Articles, Current Series, On To Maturity, Quiet Times

Day 10 – Dealing With Debt

Part 1 – God’s View

Types of Debt

  • Legitimate
    • To meet real needs or provide for necessities
    • Home mortgage
    • Auto Loan
    • Educational Loan
  • Sinful, Foolish
    • To make non-essential purchases
    • Entertainment items
    • Vacations
    • Borrowing what you cannot repay or do not know when can repay
    • Borrowing at excessive rates of interest

Borrowing

  • As Christians, borrowing should be the exception, not the rule.
  • Do not let any debt remain outstanding, remain totally debt free! (Romans 13:8)
  • God calls those who borrow and do not repay wicked (Psalm 37:21)
  • Let your “Yes” be “Yes.” When you borrow, repay on time (Matthew 5:37)
  • When you borrow someone’s property you are responsible for it. For example, if you borrow someone’s car and get into an accident, you are responsible for the cost of repairs.

Lending

  • Do not charge interest when lending to a brother in need.
  • Have compassion and do add to people’s burdens (Exodus 22:25-27)
  • Be generous in lending to those in real need (Deuteronomy 15:7-8)
  • Do not lend expecting repayment; therefore, do not lend what you need to get back.
  • Lending your rent money expecting the borrower to repay on time (Luke 6:34-36)
  • Do not lend or give money to someone who is idle or unwilling to work, even if they are a Disciple! Do not lend to people if it promotes their irresponsibility, laziness or self indulgence.

Practical

  1. Fill out the debt work sheet on page 19.
  2. Make a plan to repay all of your debts!
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