Posted on May 29, 2009 at 3:57 am Does the Bible say anything specific about debt?

Posted on May 31, 2009 at 2:46 pm In the Book of Romans Paul mentions that the only debt humans should incur is the debt of love. In Proverbs 22:7 it states that the debtor-lender relationship is similar to that of a slave-master relationship. In Psalm 37:21, it states that we should pay back anything we borrow. Interpret these references how you may. Other than that I am not familiar with other Bible passages that make reference to debt. Does anyone else?

Posted on May 31, 2009 at 8:54 pm It is perhaps a question that only Bible scholars can answer. When you said "specific" it made me think of the generations it took for that bible to evolve and also the kinds of organizations and governments that was in place when it was written. Some of those books were written while the Israelite were in exile or on the run. Some when they have settled in a new territory. Remember also that it was written for a specific group of people to live by and may not be for everybody.However, just to give you an example, and to add to Steven's examples, and this is regarding the lender, more than the debt itself, or the borrower:Do not take a pair of millstones, not even the upper one, as a security for a debt, because that would be taking a person's livelihood as security. (Deuteronomy 24:6)In a contemporary world view, this could mean that the lender should not take away the source of the borrower's livelihood just so the debt could be repaid. We see a lot of this happening in today's business dealings and the government laws do not seem sufficient to protect the consumers. A lot of homes are being foreclosed because they were used as collateral, wages are garnished, and so on.Again, the Bible was written in a different political and economic standpoint, and also for a specific group of people. That should explain the discrepancy between its laws and the laws of the contemporary world.

Posted on May 31, 2009 at 10:37 pm An interesting note on where the law makers may have gotten the idea of bankruptcy staying on the consumers credit report (7-10 years depending on the chapter):In Deuteronomy 31:10 it states that:Then Moses commanded them: "At the end of every seven years, in the year for canceling debts, during the Festival of TabernaclesI agree with citizenoftheplanet though that this may be a topic that should be answered by the Bible scholars.

Posted on June 2, 2009 at 4:48 am Just to add to the previous points above, the Bible does not specifically say that debt is a blatant sin. However, it does state that anything borrowed should be repaid, especially if the funds or resources are available. The Bible also does not state any direct correlation between God's provision and loans--that is, there are no situations or instances in the Bible that shows God providing for the people thru acquiring debts.

Posted on June 2, 2009 at 5:28 am I wish we are back in the biblical times:"Neither of them had the money to pay him back, so he forgave the debts of both. Now which of them will love him more?" - Luke 7:42

Posted on June 2, 2009 at 5:32 am Why are their debts if:A psalm of David. The LORD is my shepherd, I lack nothing. - Psalm 23:1

Posted on June 2, 2009 at 5:43 am It is because of greed. Over consumption and lust for what is not ours. I think they are in the seven deadly sins. I think that before, there were no countries yet, no governments, and forms of covetous economic type (Capitalism)--it was just plain reciprocity between peoples. Giving and taking is a form of a social bond. But I agree with the others, theirs (in the biblical times) was a small group of people living by a set rule.

Posted on June 4, 2009 at 1:12 am An interesting note about charging interest, in ancient Israel, it was prohibited. Leviticus 25:35-38:If any of your own people become poor and are unable to support themselves among you, help them as you would a foreigner and stranger, so they can continue to live among you.  Do not take interest or any profit from them, but fear your God, so that your poor neighbors may continue to live among you. You must not lend them money at interest or sell them food at a profit.  I am the LORD your God, who brought you out of Egypt to give you the land of Canaan and to be your GodThis law works because historically, the ancient Israelites were once slaves of ancient Egypt but their God brought them out of slavery and even gave them a homeland. What God was basically saying was for the well off citizens to extend the same kindness to the poor citizens--not to punish them.

Posted on June 9, 2009 at 6:45 pm Biblically: The Bible says many things and is meant to be used as a whole. Like building blocks, one can choose the ways that will cause good success in every area.One can do a web search to find scripture that references these things: The work of your hands will be blessed.  Lend but don't borrow.  The poor will be with you always.  What you do for the least, you do for the Lord.  Consider a field and buy it.  Look to the ants.  Plant in good ground.  Wisdom is the principle thing.  Give and it shall be given you.  Be moderate.  Pray for those who rule over you.  Fear not, only believe.  Be honest, fair, keep your promises.  The Lords mercies are new everyday so we should be optimistic and have an attitude of a fresh start, regardless of our yesterdays..    In Matthew 18 there is a parable about a debtor being forgiven yet unwilling to forgive those who are indebted to himself.  This has an obvious lesson of forgiveness.  It seems also to be a lesson in doing unto others as you'd expect done for yourself.