Home 7 Mountains of CultureBusiness Mountain “Borrowers pay $12 Billion in Fees and Interest Every Year” Revealing a Biblical Perspective on Predatory Lenders

“Borrowers pay $12 Billion in Fees and Interest Every Year” Revealing a Biblical Perspective on Predatory Lenders


LISTEN NOW! Today, debt appears to have become an everyday word that is commonplace. In the increase of loans, another type of loan is being seen, “Payday Loans”. Instead of a home loan that is paid back in 15-30 years, or a short term 12- month loan, these Payday Loans are given based on someone’s incoming paycheck. If you cannot afford an annual loan, then a 2-week loan is surely out of the question. Proverbs 22:7 reveals, “The rich rule over the poor, and the borrower is slave to the lender.”

According to reports, “Nationwide, borrowers pay $12 Billion in Fees and Interest Every Year”. In addition, “There are more than 20,000 payday lenders in the United States. In Alabama, there are four times as many payday lenders as there are McDonalds restaurants.” Because of the exorbitant interest rates of these loans, some borrowers will pay more in interest then they will the total amount borrowed!


We must begin to live within our means and stop enjoying the blessings of tomorrow today. The people that are struggling are the very ones that are being taken advantage of. Instead of having a business that brings income based on excessive usury fees or fines, there is wisdom. One particular man, gifted with many business skills, listed GOD as the CEO of his company. He would be brought into boardrooms of many different companies to give advice on how they could run their business. He refused to be on any corporate board that used such fees to bring in income. It matters how we are receiving our income.


Allow your wisdom to increase regarding the perspective of finances and debt, and so much more. Also shared in this segment: usury fees, insufficient funds, high interest fees, mortgages, predatory lending, and debt. Greg and Steve shared in this segment.

screen capture from youtube.com/Southern Poverty Law Center

Related Content
Stop the Debt Trap
Partner with VFNtv

The Borrower is Slave to the Lender

Proverbs 22:7

Related Articles

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?

You may also like

Send this to a friend