Part 1 – God’s View
Types of Debt
- To meet real needs or provide for necessities
- Home mortgage
- Auto Loan
- Educational Loan
- Sinful, Foolish
- To make non-essential purchases
- Entertainment items
- Borrowing what you cannot repay or do not know when can repay
- Borrowing at excessive rates of interest
- 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.
- 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.
- Fill out the debt work sheet on page 19.
- Make a plan to repay all of your debts!