Debt Relief Loans
The Phoenix Debt Relief Fund
The Phoenix Debt Relief Fund offers interest-free loans of up to $18,000 to members of the Jewish community in Miami-Dade who are struggling with high-interest debt. This unique initiative combines immediate debt relief with long-term financial empowerment. Borrowers receive not only the funds they need to consolidate and manage debt, but also personalized financial coaching through Branches - a Florida-based nonprofit that empowers families through financial coaching and education to help them build stability and achieve long-term goals. Participants work one-on-one with trained financial coaches to build budgets, create repayment plans, and develop lasting money management skills.
By pairing interest-free lending with expert guidance, the Phoenix Debt Relief Fund helps individuals break free from the cycle of debt and move toward lasting financial stability and independence.
To qualify, applicants must:
- Be a resident of Miami-Dade County, Florida.
- Be at least 18 years old.
- Be willing to complete Branches Financial Coaching program prior to loan disbursement.
- Borrowers with a credit score of 620 or higher are required to provide one qualified guarantor. Those with a credit score below 620 will be required to provide an additional guarantor. Guarantors must have verifiable income and sufficient financial capacity, as determined by HFLA.
- Complete the Borrower Application (see below).
- Secure your guarantor(s) who meet HFLA’s requirements, and have them complete the guarantor application.
- Complete the Branches Financial Coaching program prior to loan disbursement.
- We will verify your information, review your and your guarantors’ credit standing, and speak with each guarantor to ensure they understand our program requirements.
- Once your information is confirmed, we’ll connect you with Branches to begin your initial financial coaching sessions.
- You’ll meet with the HFLA Loan Committee, which will review your application along with recommendations from Branches.
- Upon final approval, HFLA will disburse funds directly to your creditors to help you pay down high-interest debt.
CLICK HERE TO GUARANTEE A LOAN FOR SOMEONE ELSE (You will be redirected to our confidential form)
