Deep In Debt Church Pays Off Payday Loans!
Reader Pastor Van Moody and his church have taken a proactive approach to getting its members and non-members out from under crushing payday loan debt. I love this because they are not just paying it off, they are counseling them on money management and walking through it with them...accountability we need more of it.
The Worship Center Christian Church in Birmingham announced during services on this past Sunday morning that it will pay off the payday loans of 48 people struggling with debt. Those whose loans are being paid off owe a combined total of more than $41,000 and are paying high-interest rates of 36 percent and much higher. Payday loans are unsecured cash advances that people use to make it through to the next payday. Payday loan centers proliferate throughout Alabama.
Deep in debt? Church pays off payday loans