What Does The Holy Bible Says About Debt

As debt is becoming the most widely used financial term in today’s economy, we can hear everyone starting from our parents to the national politicians talk aloud about its damages and impending dangers. We are now familiar with all jargons and terminologies related to financial troubles and deficits, along with various debt relief options called debt settlement plans and debt consolidation solutions etc. But have you ever wondered about what the holy scriptures of The Bible says about debt, credit and debtors? It is intriguing as well as ambiguous to know the numerous connotations and significance of debt according to Bible and its verses, apart from the different ways people have conveyed the meanings. Nevertheless, Bible’s enlightening implications on debt can build one’s faith and conviction on the holy book through which God wants convey that “Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.” (Romans 13:8)


According to The Bible, when a person borrows from someone, he/she goes into a slave/mastership relationship with the lender and thus the borrower should pay back the lender soon, but then it also asks us to lend to others in need. However, no portion of bible mentions that it is sin to be in debt. God definitely does not want us to remain enslaved to debt, when he has come in the form of Jesus to free us from all our bondages. The Bible also signifies that God always want his children to lead a free and debt-free Christian life, but we as the only stewards of our ship named life, exercise free will in managing and sometimes mismanaging our money, by spending more than we earn, which ultimately leads us to debts and deficits. Thus it does not matter how much does God provides, for as long as we keep spending more than we earn, we will never be free from our debts. God has provided us the opportunity to use our finances to build his kingdom, as every decision we make to utilize our finances can be much greater than we realize. The treasure to love is kept open to us, it is just up to us where we want to store it; under the earth or up on the heaven!

Don’t Fall in the Trap of Junk Debt Buyers

The fear and insecurity that debts create in a debtor’s life remain as a reason for many recurring nightmares in his life to come. In the due course of time, with the help of various debt relief options, and after facing much harassment's from debt collectors, a debtor finally gets cured from his overwhelming outstanding with an ongoing process. Long after the debtor frees himself from all shackles of debt, suddenly what happens if an unknown collection agency or a set of collectors appear out of nowhere and re-start the collection process against some delinquent debts, from the debtor? One need not get worried of their hollow threats and fake actions, as these are none other than a bunch of junk debt buyers who buys bad and delinquent debts for pennies from creditors and collection agencies in order to pursue the debtors to re-affirm their dead debts, by using unfair and illegal methods and processes.

In most of the cases, the debtors become panicky in such situations out of renewed fear and revamped thoughts, which furthermore creates confusion and tension in them. Thus out of such a chaotic financial dilemma, a debtor foolishly and unknowingly begins to search for means to pay these already-dead or delinquent debts, forgetting the rights assured by Federal Trade Commission, Better Business Bureau and Fair Debt Collections Act Practices, which says that a debtor is no longer bound or obligated to pay the debts which has surpassed the time-period of its Statute of Limitation.Thus in such cases when one faces harassments and compulsions from junk debt buyers, the debtor needs to have presence of mind in order to negate the process based on its illegitimacy. A fearful and confused debtor will appear vulnerable to the junk debt buyers which will turn the tables against the debtor. He /she should know all about the particular collectors from business and debt websites and should fight them back with the power of knowledge and law.