ChristiaNet.com (http://www.christianet.com), the world's largest Christian portal with twelve million monthly page loads, conducted a recent survey to ask readers, "Should Christians get bad credit loans?" The majority of participants do not think payday advances are a good idea because of the extremely high interest and fees associated with them. One Believer said, "If you are in debt, I don't think it is a good idea to go deeper in debt trying to pay another loan off." One of the exceptions for considering this type of loan is if there is no other alternative. An unexpected illness that requires immediate medical treatment might be a reason that some people would consider applying for a high interest loan. (http://www.christianet.com/badcreditloans/)
Out of 290 responses, 52 participants said "yes" to the survey question. This group overall seems to agree that Christians need help sometimes. Payday advances should only be considered in case of emergencies and should be paid off according to terms or before to avoid additional interest and fees. One participant offered some good advice by stating, "I think so. I would hope they would look at that as a turning point and work on their finances so as to avoid bad credit loans in the future."
One-hundred, seventy-five readers said Christians should not consider high interest loans and should be trying to live by Biblical principles. Believers should practice faithfulness with paying their debts and should be trying to get out of debt, but not by applying for bad credit loans. Bill Cooper, President of ChristiaNet.com, offers some additional advice for those who are considering payday advances: "Get some Christian counseling and have other Believers pray with you about getting debt free. Be open to considering that there may be some emotional or spiritual issues that need to be addressed when financial problems lead to high interest loans."
Sixty-three participants were unsure about the survey question. Many in this group feel that it depends on the circumstances surrounding the decision. One participant cautioned, "One should always investigate legitimate ways to resolve debt through sensible financial plans but avoid attractive ads that lead the consumer to poor spending habits." Overall most Christians suggest seeking God for answers and study what the Bible says about borrowing. For more information, visit: http://www.christianet.com/articles/
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