Quiet Time Notes

Dealing With Debt (Part I)

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. (Psalms 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.

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