Rule Your Debts

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A number of years ago while I was serving as deacon, a church member approached me to inquire about helping a widow in the church. She requested on behalf of this widow that church funds designated for benevolent giving be used to repair her dilapidated roof. I checked out this roof myself and it looked like it could fall apart at any moment. This widow had already found a contractor willing to make the entire repair for only $1,000 but she did not have the funds and the church denied the request because it was considered a non-essential item.

I decided at that moment to go ahead and lend to this widow. I paid the contractor directly and my terms with the widow were simple. There would be no interest charged and she could pay me back when she could afford to pay me, as long as she paid me something every month. She satisfied her debt to me completely within five months.

I knew that she was facing other debts and desperately wanted to pay them completely off. I told her I would offer her a low interest loan so that she could work those debts off faster and that, as long as she was current with me, I would continue to lend to her until she was completely debt free. She took three days to pray about this and then turned me down! The reason she declined my offer was because she wanted to experience the struggle of getting out of debt on her own so that she always remembered what it took to get out so that she would never be tempted to jump into debt again.

This response impressed me and I definitely let her know that her response made me want to help her that much more and that if she ever changed her mind, she knew where to find me! This sparked an insatiable passion in me to find others who are worthy of this type of financial help and willing to accept it.

The idea behind my passion is to enable godly people through the simple and perhaps old-fashioned process of using their own free cash flows to clear their debts and I am willing to get them started on this path. If you are reading this then, most likely, you are already on my approved lending list.

The rules are as follows:

1) A comprehensive evaluation of debt is performed.

2) A reasonable plan for debt payoff is developed.

3) Each debt category (credit, school, auto) is paid off by me through a low interest loan only once.

4) As long as your loan payments to me have been current and as long as your overall debt is declining then I may continue to offer you low interest loans for the next debt category.

5) Once debt free it is your job to stay that way (or get out of debt again on your own).

These statements do not constitute any legally obligated arrangement.