Rochdale residents back Church against Wonga

Concerns about money have increased and payday loan companies prey on this

After news emerged last week that the Church of England plans to take on payday loan companies, Rochdale Online asked local residents their opinion.

The Archbishop of Canterbury has said the church will take on the pay day loan companies that prey on vulnerable people by charging a staggering 5,853 per cent interest rate.

The Most Reverend Justin Welby wants to expand the role of credit unions as an alternative to the payday lenders – opening up the prospect of having responsible money lenders based in churches.

Freda Robinson said: “I don’t know how the two fit together but I think it is good if it can stop people getting into trouble.”

Christine Grime from Long Street Methodist Church said: “It is difficult and I sympathise with the church because it is hard to find the right balance.”

One family discussed the matter at length and said: “I think they need to tell us more about it. It sounds like a good idea but maybe the churches need expertise in that area. It could potentially help more people.”

One Rochdale church leader agreed with the Archbishop’s plans and said: “I cannot see the justification in what these companies do so I agree with the Archbishops plan.”

Payday loan companies have come under criticism from political parties and have been investigated by the Office of Fair Trading.

It is currently unclear if and when the Archbishops plan will happen.

http://rochdaleonline.co.uk/news-features/2/news-headlines/81672/churchs-plan-to-take-on-wonga