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Kentucky has become surprisingly cutting edge in terms of helping out domestic violence victims.
From Women’s E-News:
The Kentucky Domestic Violence Association has extended interest-free microloans to 41 women throughout its 15 member organizations since 2009. The loans are pegged to savings accounts that match every dollar saved with two dollars, doubling the financial lift.
While the interest-free loan is truly micro–typically between just $200 and $800 –it can provide a crucial financial boost, enough to help a woman fleeing abuse meet the first month’s rent on an apartment or pay for transportation to a new job. At the same time it can protect her from a predatory or “payday” lender that can charge interest rates that go as high as 400 percent, taken annually.
So let me see if I understand this correctly. Women escaping a bad domestic sitch are getting money. From a Domestic Violence Association. In Kentucky. Okay, it’s official, I guess I’m moving there …
What’s even more notable about this program, funded by over $200,000 in grants from the Allstate Foundation of Northbrook, Ill., is that survivors are getting their repayments monitored by credit bureaus that usually won’t report these types of non-traditional loans.
That means the women not only get crucial cash in hand, their repayments are also helping to generate and improve credit scores, essential for such personal-finance basics as renting an apartment or buying a car.
The safety advocacy group has managed to report their microloans to credit bureaus by working through the Credit Builders Alliance, a 4-year-old Washington-based group assisting the nonprofits that serve low- to moderate-income individuals to build their
credit and access conventional financing.The Credit Builders Alliance has 100 members that offer microloans. All the loans are reported to Experian, based in Costa Mesa, Calif., and TransUnion of Chicago, two of the three major credit bureaus.
So, wait a minute here. A year ago, I lived in a four-bedroom/four bathroom house. I had a walk-in closet. My children could ride their bikes around the block. The lilacs smelled like heaven in the spring. I am now living in the attic of my mother’s barn (it’s bad to live in an attic and bad to live in a barn, but combine the two, and …). My credit has been shot to shit by the shenanigans my ex-husband was pulling in the months leading up to our divorce. I was a victim of domestic violence (the ex was a decent guy in general, but Dr. Hyde came out in full force when he drank). You know, I could use a “microloan” … but does that mean I have to move to Kentucky?
I mean, I work a full-time job. Like, a good job with health and dental and life benefits and a solid retirement plan. My children do not go without clothes or food. However, I can’t seem to find a way out of this attic/barn scenario where I share a tiny room with a six-year-old and the contents of the aforementioned four bedroom/four bathroom house. Is this fair?
And while I’m on a diatribe, I might as well go here as well. Food stamps. TANF or AFDC or whatever they call it now. Healthy Kids Gold or Medicaid or whatever free health care is out there. Why is it that so many people receiving these services are living a much higher quality of life than I am in terms of money and expenses? It kind of makes me want to get pregnant, find an apartment in the projects, and quit my job because then, I could sit around and read books all day and not bang my head (every single morning) on the low-sloping eaves ceiling.
Okay, where was I? Oh yeah, I’m moving to Kentucky to get a microloan. I, uh, just need to get a little more clarification on the selection process first.
Good plan?
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You know Katie, I hear you loud and clear. It’s wonderful that some women that need the help can get it, but…..
I also worked my ass off to support 2 kids. We did rather well, they are both somewhat well adjusted (lol). I always said, “why am I not one of these women that just applies for welfare, food stamps and get assistance.” But No, I had to work myself to death to get by. And I’m glad I did.
I really think the difference comes down to the intelligence of the women. I really hate to say this, especially on a feminist site, but I’ve met many women that just don’t have the brains or commen sense to figure out a situation and get out of it. I currently have a friend in this circumstance. She just doesn’t get it. Sometimes I feel so bad for her and other times I just want to smack her up side her head.
To be fair, while there are people who are lazy or stupid, there are also people who just genuinely have no money because they had to cut and run on a life that was bad for them. Sometimes even the smartest of us don’t have the street smarts to get through times when we’re essentially homeless, penniless and have nobody to turn to.
It’s Mr. Hyde, Dr. Jekyll was the doctor who developed the serum that turn himself into a monster. The monster, Mr. Hyde lacked a Medical Degree. I think the micro-loans are a good thing, anything that give folks a chance to stand on there own feet and not become dependant on the system is good in my book. But I can see how “claim DV=cash and a credit boost” has the potential for abuse (granted I am making the there are women who would abuse the system). But then again if you are a DV group and want to show how prevalent DV is offering cash and a credit boost for claiming DV might be in your best interests. Or am I just being to cynical?
Um, welcome to an unfair world where different places can do different things, and a great idea in Kentucky is an excellent example for other places, but not immediately mandatory?
Good luck with getting things together.
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Too many women stay in domestic abuse situations because they can’t afford to leave and don’t want to live on the street. I’m glad these microloans exist.
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