Church of England to consider buying out pay day loan lender

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M

Miri

Guest
#1
#1
Was really surprised by this. In the UK there is a pay day loan lender called Wonga who charge extortionate interest rates. People use them when they can’t get loans from banks or short term loans. Mostly people who don’t have much money.

They have gone into administration and the Church of England are considering buying them out.

Wonder how that would work out with some of the poorest in society potentially owing money to the church.

https://www.bbc.co.uk/news/uk-45534283


Interest rates are over 1,000 APR at Wonga. Just posted this link so you can see but don’t use them.


https://www.wonga.com/loan-calculator
 
L

Lillywolf

Well-known member
#2
Aug 29, 2018
1,562
543
113
#2
I can't help but to recall the verses about Christ's anger toward the money changers.

And those verses concerning rendering unto Caesar that which is Caesar's and unto God that which is his.

In the states we have the same type loan sharks. They're called Shylarks here. There's one commercial fronted by a former talk show host , Montel Williams. Who at the end of the spiel says the loan service is not available to New York residents due to laws concerning interest rates. Good for NY.
If the other 49 states would adopt such a policy poor and desperate optimistic people wouldn't lose their shirt.

I remember the then Arch Bishop of Canterbury saying years ago that Sharia was unavoidable for the UK.
I really shouldn't be surprised by the CoE's headlines I guess.
My deepest sympathies to the people of GB.
 
M

Mrs_BookWorm

Member
#3
Sep 23, 2018
58
53
18
#3
The only positive thing that could come out of this union, is that instead of owing loans, you can just pay tithe. So debtors wouldn't necessarily owe anything, except for what they could give to the church. It looks like the church will try and pay off all the loans, so that the company will go out of business, even going as far as showing regret for helping that business in the past. Perhaps it is a charity movement, and less of a Christian boss taking over.
 
zeroturbulence

zeroturbulence

Senior Member
#4
Aug 2, 2009
24,579
4,268
113
#4
Miri said:
Was really surprised by this. In the UK there is a pay day loan lender called Wonga who charge extortionate interest rates. People use them when they can’t get loans from banks or short term loans. Mostly people who don’t have much money.

They have gone into administration and the Church of England are considering buying them out.

Wonder how that would work out with some of the poorest in society potentially owing money to the church.

https://www.bbc.co.uk/news/uk-45534283


Interest rates are over 1,000 APR at Wonga. Just posted this link so you can see but don’t use them.


https://www.wonga.com/loan-calculator
Click to expand...
If it's that bad, the government should take it over and lower the rates for those who have outstanding loans until they are all paid off and the business is liquidated. I don't understand why the church is the one doing the rescuing. It should be the government.
 
posthuman

posthuman

Senior Member
#5
Jul 31, 2013
36,647
13,121
113
#5
Miri said:
Was really surprised by this. In the UK there is a pay day loan lender called Wonga who charge extortionate interest rates. People use them when they can’t get loans from banks or short term loans. Mostly people who don’t have much money.

They have gone into administration and the Church of England are considering buying them out.

Wonder how that would work out with some of the poorest in society potentially owing money to the church.

https://www.bbc.co.uk/news/uk-45534283


Interest rates are over 1,000 APR at Wonga. Just posted this link so you can see but don’t use them.


https://www.wonga.com/loan-calculator
Click to expand...

There was a rich man whose manager was accused of wasting his possessions. So he called him in and asked him, ​
‘What is this I hear about you? Give an account of your management, because you cannot be manager any longer.’​
The manager said to himself, ​
‘What shall I do now? My master is taking away my job. I’m not strong enough to dig, and I’m ashamed to beg — I know what I’ll do so that, when I lose my job here, people will welcome me into their houses.’​
So he called in each one of his master’s debtors. He asked the first, ​
‘How much do you owe my master?’​
‘Nine hundred gallons of olive oil,’ ​
he replied.​
The manager told him, ​
‘Take your bill, sit down quickly, and make it four hundred and fifty.’​
Then he asked the second, ​
‘And how much do you owe?’​
‘A thousand bushels of wheat,’ ​
he replied.​
He told him, ​
‘Take your bill and make it eight hundred.’​
The master commended the dishonest manager because he had acted shrewdly. For the people of this world are more shrewd in dealing with their own kind than are the people of the light. I tell you, use worldly wealth to gain friends for yourselves, so that when it is gone, you will be welcomed into eternal dwellings.​
(Luke 16:1-8) ​
​
​
. . . Jubilee ?
 
Locutus

Locutus

Senior Member
#7
Feb 10, 2017
5,928
685
113
#7
So this was a storm in a tea pot eh?

tongue.png
 
P

Peaceful

Member
#8
Oct 3, 2018
83
52
18
www.jbs.org
#8
Is this a portend? When joining that which is of God with that which is Caesar's? Render unto. Not join.
 
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