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Is Debt Wrong?

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kweli:
Hi All

I'm new here and am grateful to God for having been opened up to such truths found here at BT. May God continue blessing Ray, the website and fellow believers.

Since I have the urge to learn more and gain much understanding, there will be a lot of things I will ask in the forum. I hope it wont be mistaken as debating religious issue, but rather fellowshipping, which is very essential (at leat to me).

Enough about be now. I have a concern on an issue. Here are scriptures which had me questioning if debt (or being in debt) is right/wrong:

1 John 5:19
We know that we are children of God, and that the whole world is under the control of the evil one

Proverbs 22:7
The rich rule over the poor, and the borrower becomes the lender’s slave

1 Corinthians 7:23
You were bought with a price; do not become slaves of men

Galatians 5:1
Stand fast therefore in the liberty wherewith Christ hath made us free, and be not entangled again with the yoke of bondage

Based on Scripture, is Debt Wrong? Your responses on this matter will be greatly appreciated. I could have posted this question to Ray but the truth is, his responses intimidate me more than enlighten me. As I usually read this quote here, this too shall pass. Oh and please, if I missed a response to a question  similar to this, please be easy on me. I'm new here.

Seeking His Glory,
Kweli

Chris R:
Hi Kweli

Tough question, Paul was speaking of the best possible methods to become a "freeman" not actually to a law or command [read 1Cor 7:12]

No one likes to be in debt, but i don't know to many young folks who don't have a mortgage, and even if you don't, I'm sure you have to pay a yearly tax, school tax, and alike, i know folks who have long since paid off their homes, only to find their current taxes to be more of a monthly bill, than their house payment..

Having a measure of debt in itself isn't bad, i reckon it would depend on what type of debt? I have debt on my house, but..the house is worth much more than the debt, see what I'm saying.

Debt becomes bad when you owe much more than your assets.
As for the rest of your post, I'm sure others will give you some help.

Peace

Chris R

Deborah-Leigh:


Hello Kweli

I do not believe that debt is either right or wrong.

No debt is better than some debt and some debt is better than no wisdom. Sometimes to live in a house you have to have a mortgage as Chris R points out.  :)

Peace be to you

Arcturus :)

Matt:
I am sure there are those out there in Christiandom that will say it is OK for people to go in debt, as long as they get their 10%, firstfruit offering, and any other offering.

I believe debt is something that should be minimized and considered only after much prayer.  Spend enough time talking to God, and He will show you the difference between a need and a want!
 :)
Matt

kweli:
Hi all. Thank you for responding

Chris R, thanks for clarifying that Scripture for me.

Arcturus, I'm not too sure I undersstand what you mean by "some debt is better than no wisdom", but if/when it is granted to me to understand, I will.

Matthew, the truth about tithing in the new covenant has lifted a huge burden off my shoulders. Thank God for that. I believe it was Him who lifted it off since I did "cast my burden unto Him". Glory to Him.

Seeking His Glory,
Kweli

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