The Bible never says that going into debt is a sin. However, it issues a very stark warning: “The rich rule over the poor, and the borrower is slave to the lender”.
Luke 7:42-43 - He who is forgiven much (debt) loves much; he who is forgiven little (debt) loves little. Romans 4:4 - Wages, like a debt owed, must be paid. Colossians 2:14 Jesus canceled the record of debt we owed by nailing it to the cross.
Similarly, in Deuteronomy 15, God says that every seven years, creditors should “remit the claim that is held against a neighbor” because “the Lord's remission has been proclaimed.” In the New Testament, Jesus instructs his followers to pray “forgive us our debts, as we also have forgiven our debtors” (Matthew 6:12, ...
It's wrong not to repay debts
Psalm 37:21 says, “The wicked borrows but does not pay back.” This doesn't necessarily mean that it's always wrong for a Christian to declare bankruptcy.
PAYMENT OF DEBTS
If you really cannot pay your debts you do not commit sin by not paying them. No one is bound to do what is impossible. Those who, through no fault of their own, are genuinely unable to pay deserve compassion and kind treatment. Their inability must be genuine.
Deuteronomy 15:8 says, “You shall open your hand to him and lend him sufficient for his need, whatever it may be.” Turning to the New Testament, in the Sermon on the Mount, Matthew 5:42, Jesus says, “Give to the one who asks you, and do not turn away from the one who wants to borrow from you.”
Show Notes. “The wicked borrow and do not repay, but the righteous give generously.” Psalm 37:21. As Christians, we know that paying our debts is important. We serve a just and righteous God who hates dishonesty.
Deuteronomy 15:1-2 New Living Translation (NLT)
“At the end of every seventh year you must cancel the debts of everyone who owes you money. This is how it must be done.
In Leviticus 25, we find the first reference to Jubilee, as part of the law given by Yahweh to the Israelites. These verses describe God's intent that the Israelites should remain free from slavery for all time by instituting a Sabbath year every seven years.
You might say to God: “Heavenly Father, I lift this person up to you and put this situation in your hands. Please give me wisdom. Please bless this person financially so they will never feel the need to borrow in the future.
“You shall not make any cuts on your body for the dead or tattoo yourselves: I am the Lord.” What does the Bible say about tattoos? That's it—that one line in Leviticus 19:28 of the Old Testament. But context is key—and this scripture may not apply to us in the way it looks.
Borrowing money is not a sin. But it isn't God's best either. Everything in God's Word is designed to keep you at the top in every area of life—including financially. You are called to be the head, not the tail; above, not beneath; and the lender, not the borrower (Deuteronomy 28:12-13).
Debts & loans are Blessings when managed prudently, but become a curse when used abruptly. Gone are the days when our fathers, grandfathers bought house & vehicles in cash. Money generally borrowed from relatives & friends, banking system & credit institutions were not so user friendly and reachable to masses.
“The wicked borrows but does not pay back, but the righteous is generous and gives” (Psalm 37:21). To refuse to settle our debts is downright wicked, a gross abdication of Christian character. Debt is not always wrong, but in most cases it is inadvisable.
Pay everyone whatever you owe them. If you owe taxes, pay them. If you owe tolls, pay them. If you owe someone respect, respect that person.
For Jesus to say “77,” then, would be to exaggerate this standard of perfection – a metaphorical way of saying “forgive until you reach perfect perfection.” In essence, Jesus was saying “forgive to infinity.” Jesus' reference to 77 also brings to mind the words of Lamech in Genesis 4:23-24 – a ruthless man who lived ...
Bible Gateway Deuteronomy 15 :: NIV. At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite.
Some debts, though, such as federal student loans don't have a statute of limitations. Most states or jurisdictions have statutes of limitations between three and six years for debts, but some may be longer. This may also vary depending, for instance, on the: Type of debt.
A Powerful Prayer for Getting Out of Debt
Dear God, I pray for relief from the burden and unbearable weight of debt. I'm so thankful that even though I may have made bad choices that got me into debt, You are much bigger than my mistakes. I ask for deliverance from the stress of debt.
The Bible warns us about debt. Proverbs 22:26-27 says Don't be one of those who enter agreements, who put up security for loans. If you have nothing with which to pay, even your bed will be taken from under you.
Biblical prohibitions on usury were later redefined as prohibitions on lending at excessive interest rates. Today, charging interest on loans is an everyday part of life. Modern Christian leaders condemn excessive interest rates, but not the lending of money itself.
It's not a sin to have credit and it never has been, even in the bible. Very few people can live debt free, no matter how rich, no matter how poor, people live with debt, some great and some not so great, but a debt nonetheless.