House Of Praise in Camberwell is running a special ten week programme helping locals pay back what they owe and provide education classes about money management.
Pastor Andrew Adeleke told Premier that the church has been saving up: "Every year at church we put a deposit aside to alleviate poverty to help the poor, it started with a foodbank and that is being used in our community, and it went on to giving scholarships."
Those in need of help will be given £150 towards minimising their debt.
"We start with £150 initially, but definitely we won't be able to pay more than £50,000," he added.
He said that the Bible shows charitable giving and "so we made up our mind to do the same thing, because looking around us we saw many people in distress... we waited for the Lord and God told us to take this bold action."
The National Debtline, which is run by the Money Advice Trust, says more than a third of 18 to 24 year old's are already in debt, owing an average of nearly £3,000.
That figure does not including student loans or mortgages and a fifth of young people say they are losing sleep over it.
Listen to Premier's Hannah Tooley speak to Pastor Andrew Adeleke here:
