Monday Musings ... Loans & Smoke

Monday Musings  ... Tuesday edition

Webster’s definition of loan is money lent with interest or b:  something lent usually for the borrower’s temporary use.

Mortgages, car loans, and credit card bills, they are a part of life.  Depending on varied circumstances, individuals may be able to handle these loans as a part of a planned budget.   Others may struggle with loans. Maybe they don’t have a budget. In the past, they may have made poor choices. Or they simply do not have the income to meet their needs or wants.  Whatever the circumstances, they need help.

What happens when an individual is not able to make their payments? Where do they turn to for help? Do they seek help from family and friends?  Do they talk to creditors to make arrangements for adjustments? Or, do they try to ignore the problem?

In same cases, they go to Pay Day Loans. Here, they are able to apply for a loan at a high interest rate. If approved, the individual will receive a loan and make arrangement for payback.  In Kentucky, Pay Day Loans often have interest rates as high as 400 %

On Tuesday, BUILD* will have a press conference at our state capital to demonstrate that individuals across the Commonwealth of Kentucky support a bill that will put reasonable regulations on these loans in Kentucky. 

What is BUILD? BUILD is a faith-based effort of Catholics and Protestants that have worked on this issue for several years. This year, Senate Bill 32 in is committee. They simply want the bill to come out of committee and onto the Senator floor for a vote.

In addition, legislators are also dealing with a possible state wide smoking ban.

I hope both efforts don’t go up in smoke.

* BUILD Building a United Inter-Faith Lexington through Direction Action ... also visit this link BUILD  As you move around this site.   Click on BUILD