Strength in community — Supporting families facing hardship

As Catholics, we are called to help those who are struggling.”

Tessa McIntyre, financial stability specialist for Catholic Charities of Central and Northern Missouri

MaryAnn, unable to work due to illness, couldn’t afford the prescription medicine she needed.

With bills piling up, she turned to a predatory lender for a quick loan.

What seemed like a temporary fix quickly became unmanageable, trapping her in a cycle of debt while struggling to recover and cover basic medical expenses.

Life is full of unexpected challenges — vehicle emergencies, job loss or the rising cost of living.

This often forces families to seek financial assistance wherever they can.

Unfortunately for many, this means turning to predatory loans with outrageous interest rates, trapping them in a cycle of debt that is nearly impossible to escape.

In the U.S., payday lenders charge an average annual percentage rate of 391%, with some rates exceeding 1,000%.

According to the Consumer Financial Protection Bureau, approximately 12 million Americans use payday loans each year.

Predatory lenders target vulnerable individuals with low income, poor credit or urgent needs by offering quick loans with crippling high-interest rates.

A Federal Reserve study shows one-third of Americans would struggle to cover a $400 emergency without borrowing.

Loans like payday and title loans can quickly spiral, turning a $500 loan into $2,500 due to compound interest.

As the debt grows, it limits their ability to afford even basic necessities.

This cycle is not only a financial burden but also an emotional and spiritual strain.

Additionally, 60% of payday loan borrowers end up rolling over their loans or taking out new loans to pay off the old ones, which only increases their debt.

Many feel hopeless, ashamed and isolated, and research shows that debt often leads to anxiety, depression and relationship stress.

As a community, we must show them they are not alone and there is a way out.

At Catholic Charities of Central and Northern Missouri (CCCNMO), we address both the immediate crisis and the root cause.

Our Predatory Lending Relief Program provides relief and empowerment to individuals impacted by predatory lending practices, equipping them with tools to achieve financial stability and independence.

By partnering with banks, we help refinance predatory loans with low-interest alternatives, making payments more manageable.

Clients also enroll in financial education classes, gaining skills in budgeting, goal setting, debt repayment, credit building and saving for the future.

These programs align with the Church’s mission to uphold human dignity and promote economic justice.

We also refer clients to agencies for support with resume writing, employment opportunities and affordable housing.

As Catholics, we are called to help those who are struggling.

We can do this by offering spiritual and emotional support, but practical support is just as important.

One powerful way to do this is by contributing to programs like our Predatory Loan Relief Program, that help families break free from the predatory lending trap.

Additionally, you can volunteer your time to help with financial literacy classes and workshops, equipping others with the knowledge to overcome financial challenges.

Studies show that financial literacy programs can reduce the likelihood of individuals falling into high-interest debt by 40-50%.

Furthermore, you can advocate for ethical lending practices by speaking out in your community and pushing for stronger consumer protections.

Through the generosity of our spiritual community, we provide relief and restore financial stability to those in need.

Matthew’s story is a powerful example of transformation.

After facing a financial crisis due to a vehicle emergency, Matthew turned to high-interest loans that quickly became unmanageable.

Overwhelmed and seeking relief, he applied for our Predatory Loan Relief Program.

Matthew secured a lower-interest loan and, with the added support of our pantry, was able to manage other expenses.

With reduced financial stress, he focused on career growth, earning a promotion and higher pay.

Six months later, Matthew reached a major milestone — closing on his first home.

His journey underscores the power of financial relief, community support and perseverance in building a secure future.

While this program is effective, it depends on the community’s generosity to continue and expand our mission into all 38 of our mostly rural counties.

With your ongoing support, even more families can break free from the cycle of debt and build a brighter future.

In Luke 6:38, Jesus says, “Give, and there will be gifts for you: a full measure, pressed down, shaken together, and overflowing, will be poured into your lap; because the standard you use will be the standard used for you.”

When we give to programs that help those in financial crisis, we reflect God’s love and mercy.

Predatory lending exploits society’s most vulnerable, trapping them in financial crises and emotional turmoil.

But through the power of community and faith, we can offer solutions.

Standing together, we embrace the call to love our neighbors and care for the least among us.

Let us act in faith, generosity, and compassion, because no family should have to face hardship alone.

Client names have been changed to protect their identity.