Financial Debt

What does the bible have to say about debt ? Is it a sin to get into debt. Apparently the Hebrew word for debt is a bite of a serpent. The reason I am asking this is that people always come up to me and tell me that I need to settle down etc... and upon further clarification they what me to take a loan to buy a house or a car etc (some how they have associated settling down to a mortgage ) . I have always maintained that this is too much pressure and somehow results in people who are free getting into bondage. I would love to hear your thoughts.

Once again I have had tremendous benefits from this site where brothers and sisters have given some excellent advice in matters pertaining to relationship, alcohol etc... I want to thank you all and trust where ever you are you will find the strength and power from the Holy Spirit to live for Jesus.

Joe

Hi, you can go first through some older threads like:

[b]CREDIT CRUNCH[/b]
https://www.sermonindex.net/modules/newbb/viewtopic.php?topic_id=24071&forum=35

You know, you have already answered your own question. You seem to realise yourself, that, as you have said, 'people who are free getting into bondage'.

That is what debt is, getting into bondage. Why live above our means? If we can't afford it, we should not get it. Especially with money that is not ours, and that we have to pay intrest on.

I suppose the scripture we could look at is Romans 13v8 which tells us, 'Owe no one anything except to love one another, for he who loves another has fulfilled the law.'

Yes, it speaks concerning love, but we should not owe anyone anything, that includes money.

Why does the church have to emulate the world in everything? The world is in debt, so the church has to be in debt. Or so it appears.

Deuteronomy 15 speaks concerning debt, and being generous to the poor, to not forget them.

If we are caught up in debt ourselves, how can we help anyone?

If you have a roof over your head, food on your table, and the blessings of the Lord, why put yourself in unnecessary finacial stress?

May God lead you and guide you in any decision you make.

The reason I am asking this is that people always come up to me and tell me that I need to settle down etc... and upon further clarification they what me to take a loan to buy a house or a car etc (some how they have associated settling down to a mortgage ) . I have always maintained that this is too much pressure and somehow results in people who are free getting into bondage. I would love to hear your thoughts.

Three scriptures I live by in this regard and all are equal in importance:

[color=000066]Trust in the LORD with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge him, and he shall direct thy paths. (Proverbs 3:5,6)

But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and raiment let us be therewith content. (I Timothy 6:6-8)

Delight thyself also in the LORD; and he shall give thee the desires of thine heart. Commit thy way unto the LORD; trust also in him; and he shall bring it to pass. (Psalm 37) [/color]

I have seen it happen over and over again. I have owned my own home debt free for over 5 years. I had to be sensitive to God and refuse to allow the world or others to dictate to me what was good and right. I had to follow God. I am looking to take another step now if the Lord wills that I feel he is leading.

Don't do anything without genuinely seeking the face of God. the last time I bought a car without seeking God my wife and kids drove it home on fire and it burned up in a horrific display in my driveway. I won't do that again!

Typically God will put His will in your heart and then He will bring it to pass. Patience in this matter means putting things on the back burner a lot and allowing God to work. Timing is everything and He is the ultimate strategist. He knows what He is doing and why.

Seek God in every matter of life in earnest and sincerity; career, job, church home, car, house, etc. etc. Lean upon the Lord and be patient. Your life has a master plan. God knows it so allow Him to direct and guide.

This is an old thread, but the content is always timely as debt, mortgage, credit, and other related matters is a lingering issue. It is not necessarily a sin but it can be, even as bondage, a big headache or a nightmare. So don't give it a totally blind shot.

This is a multifaceted issue of faith, stewardship, pride, covetousness, foolishness,and wisdom. Read the past thread and gain insight.

I agree that this thread should always be visible for newcomers to see.. and for oldtimers to discover again. Living in debt is, in my opinion, a grave sin because it plunges you in despair and you can end up questioning God, your faith, and everything you have believed in beforehand.

I know it from a first hand experience, since it is how I ended up spending ten years of my life violently fighting religion and capitalism.

However, it is true that being a homeowner in these days is extremely hard to do without getting in debt ; you either have to earn a very high salary, or inherit a house (that you can later on either use for yourself, or sell to fund something else). This raises another issue, the fact that most Christian families have several children and they can't all inherit their parents' house, but this is another topic for another day.

But let's look at this objectively : if you are not earning 6 or 7 figures a year, how exactly are you going to buy a house without getting in debt? For example, let's look at this flat : https://tranio.com/usa/adt/1593808/
which is not the cheapest thing ever, but allows you to live with your wife and children in good conditions (sorry if I could not find anything else regarding flats for sale in the USA, I am from France and thus don't know American-based sites). You need quite a high end job to bring out this sum without getting in debt ; does this mean that people who are not rich need to commit the sin of getting into debt?

Psalm 37:21 states, "The wicked borrow and do not repay." So I'm guessing that it's ok to borrow and be in debt for a time, as long as you pay it back.

Here is my take on Dept. There is nothing wrong in taking a mortgage for taking a home. We all need a home to live and if buying one using Mortgage makes better sense than renting then there is nothing wrong. I have been renting house in USA for over 8 years, I know how much I have put in that without anything to take from!

The idea with Mortgage for home is, in case you cannot pay then they will take your home away which is ok.

Dept becomes bad and unchristlike when we take it for vacation or celebrating a wedding etc. Credit card dept is bad if we pay interest for it. I have a policy that if I ever pay interest on a credit card then I am unworthy to own one. My only reason to have a credit card is to build credit history which is unfortunately a tactic of world system. It should be based on saving History and not credit history.