Cash Advance Loans Can Be Ethical
ChristiaNet.com, a large Christian portal with eight million monthly page loads, recently asked, "Are cash advances ethical?" President of ChristiaNet, Bill Cooper, responded, "Christians are taught to be responsible financial stewards."
Out of 500 Christians surveyed, 37% felt that it was ethical to receive a cash advance, but only, "under extenuating circumstances and only if it is needed for food or gas." Others in this group felt that getting a cash advance was allowable, "As long as you pay it back and as long as you have the means to pay it back within a reasonable period of time." Many poll takers in this category felt it was an ethical practice if the borrower used an ethical firm, "Only if it is from a trustworthy source, check the BBB to make sure they are reputable."
A close thirty-three percent of survey takers were adamantly against a Christian getting a cash advance. Some reasons stated were, "Owe no man anything....but love," and, "Christians must learn to live within their means. Sometimes not having enough money for much needed items will give God a chance to prove to you that He takes care of His children, just like the birds in the air and the lilies in the field." Some in this group felt that the cash advance businesses themselves were unethical, "Those places charge an unethical amount of interest. Interest charges on cash advances sometimes exceed twenty percent per month. No Christian should ever put their trust and faith in a cash advance business; instead it should be placed in God."
Thirty percent of poll takers were unsure about whether or not receiving a cash advance was ethical. Some in this category did not understand the question, "Who is it ethical or not ethical for, the borrower or the lender?" Others felt that, "A Christian who uses these services will find out soon enough the consequences that they usually bring. Unless you can pay them back right away, I don't think it is a good idea." Some were unsure if it was ethical because of the motivations for borrowing the money, "It really depends on why you are borrowing it."
To help educate Christians, ChristiaNet has just released a series of cash advance articles. These articles are designed to assist Christians in their quest for concise, easy-to-understand information.