Topical Encyclopedia In biblical times, the concept of debt and the treatment of debtors were significant aspects of social and economic life. The Mosaic Law provided specific guidelines to ensure justice and compassion in financial dealings, reflecting God's concern for fairness and mercy.Old Testament Laws The Old Testament contains several laws concerning debtors, primarily found in the Pentateuch. These laws were designed to protect both creditors and debtors, ensuring that financial transactions were conducted with integrity and compassion. 1. Sabbatical Year Release: One of the most notable laws is the release of debts every seventh year, known as the Sabbatical Year. Deuteronomy 15:1-2 states, "At the end of every seven years you must cancel debts. 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." This law was intended to prevent the accumulation of insurmountable debt and to provide a fresh start for debtors. 2. Prohibition of Interest: The Israelites were forbidden from charging interest on loans to their fellow countrymen. Exodus 22:25 instructs, "If you lend money to one of My people among you who is poor, you must not be like a moneylender to him; you must not charge him interest." This law emphasized the importance of helping those in need without exploiting their vulnerable situation. 3. Pledges and Collateral: The law also regulated the taking of pledges or collateral for loans. Deuteronomy 24:10-13 provides guidance: "When you lend anything to your neighbor, do not enter his house to collect security. You are to stand outside while the man you are borrowing from brings the security out to you. If he is a poor man, you must not go to sleep with the security in your possession; be sure to return it to him by sunset so that he may sleep in his own cloak and bless you. And it will be credited to you as righteousness before the LORD your God." This law protected the dignity and basic needs of the debtor. 4. Year of Jubilee: Every fiftieth year, the Year of Jubilee, was a time of economic reset, where land was returned to its original owners and debts were forgiven. Leviticus 25:10 declares, "And you shall consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you, when each of you is to return to his property and to his clan." This ensured that no family would be permanently impoverished or lose their ancestral inheritance. New Testament Perspective In the New Testament, while the specific Mosaic laws concerning debt are not reiterated, the principles of mercy, forgiveness, and love are emphasized. Jesus taught about the moral and spiritual dimensions of debt and forgiveness in parables and teachings. 1. Parable of the Unforgiving Servant: In Matthew 18:23-35, Jesus tells the parable of a servant who, after being forgiven a massive debt by his master, refuses to forgive a fellow servant a much smaller debt. This parable underscores the importance of forgiving others as God forgives us, highlighting the spiritual aspect of debt and forgiveness. 2. Love and Generosity: The New Testament encourages believers to act with love and generosity, reflecting God's grace. Romans 13:8 advises, "Be indebted to no one, except to one another in love, for he who loves his neighbor has fulfilled the law." This teaching emphasizes that love should be the guiding principle in all relationships, including financial ones. The biblical laws concerning debtors reflect a balance between justice and mercy, ensuring that financial transactions are conducted with fairness and compassion. These principles continue to inform Christian ethics and the treatment of debtors today. Nave's Topical Index Exodus 21:2-6If you buy an Hebrew servant, six years he shall serve: and in the seventh he shall go out free for nothing. Nave's Topical Index Exodus 22:10-15 Leviticus 25:14-17,25-41,47-55 Nehemiah 10:31 Matthew 5:25,26,40 Matthew 18:25 Library Fourth Sunday after Epiphany Ephesians vi. 8-May The Polity Settled by Moses; and How He Disappeared from among ... Thanksgiving to God for the Pardon Granted to the Offenders ... Jeremiah and Deuteronomy. (Chs. vii, viii. 8, xi. ) Commerce Whether the Judicial Precepts were Suitably Framed as to the ... Dedicatory 2 Cor. vii. 13 Letter of Martin Luther to Pope Leo X. Resources What does the Bible say about going into debt? | GotQuestions.orgShould a Christian mortgage a home? | GotQuestions.org What does the Bible say about coping/dealing with a terminal illness? | GotQuestions.org Debtor: Dictionary and Thesaurus | Clyx.com Bible Concordance • Bible Dictionary • Bible Encyclopedia • Topical Bible • Bible Thesuarus |
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