Debt and the Bible (part 2)
Picking up from the last article regarding the Bible saying no to taking away the debtor's livelihood, just to satisfy what was owed, aside from foreclosure-it could also be referring to a judgment case.
A judgment could be any of the following:
1) Wage garnishment - an automatic debiting from the debtor's salary.
2) Bank levy - an automatic debiting from the debtor's accounts.
3) Property lien - rights on the debtor's prorperty.
It's important to note, though, that for a collector or creditor to obtain a judgement against the consumer, they would have to file a case to the court first, and must win.
An example of property lien in biblical times: Do not take a pair of millstones—not even the upper one—as security for a debt, because that would be taking a man's livelihood as security. - Deuteronomy 24:6
An example of any of those judgments: "But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. - Matthew 18:30
It should instead be:
She went and told the man of God, and he said, "Go, sell the oil and pay your debts. You and your sons can live on what is left. - 2Kings 4:7
What else does the Bible say about debt?
Although the Bible does not really specifically prohibits all debt, it warns against it, and preaches that it's not what a Christian's habit to constantly be in debt. Also, it seems a lot like the Bible does not really condemn the debtor but is tough on lenders.
This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed. - Deuteronomy 15:2
If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother. -Deuteronomy 15:7
Those may not be applicable or practical with the times. There are already many business systems in place and they would reject any notions of full debt cancellation. It's really cut-throat in the financial world and so the best thing that consumers can do is find ways to papy that debt somehow.
The good news is, if the debts are mostly unsecure, with a high balance, say $10,000 and above, there is a program for it. It's called Debt Settlement, in which reduction of that $10,000 debt, is the primary goal. This debt relief type is only for consumers who doesn't want to end up filing bankruptcy.
A judgment could be any of the following:
1) Wage garnishment - an automatic debiting from the debtor's salary.
2) Bank levy - an automatic debiting from the debtor's accounts.
3) Property lien - rights on the debtor's prorperty.
It's important to note, though, that for a collector or creditor to obtain a judgement against the consumer, they would have to file a case to the court first, and must win.
An example of property lien in biblical times: Do not take a pair of millstones—not even the upper one—as security for a debt, because that would be taking a man's livelihood as security. - Deuteronomy 24:6
An example of any of those judgments: "But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. - Matthew 18:30
It should instead be:
She went and told the man of God, and he said, "Go, sell the oil and pay your debts. You and your sons can live on what is left. - 2Kings 4:7
What else does the Bible say about debt?
Although the Bible does not really specifically prohibits all debt, it warns against it, and preaches that it's not what a Christian's habit to constantly be in debt. Also, it seems a lot like the Bible does not really condemn the debtor but is tough on lenders.
This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed. - Deuteronomy 15:2
If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother. -Deuteronomy 15:7
Those may not be applicable or practical with the times. There are already many business systems in place and they would reject any notions of full debt cancellation. It's really cut-throat in the financial world and so the best thing that consumers can do is find ways to papy that debt somehow.
The good news is, if the debts are mostly unsecure, with a high balance, say $10,000 and above, there is a program for it. It's called Debt Settlement, in which reduction of that $10,000 debt, is the primary goal. This debt relief type is only for consumers who doesn't want to end up filing bankruptcy.
Source...