Biblical Answer

Understanding Debt and Forgiveness

The question of debt and forgiveness is a complex one, especially when it comes to canceling debt. The Bible does not explicitly outlaw all debt, but rather defines debt as the inability to meet obligations agreed upon. This means that some debts are legitimate and should be paid off, while others may be considered as "deeper debts" that cannot be repaid and should be canceled.

Canceling Debt

Canceling debt means letting go of the past and not expecting payback. This is not the same as forgetting a debt, but rather acknowledging that it cannot be repaid and choosing to forgive. According to the Bible, debts that we are "altogether incapable of discharging" should be released through the remission of Christ's satisfaction of justice. This means that we should not hold onto hurt or anger, but rather choose to forgive and cancel the debt. As Christians, we are expected to forgive others just as God forgave us, and cancel the debts owed to us by others.

Practical Steps to Cancel Debt

To cancel debt, we must first identify what was taken or owed. This can include financial debt, emotional hurt, or other forms of loss. Once we have identified the debt, we must choose to cancel it, acknowledging that it cannot be repaid. This means letting go of the past and not expecting payback. We must also be willing to forgive others and cancel the debts they owe us, just as God forgave us. By canceling debt and forgiving others, we can experience freedom and peace, and live a life that reflects Christian values and teachings. As Larry Burkett says, "The scriptural definition of debt is the inability to meet obligations agreed upon. In other words, some debts cannot be repaid." By canceling debt and forgiving others, we can break free from the cycle of debt and live a life of forgiveness and freedom.