What does the Bible say about debt? Did Jesus mention debt? How about Moses? Was debt mentioned in the first five books of the old covenant? How often was debt discussed in the wisdom books? Was debt always mentioned in a negative manner?
There are actually only a handful of Bible verses that mention debt directly. Debt is mentioned negatively, positively, and neutrally in the Bible. It’s not always doom and gloom. Debt, in the Bible, is not described as immoral or sinful. Yes, debt can be risky but it won’t send a person to hell.
Debts Canceled
Debts were canceled every seven years in the Old Covenant. Sounds like a great plan unless you’re the one making the loan!
Deuteronomy 15:1 At the end of every seven years you must cancel debts.
Nehemiah 10:31 When the neighboring peoples bring merchandise or grain to sell on the Sabbath, we will not buy from them on the Sabbath or on any holy day. Every seventh year we will forgo working the land and will cancel all debts.
Deuteronomy 15:9 Be careful not to harbor this wicked thought: “The seventh year, the year for canceling debts, is near,” so that you do not show ill will toward the needy among your fellow Israelites and give them nothing. They may then appeal to the Lord against you, and you will be found guilty of sin.
Bible Verses About Debt — Old Testament
Psalm 37:21 The wicked borrow and do not repay, but the righteous give generously
When we borrow we must repay. The Psalmist refers to the deadbeat borrower as WICKED.
Deuteronomy 28:12 The Lord will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none.
This is not a promise for us to “confess” debt freedom over our lives. This promise is to the nation of Israel and it’s totally based on keeping the law — which is impossible.
2 Kings 6:5 As one of them was cutting down a tree, the iron axhead fell into the water. “Oh no, my lord!” he cried out. “It was borrowed!”
Proverbs 22:7 The rich rule over the poor, and the borrower is slave to the lender.
Lenders, long ago, could take borrowers captive to work off debts. It was perfectly legal and common. That will not happen in the 21st century.
Bible Verses About Debt — New Testament
New Covenant bible verses often refer to forgiveness of sin, not money. Jesus mentioned debt in the Sermon on the Mount and during the parable of the Unforgiving Servant. Money, although used to make a point in the parable, was not the primary object.
Debt is also mentioned in the Parable of the Wicked Manager (Luke 16). Once again, Jesus simply uses debt to make His point in the parable.
Romans 13:8 Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.
Debt mentioned in Romans 13 is often taken out of context as well. In a theological sleight of hand, preachers will use the Amplified version to make their point about debt.
Sadly, those same preachers are often making mortgage payments on their church buildings.
Cosigning Bible Passages
Cosigning is never mentioned in a positive manner in the Bible. We’re told to avoid it and only fools participate in the activity.
Proceed with caution!
Deuteronomy 24:6 Do not take a pair of millstones—not even the upper one—as security for a debt, because that would be taking a person’s livelihood as security.
Proverbs 11:15 Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe.
Proverbs 17:18 One who has no sense shakes hands in pledge and puts up security for a neighbor.
Ezekiel 18:16 He does not oppress anyone or require a pledge for a loan. He does not commit robbery but gives his food to the hungry and provides clothing for the naked.
Good Debt vs. Bad Debt
My friend Dave despises debt. Debt, according to him, is toxic.
Manage debt properly.
Let’s refrain from exaggerations, however.
I Samuel 22:2 All those who were in distress or in debt or discontented gathered around him, and he became their commander. About four hundred men were with him.
2 Kings 4:3-4 Then he said, “Go outside, borrow vessels from all your neighbors, empty vessels and not too few. Then go in and shut the door behind yourself and your sons and pour into all these vessels. And when one is full, set it aside.”
2 Kings 4:6-7 When the vessels were full, she said to her son, “Bring me another vessel.” And he said to her, “There is not another.” Then the oil stopped flowing. She came and told the man of God, and he said, “Go, sell the oil and pay your debts, and you and your sons can live on the rest.
Dave Ramsey And Debt
Dave Ramsey declared war on debt many years ago. One of his famous statements is, “Debt is dumb!”
Ramsey Solutions has helped thousands of families break free from financial debt.
Unfortunately, Dave also takes theological liberties with a Proverb that is a cornerstone of his flagship course, Financial Peace University.
Escape like a gazelle from a hunter, like a bird from a hunter’s trap.
Proverbs 6:5 (CSB)
Proverbs 6:1-5 does not directly address the issue of debt. Dave uses the term “gazelle intensity” to fire up the troops to get out of debt. It works too!
Millions of families incorrectly interpret a bible verse but it’s apparently for their own good. Something about the ends justifying the means? Sigh.
Debt Is Not Sin
Debt is risky but it’s not dumb or sinful. The wicked borrows but doesn’t repay.
In many instances, debt avoidance might be best. That’s not always possible, though.
Resist consumer debt. Embrace contentment. Rid yourself of unnecessary debt.
Stay free from shame and guilt.
Here’s an article on getting out of debt that I wrote.
I dare you to profit!