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DebtWe are encouraged not to be in debt
Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law. (Romans 13:8)
Debt compared to slavery
The rich ruleth over the poor, and the borrower is servant to the lender. (Proverbs 22:7)
Commanded not to be slaves of others
Ye are bought with a price; be not ye the servants of men. (1 Corinthians 7:23)
Examples of hardship of debt
David therefore departed thence, and escaped to the cave Adullam: and when his brethren and all his father's house heard it, they went down thither to him. And every one that was in distress, and every one that was in debt, and every one that was discontented, gathered themselves unto him; and he became a captain over them: and there were with him about four hundred men. (1 Samuel 22:1-2)
Now there cried a certain woman of the wives of the sons of the prophets unto Elisha, saying, Thy servant my husband is dead; and thou knowest that thy servant did fear the LORD: and the creditor is come to take unto him my two sons to be bondmen. (2 Kings 4:1)
And there was a great cry of the people and of their wives against their brethren the Jews. For there were that said, We, our sons, and our daughters, are many: therefore we take up corn for them, that we may eat, and live. Some also there were that said, We have mortgaged our lands, vineyards, and houses, that we might buy corn, because of the dearth. There were also that said, We have borrowed money for the king's tribute, and that upon our lands, and vineyards. Yet now our flesh is as the flesh of our brethren, our children as their children: neither is there any difference between us and them: lo, we bring into bondage our sons and our daughters to be servants, and some of our daughters are brought into bondage already: neither is it in our power to redeem them; for other men have our lands and vineyards. (Nehemiah 5:1-5)
Let the extortioner catch all that he hath; and let the strangers spoil his labour. (Psalm 109:11)
Thus saith the LORD, Where is the bill of your mother's divorcement, whom I have put away? or which of my creditors is it to whom I have sold you? Behold, for your iniquities have ye sold yourselves, and for your transgressions is your mother put away. (Isaiah 50:1)
Being debt-free was positive
Woe is me, my mother, that thou hast borne me a man of strife and a man of contention to the whole earth! I have neither lent on usury, nor have men lent to me on usury; yet every one of them doth curse me. (Jeremiah 15:10)
Debt was considered a curse
But it shall come to pass, if thou wilt not hearken unto the voice of the LORD thy God, to observe to do all his commandments and his statutes which I command thee this day; that all these curses shall come upon thee, and overtake thee:... The stranger that is within thee shall get up above thee very high; and thou shalt come down very low. He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail. Moreover all these curses shall come upon thee, and shall pursue thee, and overtake thee, till thou be destroyed; because thou hearkenedst not unto the voice of the LORD thy God, to keep his commandments and his statutes which he commanded thee: (Deuteronomy 28:15, 43-45)
Being debt-free was considered a blessing
Notwithstanding there shall be no poor among you; for the LORD shall greatly bless thee in the land which the LORD thy God giveth thee for an inheritance to possess it: Only if thou carefully hearken unto the voice of the LORD thy God, to observe and to do all these commandments which I command thee this day. For the LORD thy God shall bless thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee. (Deuteronomy 15:4-6)
And it shall come to pass, if thou shalt hearken diligently unto the voice of the LORD thy God, to observe and to do all his commandments which I command thee this day, that the LORD thy God will set thee on high above all nations of the earth: And all these blessings shall come on thee, and overtake thee, if thou shalt hearken unto the voice of the LORD thy God.... The LORD shall open unto thee his good treasure, the heaven to give the rain unto thy land in his season, and to bless all the work of thine hand: and thou shalt lend unto many nations, and thou shalt not borrow. (Deuteronomy 28:1-2, 12)
Debt repayment
Godly people repay debts
Withhold not good from them to whom it is due, when it is in the power of thine hand to do it. Say not unto thy neighbour, Go, and come again, and to morrow I will give; when thou hast it by thee. (Proverbs 3:27-28)
Wicked people do not repay debts
The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth. (Psalm 37:21)
Lord can supernaturally provide resources to get out of debt
Now there cried a certain woman of the wives of the sons of the prophets unto Elisha, saying, Thy servant my husband is dead; and thou knowest that thy servant did fear the LORD: and the creditor is come to take unto him my two sons to be bondmen. And Elisha said unto her, What shall I do for thee? tell me, what hast thou in the house? And she said, Thine handmaid hath not any thing in the house, save a pot of oil. Then he said, Go, borrow thee vessels abroad of all thy neighbours, even empty vessels; borrow not a few. And when thou art come in, thou shalt shut the door upon thee, and upon thy sons, and shalt pour out into all those vessels, and thou shalt set aside that which is full. So she went from him, and borrowed vessels, empty vessels, of all her neighbours. And when they were come into the house, she shut the door upon her and upon her sons, who brought the vessels to her; and she poured out. And it came to pass, when the vessels were full, that she said unto her son, Bring me yet a vessel. And he said unto her, There is not a vessel more. And the oil stayed. Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest. (2 Kings 4:1-7)
Forgiveness of debts every seventh year – a law for Old Testament believers
