The pressures of Christmas spending will drive four million people to take out payday loans to cover Christmas costs, despite a cut in the average budget for festive spending and giving fewer presents this year. Louise Brittain of R3 the insolvency trade body said, ‘I would urge people to think again before taking out a high interest loan to pay for presents, partying or luxury food. Debt has been normalized, attributable in part to clever marketing campaigns of big payday lenders operating glossy websites who are capitalizing on a shift in attitudes towards saving and debt.’ One in four families struggles to break even every month. Meanwhile a national debt counselling charity that works through local churches called ‘Christians Against Poverty’ offers hope and solutions to debt through a service showing God’s love in action sustainable poverty relief of counseling and practical help. See: http://www.capuk.org/who/aboutus.php
Pray: for Christian charities and networks helping people in debt to reach those in most need; and for similar Christian resources to be birthed at this time of recession. (Mt.25:35-36)