‘Born Again’ Evangelicals More Apt to Use Payday Lending

[Crabtownboy]

Using these loan services is neither wise, is bad family values and not Biblical.

In spite of Biblical prohibitions, evangelicals are more apt to use payday lending services than others. What happened to "never a borrower nor a lender be” when it comes to quickie loans?
A young law researcher by the name of Jonathon Randon has found in his study of the issue of economics, that the message of pastors to be careful about money matters and loans, doesn’t sink in with evangelicals. In fact they are more apt than others to be involved in payday lending services, according to his findings.

Landon found that most ministers preach that one should live within one's means. They also stress a rather economic form of the Golden Rule which is to treat others in business and finances as you would want to be treated. To check whether evangelical church members actually followed ministers’ recommendations, Landon looked at payday lending services and the involvement of evangelicals in them. These are short-term lending services that charge a high rate of interest on loans.

The highest number of payday lending services is in the Deep South and those areas most populated by evangelicals. This information reveals that evangelical Christians don’t integrate the message of the Bible with economic and personal life, as observed by Landon’s findings.

Payday lenders are intimately involved in politics as lobbyists. Regarded as loan sharks some legislators are concerned that they are bad for the economy and are developing restrictions on their practices. It is said that will be difficult That’s particularly true in the South where they predominate. One news source underlines how some politicians feel about these practices and writes:

“There are Good Samaritans in the Senate who don’t intend to let these legalized loan sharks continue bleeding millions from consumers without a fight. While some who’ve fought for consumers in the past now support minimal regulation, there are those who don’t intend to pass by on the other side of the street while borrowers are being robbed of hard-earned cash via triple-digit, short-term loans that lead to long-term debt.”


Not only are payday lending practices bad for people of the South, they are bad for the American economy in general, experts say. They cost American families $4.2 billion annually in predatory lending fees.

Family values are declared important among evangelicals, but how does payday lending practices reinforce them and stay coherent with religious and economic advice? Likely there is some dichotomy, and research maintains a great problem.

http://www.digitaljournal.com/article/271947

 

[rbell]

gave a ride to someone last night who lost his car to one of these scavengers.

Yup, they are bad news...and I hate that so many people are so irresponsible as to use them.

 

[donnA]

How do they know if people are christians or not when they go in for these loans?
Which I agree are a bad idea.

 

[just-want-peace]

This information reveals that evangelical Christians don’t integrate the message of the Bible with economic and personal life, as observed by Landon’s findings.

Bolded mine

This comment is proven daily by many of the posters on this board!

It is totally alien to much of the attitude toward the "responsibility of government" touted daily here by those that think (in practice if not in word) that the government is the saviour!

 

[Revmitchell]

I doubt he could determine this by this or any other study.

 

[donnA]

This comment is proven daily by many of the posters on this board!

It is totally alien to much of the attitude toward the "responsibility of government" touted daily here by those that think (in practice if not in word) that the government is the saviour!

I was thinking the same thing. How many times have I seen a poster here condemn people for not separating their 'religious life' from the rest of their lives.

I doubt he could determine this by this or any other study.

He would actually have to ask everyone who got one of these loans to determine this.

 

[windcatcher]

Some of the questions regarding this law student and his research are answered here, from a link provided in the story The main question being, is the law student a Christian, himself, so that he's making his determination from within the body or from without the body? The difference being, just like a real human body, when a doctor performs lab tests, most blood work is initially a screening device for and may be a prognosticator for pathology within the body or its organs, but very few are definitive in themselves: However, within our physical bodies are many systems of monitoring and balance, both intercellulare and extracellular, which God wonderfully made to help keep us healthy. When a doctor gets back lab test results, he processes the information together with his own findings during the physical exam and patient's report, and uses his knowledge with the predictability of certain lab findings to decide whether more definitive tests are required and how specific or invasive they might be. From this perspective, perhaps, one may understand some of my concerns which are answered but only in part in this link.

Landon said the ministers offered several possible reasons for this contradiction. Some pointed to a poor education system in the South that leaves many vulnerable to economic exploitation, while others said their congregants' conservative political and economic beliefs lead them to put more faith in free markets than in Biblical teachings.

"Too many Christians let political views guide their biblical interpretation and not the other way around," one minister told Landon.

And then there's the challenge that ministers have faced for ages on a range of moral and ethical topics -- many churchgoers aren't interested in practicing from Monday to Saturday what they hear on Sunday. What happens in church stays in church.

As a result, Landon said congregants are reluctant to do something about what their faith tells them are usurious and sinful lending practices.

"One minister told me there are a lot of decisions being made by churchgoers on behalf of Christ, but not a lot of discipling of the people," Landon said. "Another said that many congregants are just people in pews, and they don't let the Gospel change their heart."

While this information may be useful as a diagnostic tool of what is being presented and what is being received as instruction in the church, it is not as definitive, as it may first appear.

Just what is the percentage of Christians who have used these payday loans?
Why are these services being used? Does it have to do with temporary budget crisis, an inability to qualify for less expensive forms of credit, the 'red tape' and involvement of time to get credit? What are the other forms of credit used..... credit cards? Mortgages? Auto loans? Lines of credit? Student loans? Is storehouse savings being taught? Does the church lead by example by avoiding debt wherever possible?

