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Bible and Debt including settlement, CA, repayment, SOL

Date: Tue, 12/12/2006 - 01:58

Submitted by dave
on Tue, 12/12/2006 - 01:58

Posts: 44 Credits: [Donate]

Total Replies: 7


I saw at various places that people are referring Bible to explain the origin of Credit system.

[quote=Ashley2006]
Not to get religious but the 7 year thing started because of the reference in the Bible, someone with more knowledge of the Bible fill this in please. .... read more[/quote]

Yes Ashley, SOL is quoted in Bible. Deuteronomy was the rule book given to Israelites. Deuteronomy chapter 15 versus 1 to 3 covers about SOL.

"At the end of every seven years you must cancel debts. 2 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. 3 You may require payment from a foreigner, but you must cancel any debt your brother owes you."

Also there are other chapters discussing about debts.

[list=a]
  • Secured Debt - Deuteronomy 24:6
    It says about the collateral attachments.
    "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."

  • debt problems - 1 Samuel 22:2
    Debt problems were always there - "All those who were in distress or in debt".

  • Creditor/Collection agency Harassment – 2 king 4:1 , Job 24 :9

    The wife of a man from the company of the prophets cried out to Elisha, "Your servant my husband is dead, and you know that he revered the LORD. But now his creditor is coming to take my two boys as his slaves."

    "the infant of the poor is seized for a debt."

  • Debt repayment – 2 king 4: 1- 7

  • Solomon's (wisest man on earth) wisdom for debtors - Proverbs 22;26
    "Do not be a man who strikes hands in pledge or puts up security for debts"

  • Some good news for creditors - Debt Repayment is encouraged
    "Let no debt remain outstanding"

  • debt settlement - Luke 7:42
    To end the document here is the debt settlement
    "Neither of them had the money to pay him back, so he canceled the debts of both."

  • Debt Frauds - Luke 16 – 3 to 8
    [color=#163861]So he called in each one of his master's debtors. He asked the first, 'How much do you owe my master?' 6 'Eight hundred gallons[a] of olive oil,' he replied. "The manager told him, 'Take your bill, sit down quickly, and make it four hundred." [/color]


    • This is great Dave, I used your post in my blog entry today and lised you as the author and the link to this thread. If you want me to give you the credit using your real name or if you don't want me to use your post send me a PM and I will correct the blog entry or delete it. I hope you don't mind. Sometimes I have an idea I just can't back it up with the right words especially when it comes to quoting the Bible


    lrhall41

    Submitted by PDLFREE on Tue, 12/12/2006 - 06:21

    ( Posts: 1245 | Credits: )