What God says about Borrowing
Don’t borrow, you become a servant to the lender
4 except when there may be no poor among you; for the LORD will greatly bless you in the land which the LORD your God is giving you to possess as an inheritance– 5 only if you carefully obey the voice of the LORD your God, to observe with care all these commandments which I command you today. 6 For the LORD your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you. (Deut 15:4-6)
7 The rich rules over the poor, And the borrower is servant to the lender. (Proverbs 22:7)
God blesses those who refuse to borrow
1 “Now it shall come to pass, if you diligently obey the voice of the LORD your God, to observe carefully all His commandments which I command you today, that the LORD your God will set you high above all nations of the earth. 2 And all these blessings shall come upon you and overtake you, because you obey the voice of the LORD your God:
12 The LORD will open to you His good treasure, the heavens, to give the rain to your land in its season, and to bless all the work of your hand. You shall lend to many nations, but you shall not borrow. (Deut 28:1,2,12)
The lender will take your wealth
15 “But it shall come to pass, if you do not obey the voice of the LORD your God, to observe carefully all His commandments and His statutes which I command you today, that all these curses will come upon you and overtake you:
43 “The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.
45 “Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed, because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you. (Deut 28:15,43-45)
Owe love, not cash
8 Owe no one anything except to love one another, for he who loves another has fulfilled the law. (Romans 13:8)
Christ does not gives us permission to pursue bondage
23 You were bought at a price; do not become slaves of men. (I Corinthians 7:23)
If you have debt, pay it
21 The wicked borrows and does not repay, But the righteous shows mercy and gives. (Psalm 37:21)
27 Do not withhold good from those to whom it is due, When it is in the power of your hand to do so. 28 Do not say to your neighbor, “Go, and come back, And tomorrow I will give it,” When you have it with you. (Proverbs 3:27-28)
26 Do not be one of those who shakes hands in a pledge, One of those who is surety for debts; 27 If you have nothing with which to pay, Why should he take away your bed from under you? (Proverbs 22:26-27)
God helps a woman work to get out of debt
1 A certain woman of the wives of the sons of the prophets cried out to Elisha, saying, “Your servant my husband is dead, and you know that your servant feared the LORD. And the creditor is coming to take my two sons to be his slaves.”
2 So Elisha said to her, “What shall I do for you? Tell me, what do you have in the house?” And she said, “Your maidservant has nothing in the house but a jar of oil.”
3 Then he said, “Go, borrow vessels from everywhere, from all your neighbors–empty vessels; do not gather just a few. 4 And when you have come in, you shall shut the door behind you and your sons; then pour it into all those vessels, and set aside the full ones.”
5 So she went from him and shut the door behind her and her sons, who brought the vessels to her; and she poured it out. 6 Now it came to pass, when the vessels were full, that she said to her son, “Bring me another vessel.”
And he said to her, “There is not another vessel.” So the oil ceased. 7 Then she came and told the man of God. And he said, “Go, sell the oil and pay your debt; and you and your sons live on the rest.” (2 Kings 4:1-7)
Do not co-sign for someone’s loan
18 A man devoid of understanding shakes hands in a pledge, And becomes surety for his friend. (Proverbs 17:18)
Get out of debt as fast as possible
1 My son, if you become surety for your friend, If you have shaken hands in pledge for a stranger, 2 You are snared by the words of your mouth; You are taken by the words of your mouth. 3 So do this, my son, and deliver yourself; For you have come into the hand of your friend: Go and humble yourself; Plead with your friend. 4 Give no sleep to your eyes, Nor slumber to your eyelids. 5 Deliver yourself like a gazelle from the hand of the hunter, And like a bird from the hand of the fowler. (Proverbs 6:1-5)