Forgive Us Our Debts as We
Forgive Our Debtors
Bankruptcy and the Bible
Dalton Camp proclaimed several years ago that, "having lost
its value, money may no longer be the root of all evil;
credit having taken its place." This statement demonstrates
the paradox of modern day religion and debt - should our
reaction be one of condemnation or one of compassion. Since
many recent respected studies have shown that the average
American family is only three weeks away from personal
bankruptcy, and new legislation that will deny bankruptcy
relief to hundreds of thousands of American families is now
the law, it is time to revisit what the Bible teaches us
about debt.
The Bible makes it clear that people are generally expected
to pay their debts. Leviticus 25:39.
No one will - or should - advance any argument against this
general proposition. However, this moral and legal
obligation to pay just debts must be balanced by such
periodic intervals. The Biblical basis for such compassion
and the call to cancel debts at periodic intervals. The
Biblical basis for such considerations is based on the
Sabbatical and the Jubilee years. The secular basis arises
out of the Consitutional requirement that Congress enact
uniform laws allowing businesses and consumers to cancel
and to restructure debt obligations. This Biblical support
or the legal right to cancel debt is enforced by the even
stronger Biblical doctrine that prohibited interest of any
amount rather than just usury or excessive interest.
Within the areas of economic justice and stability, the Old
Testament is replete with examples of compassionate
treatment of the poor, and with preservation of the family
unit. These goals were superior to the material concerns of
repayment of debt. For instance, Deuteronomy 15:7-10 is
particularly forceful. It provides as follows: "If there is
a poor man among your brothers . . . do not be hardhearted
or tightfisted toward your poor brother. Rather be
open-handed and freely lend him whatever he needs. Be
careful not to harbor this wicked thought: "The seventh
year, the year for canceling debts, is near, so that you
show ill will toward your needy brother and give him
nothing. He may then appeal to the LORD against you, and
you will be found guilty of sin. Give generously to him and
do so without a grudging heart; then because of this the
LORD your GOD will bless you in all your work and in
everything you put your hands to."