At the end of every seven years thou shalt make a release. And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the LORD's release. Of a foreigner thou mayest exact it again: but that which is thine with thy brother thine hand shall release; Save when there shall be no poor among you; for the LORD shall greatly bless thee in the land which the LORD thy God giveth thee for an inheritance to possess it: Only if thou carefully hearken unto the voice of the LORD thy God, to observe to do all these commandments which I command thee this day. For the LORD thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee. If there be among you a poor man of one of thy brethren within any of thy gates in thy land which the LORD thy God giveth thee, thou shalt not harden thine heart, nor shut thine hand from thy poor brother: But thou shalt open thine hand wide unto him, and shalt surely lend him sufficient for his need, in that which he wanteth. Beware that there be not a thought in thy wicked heart, saying, The seventh year, the year of release, is at hand; and thine eye be evil against thy poor brother, and thou givest him nought; and he cry unto the LORD against thee, and it be sin unto thee. Thou shalt surely give him, and thine heart shall not be grieved when thou givest unto him: because that for this thing the LORD thy God shall bless thee in all thy works, and in all that thou puttest thine hand unto. For the poor shall never cease out of the land: therefore I command thee, saying, Thou shalt open thine hand wide unto thy brother, to thy poor, and to thy needy, in thy land. (Deuteronomy 15:1-11)
And Moses commanded them, saying, At the end of every seven years, in the solemnity of the year of release, in the feast of tabernacles, When all Israel is come to appear before the LORD thy God in the place which he shall choose, thou shalt read this law before all Israel in their hearing. (Deuteronomy 31:10-11)
And if the people of the land bring ware or any victuals on the sabbath day to sell, that we would not buy it of them on the sabbath, or on the holy day: and that we would leave the seventh year, and the exaction of every debt. (Nehemiah 10:31)
Miscellaneous example of debt repayment
If he hath wronged thee, or oweth thee ought, put that on mine account; I Paul have written it with mine own hand, I will repay it: albeit I do not say to thee how thou owest unto me even thine own self besides. (Philemon 18-19)
Indebtedness used as examples in teaching
Teaching of Jesus Christ
Then came Peter to him, and said, Lord, how oft shall my brother sin against me, and I forgive him? till seven times? Jesus saith unto him, I say not unto thee, Until seven times: but, Until seventy times seven. Therefore is the kingdom of heaven likened unto a certain king, which would take account of his servants. And when he had begun to reckon, one was brought unto him, which owed him ten thousand talents. But forasmuch as he had not to pay, his lord commanded him to be sold, and his wife, and children, and all that he had, and payment to be made. The servant therefore fell down, and worshipped him, saying, Lord, have patience with me, and I will pay thee all. Then the lord of that servant was moved with compassion, and loosed him, and forgave him the debt. But the same servant went out, and found one of his fellowservants, which owed him an hundred pence: and he laid hands on him, and took him by the throat, saying, Pay me that thou owest. And his fellowservant fell down at his feet, and besought him, saying, Have patience with me, and I will pay thee all. And he would not: but went and cast him into prison, till he should pay the debt. So when his fellowservants saw what was done, they were very sorry, and came and told unto their lord all that was done. Then his lord, after that he had called him, said unto him, O thou wicked servant, I forgave thee all that debt, because thou desiredst me: Shouldest not thou also have had compassion on thy fellowservant, even as I had pity on thee? And his lord was wroth, and delivered him unto the tormentors, till he should pay all that was due unto him. So likewise shall my heavenly Father do also unto every one of you, if ye from your hearts forgive not every one his brother their trespasses. (Matthew 18:21-35)
And Jesus answering said unto him, Simon, I have somewhat to say unto thee. And he saith, Master, say on. There was a certain lender which had two debtors: the one owed five hundred pence, and the other fifty. And when they had nothing to pay, he frankly forgave them both. Tell me therefore, which of them will love him most? Simon answered and said, I suppose that he, to whom he forgave most. And he said unto him, Thou hast rightly judged. And he turned to the woman, and said unto Simon, Seest thou this woman? I entered into thine house, thou gavest me no water for my feet: but she hath washed my feet with tears, and wiped them with the hairs of her head. Thou gavest me no kiss: but she, since I came in, hath not ceased to kiss my feet. My head with oil thou didst not anoint: but she hath anointed my feet with ointment. Wherefore I say unto thee, Her sins, which are many, are forgiven; for she loved much: but to whom little is forgiven, the same loveth little. (Luke 7:40-43)
Teaching of Paul
Blotting out the handwriting of ordinances that was against us, which was contrary to us, and took it out of the way, nailing it to his cross; (Colossians 2:14)
Cosigning (surety/striking hands)
Cosigning discouraged
A man void of understanding striketh hands, and becometh surety in the presence of his friend. (Proverbs 17:18)
Take his garment that is surety for a stranger: and take a pledge of him for a strange woman. (Proverbs 20:16)
Take his garment that is surety for a stranger, and take a pledge of him for a strange woman. (Proverbs 27:13)
Cosigning dangerous
He that is surety for a stranger shall smart for it: and he that hateth suretyship is sure. (Proverbs 11:15)
Be not thou one of them that strike hands, or of them that are sureties for debts: If thou have nothing to pay, why should he take away thy bed from under thee? (Proverbs 22:26-27)
Cosigning deliverance
My son, if thou be surety for thy friend, if thou hast stricken thine hand with a stranger, Thou art snared with the words of thy mouth, thou art taken with the words of thy mouth. Do this now, my son, and deliver thyself, when thou art come into the hand of thy friend; go, humble thyself, and make sure thy friend. Give not sleep to thine eyes, nor slumber to thine eyelids. Deliver thyself as a roe from the hand of the hunter, and as a bird from the snare of the fowler. (Proverbs 6:1-5)