DAY 10: DEALING WITH DEBT, Part I: God's View

1. Types of Debt
   1. Legitimate
      1. To meet real needs, to provide for necessities (e.g. home mortgage)
      2. To enable you to earn a living (e.g. auto loan, educational loan, business loan)
   2. Sinful, Foolish
      1. To make purchases which are not essential (e.g. entertainment items, vacations, etc.)
      2. Borrowing what you cannot repay or do not know when you can repay.
      3. Borrowing at excessive rates of interest (credit cards).
2. Borrowing
   1. As Christians, borrowing should be an exception, not the rule.
   2. God calls those wicked who borrow and do not repay. (Psalm 37:21)
   3. Let your "yes" be "yes." When you borrow, repay on time. (Matthew 5:37)
   4. When you borrow someone"s property you are responsible for it. For example, if you borrow someone's car and get into an accident, you are responsible to pay the cost of repairs.
3. Lending
   1. Do not charge interest when lending to a brother in need. Have compassion and do not add to people's burdens. (Exodus 22:25-27)
   2. Be generous in lending to those in real need. (Deuteronomy 15:7-8)
   3. Do not lend expecting repayment; therefore, do not lend what you need to get back. For example, do not lend out money you need to pay your rent, expecting the borrower to repay you on time. (Luke 6:34-36)
   4. Do not lend or give money to someone, especially a brother who is idle or unwilling to work Do not lend to people if it promotes their irresponsibility, laziness, or self-indulgence.

PRACTICAL:

• Make a list of your debts. Contact your creditors, ask for forgiveness and let them know your intention to pay in full.

Psa 37:21 The wicked borrow and do not repay, but the righteous give generously;

Mat 5:34-37 But I tell you, Do not swear at all: either by heaven, for it is God's throne; {35} or by the earth, for it is his footstool; or by Jerusalem, for it is the city of the Great King. {36} And do not swear by your head, for you cannot make even one hair white or black. {37} Simply let your 'Yes' be 'Yes,' and your 'No,' 'No'; anything beyond this comes from the evil one.

Exo 22:25-27 "If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest. {26} If you take your neighbor's cloak as a pledge, return it to him by sunset, {27} because his cloak is the only covering he has for his body. What else will he sleep in? When he cries out to me, I will hear, for I am compassionate.

Deu 15:7-8 If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother. {8} Rather be openhanded and freely lend him whatever he needs.

Luke 6:34-36 And if you lend to those from whom you expect repayment, what credit is that to you? Even 'sinners' lend to 'sinners,' expecting to be repaid in full. {35} But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be sons of the Most High, because he is kind to the ungrateful and wicked. {36} Be merciful, just as your Father is merciful.