Biblical Answer

The Biblical Perspective on Debt

The Bible does not prohibit debt outright, but rather emphasizes the importance of managing debt responsibly. In Proverbs 22:7, it is written, "The rich rule over the poor, and the borrower is a slave to the lender." This verse highlights the potential consequences of accumulating debt, including a loss of financial freedom and autonomy. It is essential to approach debt with caution and to make informed decisions about borrowing and lending.

Principles for Managing Debt

When faced with the need to go into debt to pay for medical bills, it is crucial to follow several key principles. First, assess the situation carefully and explore all available options for financing medical expenses. This may include seeking financial assistance from the medical provider, applying for government programs, or negotiating a payment plan. Second, prioritize needs over wants and allocate resources accordingly. In times of financial crisis, it is essential to focus on essential expenses, such as medical bills, over discretionary spending. Third, communicate openly and honestly with creditors and seek their assistance in developing a manageable repayment plan.

God's Sovereignty and Debt

While the Bible does not explicitly address the issue of debt, it does emphasize God's sovereignty over all aspects of life, including finances. In Psalm 50:10, it is written, "For every beast of the forest is mine, and the cattle on a thousand hills." This verse reminds us that God is the ultimate owner of all resources and that He has the power to provide for our needs. In times of financial crisis, it is essential to trust in God's sovereignty and to seek His guidance and provision. By doing so, we can navigate the complexities of debt with confidence and wisdom. Ultimately, our relationship with God is the most critical factor in managing debt, and it is essential to prioritize our faith and trust in Him above all else.