options. Our research suggests individuals are in a place of “financial well-being” when they:
- Have control over their day-to-day and month-to-month finances
- Have the ability to absorb financial shock (or emergencies that cause financial strain)
- Are on track to reach the financial goals they have set for themselves
- Have the financial freedom to make choices that allow them to truly enjoy their lives
Research and experience tell us that in addition to a knowledge component, financial literacy has an action component: the ability or skills to put financial knowledge to use.
Knowing this, in order to achieve financial wellness, a mixture of both knowledge and practice can help individuals:
- Find reliable information to make financial decisions
- Execute financial decisions, adapting as needed to stay on track with financial goals
How predatory lending impacts financial wellness
Predatory loans can perpetuate a cycle of financial strain, as they often include terms that are unfair or deceptive. Telling signs of a predatory lender include aggressive solicitations, excessive borrowing costs, high prepayment penalties, and encourage debt accrual and loan "flipping."
CCCNMO (in conjunction with a community banking partner) is taking a stand on predatory lending by offering a refinance program for payday and title loans.
The Predatory Loan Relief program issues participants a new, low-interest loan in order to pay off the high-interest title or payday loan balances. Eligibility and program requirements include:
- The total amount of payday or title loan(s) must not exceed $2,700
- Clients must have stable, traceable income
- Client budgets must reflect the ability to make monthly loan payments
- Clients agree to case management and financial coaching for the duration of the loan
- Completion of financial education courses is mandatory
Share this work with others
Would you like to share this program with your parish or community? Contact us at info@cccnmo.org to request promotional materials or discuss outreach opportunities.
Catholic Charities of Central and Northern Missouri
Main Phone Line:
573-635-7719
JEFFERSON CITY
1015 Edmonds Street
Jefferson City, MO 65109
COLUMBIA
1240 E. Brown School Rd.
Columbia, MO 65202
SEDALIA
421 West 3rd Street
Sedalia, Missouri 65301
Diocese of Jefferson City
Chancery Offices
2207 West Main Street
Jefferson City, MO 65109
Phone: (573) 635-9127
diojeffcity.org