Paying off Debt God's way

Anonymous

Paying off Debt God's way

**Posts:** 20

I certainly understand your concern about passing your debt on to your children. It is important to understand that God doesn't want that either. In fact, He knew that if laws weren't established to protect people, that some predatory lenders would try to enslave people in debt their entire lives. To prevent that, God told his people in Deuteronomy 15: 1-2 that no debt should be allowed to remain for more than 7 years. Any debt that could not be re-paid within that time was to be forgiven.   This means that a person was fully expected to repay the loan, but if they could not fully do so within 7 years, the unpaid balance was to be forgiven.

This is the exact same concept that debt settlement is based on. If you can afford to repay the full amount, within a reasonable time, then you should.  But if you can't, then you should repay as much as you can afford to.

Forgiveness is a fundamental Biblical principle and can be extremenly humbling, so it should never be taken lightly. Just remember that it is also something you should give, as well as receive. (see Mathew 6:12)

-- Edited by Dave@D2P on Monday 27th of April 2009 12:31:29 PM

Anonymous

Also check out Luke 7:41-43, 47. God will forgive our debt to Him if we ask, as is the same with our earthly creditors.

detroit_debtor

I'm sorry I don't understand the bit about my "earthly creditors". These creditors don't abide by God's law, they abide by their own laws.

**Posts:** 19

detroit_debtor wrote:

I'm sorry I don't understand the bit about my "earthly creditors". These creditors don't abide by God's law, they abide by their own laws.

You are absolutely right, these "earthly creditors" do not abide by God's law, but they are still shrewd in matters of finance as the Bible points out in Luke 16 where Jesus gives the parable of the shrewd manager. Even "earthly creditors" will forgive debts when it is in their own best interest.

Here is an interesting question that just occurred to me. If "earthly creditors" know how to forgive others when it's in their own best interests, should we as Christians forgive our lenders for all their abuses to us (usurious interest, fees, etc)? Ouch! I think I just hit myself with my own "Bible Bat"

Anonymous

Anonymous wrote:

Doesn't God want us to pay back everything we owe? I struggle sometimes in joining a settlement company because I feel that I have a moral obligation to pay my creditors back every single dime I owe them. I know that the bible says that a lender has the power over the borrower and I am tired of being powerless and paying the minimums sometimes and running behind sometimes. I want to pay off my debt but it seems like I am getting to a place where there is a light at the end of the tunnel.

One thing I know is, Idon't want to is pass my debt on to my children. I want to be a blessing to my children. Can you please advise me?

If you feel that there is a light at the end of the tunnel it might be premature to consider a debt settlement program (as long as you are sure that the light isn't an oncoming train)

As far as feeling a moral obligation to repay the full balance, there isn't anything that says you can't use a settlement plan and still pay any forgiven balance later on when you do have the money.

**Posts:** 46

Anonymous wrote:

Doesn't God want us to pay back everything we owe? I struggle sometimes in joining a settlement company because I feel that I have a moral obligation to pay my creditors back every single dime I owe them. I know that the bible says that a lender has the power over the borrower and I am tired of being powerless and paying the minimums sometimes and running behind sometimes. I want to pay off my debt but it seems like I am getting to a place where there is a light at the end of the tunnel.

One thing I know is, Idon't want to is pass my debt on to my children. I want to be a blessing to my children. Can you please advise me?

In Deuteronomy 25:13-16 we see that God hates dishonest scales and wants all of us to be honest in our dealings with each other. This applies to the borrower and the lender as well. While it can certainly be argued that many lenders have used deceptive and dishonest weights in determining how much you have to repay, does this mean you get a free pass and don't have to repay the debt? I think if you look at the passage I mentioned carefully you will see that God expects you to be honest in your efforts to repay the debt. If you can honestly repay the full amount then do so. But if you can't, then repay what you can honestly afford. When used this way, debt settlement is an ethical, and even scriptural, alternative.

**Posts:** 19

One of the best questions I think a person can ask themselves when facing a moral question is "What Would Jesus Do?" When it comes to advice on getting out of debt that can be a hard one to answer because Jesus never got into debt. However he did have a run in with financial institutions of His time...namely the money changers. In that encounter He literally overturned their tables and sent their assets flying everywhere. That example tells me He was outraged by the practices they employed to cheat and swindle others. I can easily picture Him feeling the same way about credit card companies. Maybe it's no coincidence all the banks need bailouts.