Addressing Debt in Black Communities
Prosperity Now, one of this country's premier national organizations dedicated to expanding economic opportunity for low-income families and communities has just published a rigorous study called Addressing Debt in Black Communities. Restoration is proud to have been one of three community development organizations that worked for two years on the research required to create this comprehensive study. The burden of debt is one of the most onerous features of the racial wealth divide and arises from low-wage employment, the high cost of housing, the lack of inherited wealth, the price of education and the high-interest credit that is required to survive in these circumstances. One of the most important things we do as an organization is to use financial counseling to break the yoke of debt and help clients move to financial stability and build assets.