4,214% APR

Yes that’s not a misprint. 4,214% APR is the loan rate from Wonga, one of the best known of the new breed of payday loan companies. This compares with bank loans at around 15% APR. Sure, those needing the short term Wonga loan would not likely get a loan from a bank. But there’s a reason for that- they can’t afford the loan.

Rather than holding on until payday, many are getting into serious debt with this new, largely unregulated payday loan industry (The Week, 22 September). It preys on the weak. It cries out for serious regulation before the poor become poorer still.

There is an alternative- the credit unions. Financial co-operatives basically. Why don’t more people use them? They simply don’t have the advertising budgets of companies like Wonga (even the Wonga advert is an insult, portraying older people in a stereotyped manner).

Government policy can sometimes become too intrusive. Here’s an area in need of some serious legislation.

Forgiveness in an Electronic Age

The link below takes you to a fascinating story of a Tweeter facing his Troll. If that doesn’t make sense, have a read.

We need to forgive. If we hold on to a grudge, if we choose not to forgive, it’s us that ends up hurting, not them. We remember the incident. We are the ones that don’t sleep well. We are the ones churned up with anger. We are the ones to get bitter.

If Jesus could forgive his own murderers, (Luke 23: 33-34) surely, we can let go of that injustice, the anger that accompanied it, and find there is life beyond the hurt.

Sometimes it’s hard. Sometimes the thing done against us is enormous. Life and death issues.

But still forgive. For your own sakes.

LINK: Meeting a Troll....