What Does the Bible Say About Debt?
Debt is a severe problem in our culture. Everywhere we look, from most governments to a majority of individuals throughout the world, debt is a way of life, with consequences from mild to severe. There are many opinions regarding debt and its impact, but what really matters, especially for us professed Christians, is what the Bible says about it.
There are surprising few scriptures that address this topic of debt. Literal translations, depending on which one you look to, only show between 10 to 12 verses on the subject, and none of them address the morality of it. Yet, in speaking with most Christians, you will find their opinion leaning toward a moral (right or wrong; good or bad) understanding. A few spiritual leaders even go as far as defining debt as sin or a result of the disobedience of God's laws and impose strict rules for congregation members to avoid it. Get into any debt, and you're like to be ostracized or removed from fellowship.
What is debt?
Debt is something, typically money, that is owed or due. That's it! Notice the definition doesn't qualify debt as good or bad; it's simply a condition. Being in debt is owing someone something with the expectation that it be paid back at some point in the future. To ascribe morality to a debt situation is to form an opinion as to why the debt was created and judge the person(s) accordingly.
The problem with this approach is that we often get it wrong because there are many reasons people get into debt, sometimes of their own choosing and other times not. The widow of 2 King's 4 found herself in debt and at risk of losing her sons because her husband passed away, and she could not satisfy his creditors. Should we judge her as being in sin or disobedient toward God's laws because she was in debt?
The Bible doesn't say debt is a sin or a result of disobedience. We assume it does, but not because it says it directly, but because of what we've heard or what we've interpreted from other scriptures we've read. Here are the Biblical references to debt and what they mean:
Deuteronomy 15:1 - Debt is to be released.
1 Samuel 22:2 - Those who were in debt came to David.
2 Kings 4:7 - Pay your debts.
Nehemiah 10:31 - Forgo the exaction of every debt.
Proverbs 22:26 - Do not become guarantors for debts.
Matthew 6:12 - Forgive us our debts, as we forgive our debtors.
Matthew 18:27, 30, 32, 34 - Forgive because your debts have been forgiven.
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.
The Bible's central message regarding debt is that it should be released/canceled, paid, or forgiven. It doesn't always refer to debt as financial, and it overwhelmingly focuses on our response to debt situations while only referencing one verse instructing us not to guarantee a debt. Another way to state this is that ninety percent of the scriptures using the word debt are about how we should respond to it, and only ten percent on avoiding it.
Am I saying debt is something we should engage in? No! I don't believe financial debt should be a pursuit for anyone, especially Christians. But we should not ascribe morality to debt issues or simply judge them to be wrong in all situations. Doing so would be unfair and could lead to all kinds of abuses.
To better understand debt and its implications, we must consider the action that precedes debt, which is borrowing.
Like debt, the Bible has few verses that specifically use the word borrow(er) (ing), but those few verses are enough to give us the insight and wisdom we need.
What the Bible says about borrowing:
Exodus 22:14 - If anything is borrowed, it should be paid back. If what is borrowed is lost or injured, full restitution must be made.
Ps 37:21 - The wicked borrows but does not pay back, but the righteous is generous and gives.
The Bible is clear that when something is borrowed is should be paid back. Someone refusing to repay reveals a wicked heart and not the generous and giving heart God wants us to have. It's imperative that when we engage in any borrowing, we consider our ability to repay. Borrowing without having a sure way to pay violates another principle, the principle of surety. More on this later.
Deuteronomy 15:6 - If you are faithful in obeying God's commandments, you will be blessed and able to lend and not borrow.
Deuteronomy 28:12 - You will lend to many nations but not have to borrow.
Matthew 5:42 "Give to him who asks you, and from him who wants to borrow from you do not turn away.
According to these scriptures, faithfully obeying God's commandments results in being blessed, giving you the ability to lend, having no need to borrow. Being a lender is better than being a borrower, but not for the reason you may think. Because of our materialistic culture, we usually think of lending as a way to increase or make a profit; that's not how God looks at it. According to the Bible, lending is not about increasing profit; it's about being generous toward those in need (Leviticus 25:37; Matthew 5:42; Exodus 22:25), something we're all encouraged to do.
2 Kings 4:3 - Go outside, borrow many vessels from your neighbors, empty vessels, and not too few.
2 Kings 6:5 - "Alas my master! It was borrowed."
Sometimes borrowing is necessary. The widow was encouraged to borrow many vessels to have more oil to sell to repay the loan her husband had made and then provide for her and her sons enough to live on. One of the sons of the prophets borrowed an ax, which he used to make a dwelling for himself and others. These examples suggest that borrowing should be limited to providing for the things we need.
Proverbs 22:7 - The rich rule over the poor, and the borrower is the slave of the lender.
One thing is sure; borrowing leads to obligations and loss of freedom. I have counseled too many people who felt trapped and enslaved by their debt. Many of them knew God was calling them to something different, but the debt kept them from being able to pursue it. Their house, cars, and big-screen TV, or whatever else they borrowed to purchase, kept them from doing what they were designed to do. Without realizing it, they chose the temporal over the eternal (Luke 9:25).
Jeremiah 15:10 - I have not lent, nor have I borrowed, yet all of them curse me.
Isaiah 24:1-2 - Whether a borrower or a lender, it doesn't matter; all will be subject to God’s judgment.
Being a lender or a borrower can create relational tensions and conflicts. At the end of our life, God alone will rightly judge our actions, whether they were wise or foolish. This is worth remembering and should always influence our decisions. People are prone to judge our actions. Our best approach is to ignore the judgment and opinions of others regarding debt and instead seek to understand and obey God's word on the matter.
If you find yourself in debt, know that God loves you and he cares about your situation. God loves you as you are. Having debt won't reduce his love toward you, and being debt-free won't increase it. Debt, however, should be avoided because it has a way of directly affecting our relationship with God in two primary ways.
1. Debt presumes on the future.
James 4:13-15 warns us not to make plans to prosper while ignoring God's will and purpose. Instead, we should embrace the mindset, "If the Lord wills, we will live and do this or that." Pursuing our will is too often the reason debt is created. We seek to be increased with goods instead of increasing our faith and dependence on God.
James takes it one step further. Since we do not know what the future brings, he tells us that acting in ways that presume on the future is boastful, arrogant, and evil. A majority of borrowing today presumes on the future. It's making a pledge or guarantee to repay without having a sure way of doing so. The Bible refers to this as surety and strongly warns us against engaging in such acts (Proverbs 6:1-5; Proverbs 11:15; Proverbs 17:18).
2. Debt denies God the opportunity to provide what we "really" need.
God knows what you need, and he's promised to provide. The problem is we chose to define our needs by our standards, rejecting God's provision as not being enough. We then do whatever it takes to get what we want, even if it involves borrowing. We fail to realize that sometimes God's way of providing what we need the most is to deny us what we want the most.
Conclusion
I have learned much about debt, borrowing, and lending over the years, and I'm still learning. It's not as black and white, right or wrong, as I wish it were. I'm not sure why this is the case. I assume it's primarily to cause me to go to the One who has the answer and can provide the wisdom I need in every situation.
For Further Study:
Why is Tithing Relevant to Us Today?
Reasons Your People Aren’t Giving and What You Can Do About It
How Generosity Reveals your Heart
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