In Payday Loan Debt, One Church Pays Loan Out
Need cash? We've all seen the signs on payday loan stores promising fast cash until your next payday.As we know now, it's a trap. they trap you into very high interest rates that keep you in a perpetual cycle of debt.
The payday loan epidemic has gotten so bad it has gotten national attention, from the President no less.
There has been legislation to stop the spread of payday loan stores. Most of them are in or very close to our neighborhoods, taking advantage of our community by exploiting it's one big weakness...the lack of financial stability
. Once they get you in, you have to keep going to them to be able to pay your bills and pay them.
One church is taking a stand by helping those seriously in debt to loan stores by paying off their loans.
That is what we need more of, the church taking a stand in our communities.