Biblical Answer

The Biblical Perspective on Debt

The Bible does not explicitly prohibit debt, but it does emphasize the importance of financial responsibility and the need to forgive debts. Jesus taught that our debt to God is cancelled through faith in Him, and He also taught us to forgive others their debts. In Matthew 6:12, Jesus says, "Forgive us our debts, as we also have forgiven our debtors." This indicates that forgiveness is a key aspect of our relationship with God and with others.

The Concept of Forgiveness

Forgiveness is a crucial aspect of canceling debts. When we forgive others, we are not saying that what they did was okay, but rather that we are releasing them from their obligation to us. This is not the same as ignoring the debt or pretending it doesn't exist. Forgiveness is a deliberate decision to cancel the debt and release the other person from their obligation. As Larry Burkett notes, the biblical definition of debt is the inability to meet obligations agreed upon. When we forgive others, we are not saying that they are able to meet their obligations, but rather that we are releasing them from their obligation to us.

Canceling Debt

In some cases, canceling debt may be the best option. When we have been wronged or taken advantage of, it can be difficult to forgive and cancel the debt. However, the Bible teaches us that forgiveness is essential for our spiritual well-being. When we forgive others, we are not only releasing them from their obligation to us, but we are also releasing ourselves from the burden of resentment and anger. As Jesus taught, "You have heard that it was said, 'Eye for eye, and tooth for tooth.' But I tell you, do not resist an evil person. If someone strikes you on the right cheek, turn to him the other also." (Matthew 5:38-39). This means that we should not seek revenge or try to get even with others, but rather forgive them and release them from their obligation to us. When it comes to canceling debt, the Bible teaches us to focus on forgiveness and releasing others from their obligation to us, rather than trying to get them to pay back what they owe.