What is debt?
- Amount you have to pay someone.
- Moral obligation contracted please and/or well received.
What does the Bible say about debt?
- AVOID DEBTS
For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation, and is not able to finish, all who see it begin to mock him, saying, 'This man began to build, and was not able to finish.' Luke 14:28-30.
- AVOID BE SURETY
A man without sense gives a pledge, and becomes surety in the presence of his neighbor. Proverbs 17:18.
Be not one of those who give pledges, who become surety for debts. If you have nothing with which to pay, why should your bed be taken from under you? Proverbs 22:26-27.
My son, if you have become surety for your neighbor, have given your pledge for a stranger; if you are snared in the utterance of your lips, caught in the words of your mouth; then do this, my son, and save yourself, for you have come into your neighbor's power: go, hasten, and importune your neighbor. Give your eyes no sleep and your eyelids no slumber; save yourself like a gazelle from the hunter, like a bird from the hand of the fowler Proverbs 6:1-5.
- DEBT IS SLAVERY
The rich rules over the poor, and the borrower is the slave of the lender Proverbs 22:7.
- DO NOT BE SLAVE TO ANYONE
You were bought with a price; do not become slaves of men 1 Corinthians 7:23.
- DEBT IS CONSIDERED A CURSE
But if you will not obey the voice of the LORD your God or be careful to do all his commandments and his statutes which I command you this day, then all these curses shall come upon you and overtake you.
The sojourner who is among you shall mount above you higher and higher; and you shall come down lower and lower. He shall lend to you, and you shall not lend to him; he shall be the head, and you shall be the tail. All these curses shall come upon you and pursue you and overtake you, till you are destroyed, because you did not obey the voice of the LORD your God, to keep his commandments and his statutes which he commanded you Deuteronomy 28:15,43-45.
- PAY YOUR DEBTS
Pay all of them their dues, taxes to whom taxes are due, revenue to whom revenue is due, respect to whom respect is due, honor to whom honor is due. Owe no one anything, except to love one another; for he who loves his neighbor has fulfilled the law Romans 13:7,8
When you vow a vow to God, do not delay paying it; for he has no pleasure in fools. Pay what you vow. It is better that you should not vow than that you should vow and not pay. Ecclesiastes 5:4,5.
- FORGIVE CERTAIN DEBTS
At the end of every seven years, debts must be canceled. This should be done as follows: Every lender will cancel the loan he made to his neighbor. No Israelite will demand payment from his neighbor or relative, because the Lord's time for debt cancellation has been proclaimed.
You may demand payment from a stranger, but you will have to cancel any debt from your Israelite brothers. So there must be no poor among you, for in the land that the Lord, his God, is giving you as an inheritance so that you can take possession of it, he will bless you richly, Deuteronomy 15:1-4.
And forgive us our debts, As we also have forgiven our debtors Matthew 6:12.
Give to every one who begs from you; and of him who takes away your goods do not ask them again. Luke 6:30.
- CONSEQUENCE OF DEBT
There are those who snatch the fatherless child from the breast, and take in pledge the infant of the poor Job 24:9.
A prudent man sees danger and hides himself; but the simple go on, and suffer for it Proverbs 27:12.
He who gives surety for a stranger will smart for it, but he who hates suretyship is secure Proverbs 11:15.
The plans of the diligent lead surely to abundance, but every one who is hasty comes only to want Proverbs 21:5.
GOD BLESS YOU!
Text DEBT in the Bible
Deuteronomy 15:1-2, 6
At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor; he shall not exact it of his neighbor, his brother, because the LORD's release has been proclaimed.
For the LORD your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow; and you shall rule over many nations, but they shall not rule over you.
The wicked borrows, and cannot pay back, but the righteous is generous and gives.
Wealth hastily gotten will dwindle, but he who gathers little by little will increase it.
Proverbs 22:7, 26-27
The rich rules over the poor, and the borrower is the slave of the lender.
Be not one of those who give pledges, who become surety for debts. If you have nothing with which to pay, why should your bed be taken from under you?
And forgive us our debts, As we also have forgiven our debtors.
Then Peter came up and said to him, "Lord, how often shall my brother sin against me, and I forgive him? As many as seven times?" Jesus said to him, "I do not say to you seven times, but seventy times seven. "Therefore the kingdom of heaven may be compared to a king who wished to settle accounts with his servants. When he began the reckoning, one was brought to him who owed him ten thousand talents; and as he could not pay, his lord ordered him to be sold, with his wife and children and all that he had, and payment to be made. So the servant fell on his knees, imploring him, `Lord, have patience with me, and I will pay you everything.' And out of pity for him the lord of that servant released him and forgave him the debt. But that same servant, as he went out, came upon one of his fellow servants who owed him a hundred denarii; and seizing im by the throat he said, `Pay what you owe.' So his fellow servant fell down and besought him, `Have patience with me, and I will pay you.' He refused and went and put him in prison till he should pay the debt. When his fellow servants saw what had taken place, they were greatly distressed, and they went and reported to their lord all that had taken place. Then his lord summoned him and said to him, `You wicked servant! I forgave you all that debt because you besought me; and should not you have had mercy on your fellow servant, as I had mercy on you?' And in anger his lord delivered him to the jailers, till he should pay all his debt. So also my heavenly Father will do to every one of you, if you do not forgive your brother from your heart."
Give to every one who begs from you; and of him who takes away your goods do not ask them again.
Pay all of them their dues, taxes to whom taxes are due, revenue to whom revenue is due, respect to whom respect is due, honor to whom honor is due. Owe no one anything, except to love one another; for he who loves his neighbor has fulfilled the law.
And you, who were dead in trespasses and the uncircumcision of your flesh, God made alive together with him, having forgiven us all our trespasses, having canceled the bond which stood against us with its legal demands; this he set aside, nailing it to the cross. He disarmed the principalities and powers and made a public example of them, triumphing over them in him.
Keep your life free from love of money, and be content with what you have; for he has said, "I will never fail you nor forsake you."