BIRMINGHAM, Ala. (WIAT) — UPDATE: The Worship Center Christian Church will begin paying off PayDay Loans for 48 families starting Saturday.
Saturday will mark the verification of paperwork and initial workshops, which include budgeting and saving sessions.
ORIGINAL: The Worship Center Christian Church announced on Sunday that they would be paying off debt for 48 lucky families.
Pastor Van Moody intertwined this into a service where he preached comparing debt to a prison, particularly PayDay lending. Moody encouraged church members to donate to a special offering to assist in paying off PayDay loans for those who needed assistance, with the amount needed totaling more than $41,000.
The Alabama Department of Banking Statistics showed that people took out more than $462,000 in loans over a 10-week period in 2015.
There was an average of $14 million borrowed per week, with $146 million total being borrowed from Alabama’s 900 PayDay lenders.