Biblical Answer

The Problem of Debt

Debt can be a significant burden, affecting not only our finances but also our emotional and mental well-being. The Bible teaches us to render all due obedience to the civil authorities and to live as Christians should, even in the face of difficult circumstances (Romans 13:1-2). However, this does not mean that we must accept debt as a necessary evil. In fact, the Bible encourages us to get out of debt when possible (Proverbs 22:7).

Canceling Debt

Canceling debt is not about forgetting or ignoring the debt, but rather about making a conscious decision to release the obligation. This involves identifying the debt, forgiving the person or entity owed, and making a deliberate choice to cancel the debt. The Bible teaches us to cancel debts and to focus on the truth that they have been canceled (Matthew 6:14-15). This requires strength and a willingness to forgive, as well as a clear understanding of the debt and the consequences of not paying it.

Getting Out of Debt

Getting out of debt requires a combination of financial discipline and spiritual wisdom. This involves creating a budget, living below our means, and avoiding unnecessary expenses. It also requires a willingness to forgive and release debts, rather than trying to hold onto them. As Larry Burkett notes, scriptural debt occurs when the terms of a contract are violated, and Christians must get out of debt when possible (Proverbs 22:7). By following these principles and seeking God's guidance, we can break free from the burden of debt and live a life of financial freedom and peace.