The Bible has a whole lot to say about debt.  Debt is the state of owing another something which is typically money.  It is often a state of bondage as you are legally and morally liable to repay that debt.  It is one of the largest stress factors in our American society and is a leading contributor to divorce!  So by those definitions, it certainly sounds like debt is not a good thing.  But let’s look and see what the Word of God has to say about debt.

Exodus 22:25-26 “If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury. If thou at all take thy neighbour’s raiment to pledge, thou shalt deliver it unto him by that the sun goeth down: For that is his covering only, it is his raiment for his skin:”

Scripture tells us that if we are the ones lending, we are not to be like the normal lender taking the one in debt’s clothes!  That’s a scary thought that a lender could even go so far as to take our very clothes.

2 Kings 4:7 “Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest.” 

Here we see the example of selling all that you have to get out of debt.  This widow was about to lose everything, and the Lord miraculously provided a food item (oil) which is also a commodity.  And she was told to go, sell it, and get out of debt.   

Proverbs 11:15 “He that is surety for a stranger shall smart for it: and he that hateth suretiship is sure.”  As well as Proverbs 22:26-27:  Be not thou one of them that strike hands, or of them that are sureties for debts. If thou hast nothing to pay, why should he take away thy bed from under thee?”

We are not to be co-signers for any reason!  It’s that plain and simple.  When we co-sign, we risk our own assets which the Lord has entrusted to us, and that is a very un-wise decision!

Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”

This gives us the clear instruction that we are not to be in debt, period.  There are no exception clauses here.  It doesn’t say “owe no man anything except for your mortgage or your student loans.”  It says “own no many ANY THING.”  We are to be debt free.  If you are not debt free, begin working to become debt free now!

Colossians 2:14 “Having canceled out the certificate of debt consisting of decrees against us, which was hostile to us; and He has taken it out of the way, having nailed it to the cross.” 

And finally, we are told that our ultimate debt is our sin debt, and Yeshua (Jesus) our Messiah paid that debt in full for us on the Cross. 

Have you excepted His payment for our sins by trusting Him as Messiah?  If not, you need to become spiritually debt free as well by seeking His forgiveness for your sins and trusting Him as your Savior.