While clearing the pathway out of poverty, we are working to secure hard-fought gains from predators along the way by bolstering consumer protections. Predatory lending is a persistent threat to the financial stability of Washingtonians living on low incomes. When struggling to navigate the pathway out of poverty, many have to use credit to meet their basic needs like rent, groceries, and utility payments.
Field Notes:
“Debt Sucks. I just hang up on the debt collectors. I have to take school loans out because I don’t make enough money. As much as I’m trying to get ahead, I’m really not. I’m basically robbing Peter to pay Paul just to survive.
–Spokane Listening Session Attendee, 2023
For many people struggling with debt, bank account garnishment is a devastating blow. State law protects $2,000 from garnishment, but only $1,000 is protected without having to navigate a complicated legal process to get back funds illegally garnished by collectors.
Instead of asking families already struggling to make ends meet to climb another uphill path, a basic amount should be automatically protected to ensure that folks can meet their basic needs while living in debt.
What We’re Doing About It
Automatically protecting $5,000 from bank account garnishment and ensuring that the protected amount automatically increases with inflation.
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