Vote Yes on the Predatory Debt Collection Protection Act
The Arizona Public Health Association urges you to vote Yes on the Predatory Debt Collection Protection Act.
Why would a nonprofit organization dedicated to improving public health be interested in a voter initiative about debt collection?
It’s simple. Because families need to earn have a living wage and enough money and resources to provide a sturdy environment and make healthier choices. In fact, having adequate resources is the number one determinant of the health status of a family.
The Predatory Debt Collection Protection Act doesn’t give people in debt a ‘free pass’. Far from it. But it does level the playing field so people will have an opportunity to pay back their debts without spiraling into poverty.
The Predatory Debt Collection Protection Act brings Arizona more in line with the recommendations provided by the National Consumer Law Center, enabling people in debt to pay off what they owe without losing their ability to meet their daily living needs.
For example, it limits the amount of wage income that can be garnished to 10% or less of disposable earnings so that families don’t get pushed below the federal poverty level.
Right now, 25% of a person’s wages can be garnished, even if it sends them under the poverty limit. It also limits interest rates on medical debt to 3% so families don’t get trapped in an unending cycle by sky-high interest rates.
Working and middle-class families will also be protected from predatory debt collectors taking their homes and cars because it includes common-sense updates to state law that account for the rising costs of homes and cars. For example, it increases the “homestead exemption” to $400,000 so that people don’t lose their home.
Please do the right thing. Vote Yes on the Predatory Debt Collection Protection Act