LISTEN NOW! More and more attention is being given to payday lending and the industry that applies as much as 390% interest on its loans. As CNN’s Christina Alesci shares, “payday lenders are getting around individual state legislation that are meant to protect, often times, poor people, from abusive practices.” Reportedly, there are about 12 million borrowers a year that use these loans, their median income is $22,400 a year, and they take out an average of 10 loans every year. What is meant to be a short term loan, ends up being a cycle of repeated loans in order to pay off the previous loans.
It is important that we honor the Lord with the finances that we are given through tithes and offerings, so that we do not end up with the outcomes as expressed in Malachi 3:8-10. There is wisdom to be learned in this. Hear the full report of how we can respond to these realities and so much more. Also shared in this segment: debt, borrowing, lending, finances, curses, and honor. John and Steve shared in this segment.
Courtesy of wavebreakmedia/Shutterstock.com
Related Content
3 rules that could change the payday loan world
Stop the Debt Trap
MeetMyFather.org
iAbide.org
Partner with VFNtv
Pray for our President of the U.S.A., President Obama
“Borrowers pay $12 Billion in Fees and Interest Every Year” Revealing a Biblical Perspective on Predatory Lenders
Raising the Debt Ceiling Like Raising Credit Limit on Maxed Credit Card
AMERICA’S TRUE DEBT: Not 17 Trillion more like $200 Trillion?
If you Can’t Tread Water, It Doesn’t Matter if You can Swim; Wisdom for Everyday Life
Wisdom is Supreme
Wisdom Moment: How to Have Peaceful Life
T.D. Jakes 5 Things He Would Tell a Younger T.D. Jakes: Wisdom Learned
Consider the ANT
Guard your Heart from ENVY?
Time to Relook at the HIGH Cost of a College Degree: Goldman Sachs Suggest that it May not be worth it
Economic Collapse Coming? It’s time to Prepare
Is an Global Economic Crisis Brewing in Greece?