Is God Alright with Debt?

The Bible has been an excellent source of inspiration, motivation and guidance for me. Where I have trouble sometimes seeing what God expects of us is those areas that aren't addressed directly.

While the Bible talks about money and debt, it doesn't even begin to hit modern financial situations. Mortgages & credit cards weren't even in existence then. No one was carrying around a bit of parchment or leather to show the merchants who could then access your bank to withdraw your money for some cloth or other necessity.

As with most things, we have found new and improved ways to push the envelope and stretch the bounds of what we should be doing; or shouldn't be doing, as the case may be. (I doubt they had strip clubs and liquor stores in Biblical times.)

So, while the Bible doesn't say, "Thou shalt not charge up thy credit cards"; I believe we can still find enough information to help us make an educated decision about what is right in this regards.

"Give therefore to everyone what you owe: taxes to whom taxes are due; customs to whom customs; respect to whom respect; honor to whom honor. Owe no one anything, except to love one another; for he who loves his neighbor has fulfilled the law." Romans 13: 7-8

This scripture from Romans doesn't say not to have debt; but to pay what you owe. So, instead of avoiding the phone calls and throwing away those collection letters; we should focus on making sure we are fulfilling our obligations. If you truly owe, then this commands that we pay.

"The wicked borrow and do not repay, but the righteous give generously." Psalms 37:21

It doesn't say not to borrow. It says to repay what you borrow. There aren't any stipulations I see about how long you take to pay. I would imagine if you made an agreement to make payments, then you should keep up with them to follow this though. And as I mentioned yesterday, our duty is first to our family; so we must make sure they are provided for before we make obligations that are too much for us.

And while I can't find anything that strictly forbids debt, I like to keep this scripture handy to remind me of the position we put ourselves in when we take on debt or allow ourselves to get in over our heads.

"The rich rule over the poor, and the borrower is servant to the lender." Proverbs 22:7　

Resources
Day 51 - Charity Begins At Home

Provident Plan - New Covenent Giving Guidelines For Christians

Bible CC - Psalms 37: 21

Bible Gateway - Proverbs 22: 7