Comprehensive Faith and Credit: Christian Groups Unite Against Predatory Lending

  • 10, 2016 june
  • In 1996, Derek Drewery was a man that is young at Wright-Patterson Air Force Base in Ohio as he ran into cash issues.

    “I can’t keep in mind precisely what I required financing for,” Mr. Drewery stated, “but we needed seriously to borrow a hundred or so dollars or more.” He considered one of many short-term, high-interest lending companies nearby the base for the “payday loan,” by which people borrow funds against their paychecks as they are typically likely to repay it inside a fortnight.

    “once I decided to go to repay it it had been far more so I had to borrow again to pay that back, and had to borrow again to pay that back,” Mr. (more…)