Ministers may think their church is being taught Biblical principals about money, but, in reality, what they think doesn't matter if its not happening. And I think its not happening. Most of what I learned about Biblical principals regarding money, other than the tithe sermon which gets the dust scratched off every now and then, (excluding reading the Bible, itself), is from Larry Burkett on Christian radio.

Excepting the tithe and offerings, most of the teachings and principals of lifestyle and specific areas like money, are taught in the Old Testament. But the modern church seems to focus on the study and reading of the New Testament. Why, I wonder, when so much of the NT is based upon 'it is written' from the OT? And Jesus didn't narrow the teachings of the Word by teaching that we should live by every word which shall be written but by every word of God. The only reference the early church had in its day was the Old Testament until well after the resurrection of Christ and the destruction of the temple, which happened roughly 40 years later.

If Christians aren't being challenged to read and apply the teachings from both the OT and the NT, perhaps it is a false assumption that they are receiveing teachings on Biblical principals of money. And since many of these principals apply not only to the household, but also to business, and churches, and governments.......... ??????????





Goverment? No! Surely God's principals couldn't apply to government!





Or could they?

 

[JohnDeereFan]

In spite of Biblical prohibitions, evangelicals are more apt to use payday lending services than others. What happened to "never a borrower nor a lender be” when it comes to quickie loans?

Umm...I don't think that's a Biblical prohibition. Don't tell anybody, but that's Shakespeare, not the Bible.

 

[Bro. Curtis]

:laugh:

I wondered where scripture banned quickie loans.

 

[rbell]

It does advise against usury.

My point is not for another batch of laws...but that we as a church ought to be doing a few things:

• Teaching folks to be responsible with money. "Financial responsibility" and "getting a payday loan" are mutually exclusive. Unfortunately, we have many in the church who are clueless and/or irresponsible with regards to their finances. We can't make 'em behave, but we can teach 'em the right things to do.
• If we have any business folks in our church invested in these businesses, we should encourage them to look for other ways to make money. The interest can run into the hundreds of percent APR. It smacks of usury, and we shouldn't do it as Christians to others.
• Make sure through this process that folks understand that payday loan businesses will go belly-up if folks will simply wise up and quit using them. We should do our part to encourage folks to make wiser use of the resources God has granted to them.

 

[carpro]

A young law researcher...

How young?

Any information about his methodology?

Law researcher?

Any expertise in this field?

I suggest that his "findings" on the subject are ...shall we say...

suspect. :laugh:

 

[donnA]

Teaching folks to be responsible with money. "Financial responsibility" and "getting a payday loan" are mutually exclusive.

a person can be poor, and still finacially responsible.


I've seen the signs all over the place, these loans, here that is, cost the barrower an additional $3. Barrow $100. pay back $103.
The one person I've ever nown who did this needed food for their family, had nothing left after paying bills, he was out of work due to a broken leg, they had to live on her income.
Not the worst thing I've seen, cars and homes will cost more additional payment.

 

[donnA]

How young?

Any information about his methodology?

Law researcher?

Any expertise in this field?

I suggest that his "findings" on the subject are ...shall we say...

suspect. :laugh:

I suspect your right.
actualy it's just one more attack on the church,
approved by several here.

 

[Crabtownboy]

I suspect your right.
actualy it's just one more attack on the church,
approved by several here.

I do not see it as an attack on the church at all. It does point out that many Christians ignore financial advice from the Bible. Most American Christians are very materialistic ... as are most Americans.

I heard a preacher, many years ago ... oh, about 40 years ago, say that if you really wanted to find out who is a Christian in America, dont' threaten them with death ... just threaten to take their money away if they want to follow Christ, but let them keep their money if they do not want to follow Christ.

I am continually amazed that people have so much stuff they have to rent storage space to keep the stuff they are not using. [One of my soapboxes.]

 

[Revmitchell]

I suspect your right.
actualy it's just one more attack on the church,
approved by several here.

No it is just more hate America

 

[carpro]

I suspect your right.
actualy it's just one more attack on the church,
approved by several here.

Athiests are ecstatic over his "findings".

Any chance he might be an athiest with an agenda?

 

[Bro. Curtis]

Americans also donate a bigger % of their income to charities. America always is the biggest international donor.

Don't tell me this isn't a "look down your nose" attack on American Christians.

 

[Revmitchell]

Americans also donate a bigger % of their income to charities. America always is the biggest international donor.

Don't tell me this isn't a "look down your nose" attack on American Christians.

Conservatives do anyway

 

[rbell]

a person can be poor, and still finacially responsible.

I've seen the signs all over the place, these loans, here that is, cost the barrower an additional $3. Barrow $100. pay back $103.
The one person I've ever nown who did this needed food for their family, had nothing left after paying bills, he was out of work due to a broken leg, they had to live on her income.
Not the worst thing I've seen, cars and homes will cost more additional payment.

I said nothing about being poor.

I did say that payday loans are financially irresponsible.

I'd have to see one that allowed you to only pay back three bucks on a $100 loan. I have a hard time believing that to be accurate...or at least it is so conditional as to not be possible (that is, pay it back in an hour).

Most APR's on payday loans run into the hundreds of percent. Penalties and interest for late payments and failure to pay are extremely prohibitive.

 

[donnA]

I do not see it as an attack on the church at all. It does point out that many Christians ignore financial advice from the Bible. Most American Christians are very materialistic ... as are most Americans.

and the proof is.... what?

Oh, by the way, I do not rent a storage unit, never have, and never will unless we are forced to live in an even smaller house(800 sq ft currently)