What does the Bible say about going into debt?
GotQuestions Bible questions answered https://www.gotquestions.org/ All rights reserved-Published with permission Paul’s charge to us in Romans 13:8 to owe nothing but love is a powerful reminder of God’s distaste for all forms of debt that are not being paid in a timely manner (see also Psalm 37:21 ). At the same time, the Bible does not explicitly command against all forms of debt. The Bible warns against debt, and extols the virtue of not going into debt, but does not forbid debt. The Bible has harsh words of condemnation for lenders who abuse those who are bound to them in debt, but it does not condemn the debtor. Some people question the charging of any interest on loans, but several times in the Bible we see that a fair interest rate is expected to be received on borrowed money ( Proverbs 28:8 ; Matthew 25:27 ). In ancient Israel the Law did prohibit charging interest on one category of loans—those made to the poor ( Leviticus 25:35-38 ). This law had many ...