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Family Debt Relief Trust
and
Development
Debt is the worst poverty -
The proverbial saying of Clarke, “out of debts out of danger”, expresses the dangerous condition of those families and nations under the burden of debts. Debt condition is graphically described almost in all the cultures, as debt burden, debt pit, debt trap, clutches of moneylenders, scourge of usury etc... the existing number of proverbs and expressions relating to debt reveal the intolerable sufferings of humiliation and depression being undergone by families and nations.
Family debt -
The burden of family debt more than national debt gives a burden of fear and depression to all the members of the family. It affects the development of the individuals in such families. Hence the individuals and societies concerned for the poor and needy have the responsibility of giving urgent relief to the families suffering under the burden of debts as they give relief at the time of war, fire, flood, earthquake, tsunami, etc.
Urgency of the family debt relief:
- In india the evil of usury is ‘very great’ as mentioned in the catholic encyclopedia but the awareness and response is very little. out of 200 million families at least 50% i.e. 100 million families are estimated to be in debt with high interest.
- Perceiving debt as the worst poverty and slavery we have organized in our area (pondicherry, cuddalore & villupuram) around 700 self-help groups with 20 members each, totally 14,000 members (families) out of whom 50% (i.e. 7000 families) are in the bondage of usury. with their small savings, families with small debts are redeemed.
- For redeeming families from huge debts, we have started a charitable trust called “family debt relief trust” (fdr trust) to mobilize debt relief revolving fund to reduce, to defer and even to cancel the debts when it is necessary.
- In the jubilee year, holy father pope John Paul II encouraged our efforts of combating debts as “unique approach and donated a sum of us $ 5000 to continue this ever important commitment to promote human and christian development in the spirit of collaboration and sharing found in the gospel.”
- For the 7000 families mentioned in no 3, the fdr trust is mobilizing a debt relief revolving fund at the average rate of euros 400 per family. When the fdr trust starts receiving funds it will utilize the fund to transfer the debts from the moneylenders with the highest rate of interest.
- The funds will be rooted through the Archdiocese of Pondicherry-Cuddalore
sb account a/c. no: 9549
Indian Overseas Bank (IOB)
No. 250, Jawaharlal Nehru Street
Pondicherry 605012
or
through iob swift code: iobainbb001 - The Archdiocese of Pondicherry-Cuddalore as legal holder of all the projects will transfer the fund to the fdr trust, the project-holder.
- The project will be implemented through the efficient and experienced staff of the fdr trust in collaboration with the self-help groups. A utilization report and statement of the accounts will be sent to the donors periodically.
This organization has informed us they are qualified to receive tax deductible contributions.
Send Family Debt Relief Trust an email.
