Comprehensive Faith and Credit: Christian Groups Unite Against Predatory Lending

Comprehensive Faith and Credit: Christian Groups Unite Against Predatory Lending

By Mark Oppenheimer

    10, 2016 june

In 1996, Derek Drewery had been a son stationed at Wright-Patterson Air Force Base in Ohio as he went into cash dilemmas.

“I can’t keep in mind just what we required that loan for, ” Mr. Drewery stated, “but we needed seriously to borrow a hundred or so dollars or more. ” He looked to one of many short-term, high-interest lending companies close to the base for the “payday loan, ” by which individuals borrow funds against their paychecks as they are typically likely to pay it back within a fortnight.

“once I went along to repay it had been far more than I’d lent, therefore I had to borrow once more to cover that right back, and had to borrow once again to cover that right back, ” Mr.

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