Biblical Answer

Principles of Biblical Debt Management

The Bible does not explicitly outlaw all debt, but rather defines debt as the inability to meet obligations agreed upon (Burkett). However, it is clear that excessive debt can lead to financial and emotional distress. In the face of overwhelming debt, it may be necessary to cancel or forgive debts, rather than trying to repay them. This can be a difficult and painful process, but it can also be a necessary step towards financial freedom and spiritual healing.

Seeking Forgiveness and Closure

In the process of managing debt, it is also important to seek forgiveness and closure with those who have wronged us. This can involve making a list of those who have mistreated or taken advantage of us, and seeking to forgive them (For True Change). It is also important to remember that forgiveness is not the same as forgetting or condoning the behavior. Rather, it is a choice to release the negative emotions and energies associated with the debt, and to move forward in a positive and healthy way.

Prioritizing Spiritual Growth

Ultimately, biblical debt management is not just about paying bills or avoiding debt, but about prioritizing spiritual growth and development. By living a life of obedience to God and His laws, we can experience true freedom and peace, even in the midst of financial challenges. As the apostle Paul writes, "Let your one continuing debt be the debt of love" (Romans 13:8). By prioritizing love and forgiveness, we can break free from the cycle of debt and financial stress, and experience the joy and freedom that comes from living a life surrendered to God.