Quick Exit
News and Events
News and Events Home > Survivors Have Access to Credit Building Through Micro-Lending
Survivors Have Access to Credit Building Through Micro-Lending

The National Network to End Domestic Violence, in partnership with Verison, has established a program for survivors to improve their credit score through a micro-lending program. The Independence Project is a resource for advocates and domestic violence programs across the United States to work with survivors who have experienced financial abuse.

Financial abuse occurs in most instances of domestic violence and includes withholding money, sabotaging employment, identity theft and ruining credit. Long after leaving an abusive partner, the long-term effects of a damaged credit score can create barriers for survivors seeking to secure basic necessities such as housing, a car loan, or even employment.

The Independence Project is a non-fee, non-interest loan designed to help build credit. NNEDV tracks repayment and reports to the three credit bureaus. Timely payments could result in as much as a 50-point increase in a credit score. The difference between a 650 credit score and a 700 credit score could mean easier access to bank loans, or lower interest rates, purchasing a cell phone, or securing housing.
Comments 0 Rating: Be the first person to rate this post.
COMMENTS

You will be the first person to comment on this post.

PLEASE LEAVE US YOUR FEEDBACK

First Name:
Last Name:
Email:
Comment: