In biblical times, the relationship between creditors and debtors was a significant aspect of economic and social life. The Bible provides various insights into the practices and ethical considerations surrounding lending and borrowing, including the demand for security or collateral.

Biblical Context and Practices

In ancient Israel, lending was often a necessity due to the agrarian society's dependence on seasonal crops and the potential for poor harvests. Creditors, those who lent money or goods, sometimes required security or collateral to ensure repayment. This practice is addressed in several biblical passages, highlighting both the legal and moral dimensions of such transactions.

Security and Collateral

The demand for security is explicitly mentioned in the Mosaic Law. In Exodus 22:26-27 , it is stated: "If you take your neighbor’s cloak as collateral, return it to him by sunset, because his cloak is the only covering he has for his body. What else will he sleep in? And if he cries out to Me, I will hear, for I am compassionate." This passage underscores the importance of compassion and fairness, even when security is required. The cloak, a basic necessity, was often used as collateral, but the law required its return by nightfall to ensure the debtor's well-being.

Deuteronomy 24:10-13 further elaborates on the ethical treatment of debtors: "When you lend anything to your neighbor, do not enter his house to collect security. You are to stand outside while the man to whom you are lending brings the security out to you. If he is a poor man, do 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 passage emphasizes respect for personal dignity and the avoidance of undue hardship on the debtor.

Moral and Ethical Considerations

The Bible consistently advocates for mercy and justice in financial dealings. Proverbs 22:26-27 warns against rashly entering into agreements that could lead to financial ruin: "Do not be one who shakes hands in pledge or puts up security for debts. If you lack the means to pay, your very bed will be snatched from under you." This proverb advises caution and prudence in financial commitments, highlighting the potential consequences of overextending oneself.

The New Testament also reflects on the spirit of generosity and forgiveness in financial matters. In the Lord's Prayer, Jesus teaches His followers to pray, "And forgive us our debts, as we also have forgiven our debtors" (Matthew 6:12). This reflects a broader principle of grace and mercy that should permeate all aspects of life, including financial transactions.

Conclusion

The biblical perspective on creditors demanding security from others is one that balances the practical need for collateral with a strong emphasis on compassion, justice, and respect for human dignity. The scriptures encourage creditors to act with integrity and mercy, ensuring that their actions do not lead to the oppression or undue suffering of their fellow man.Proverbs 6:1
My son, if you be surety for your friend, if you have stricken your hand with a stranger,
Torrey's Topical Textbook

Proverbs 22:26
Be not you one of them that strike hands, or of them that are sureties for debts.
Torrey's Topical Textbook

Whether the Judicial Precepts were Suitably Framed as to the ...
... ready to lend: which readiness ceases if the creditors do not ... Dt.24:10): "When thou
shalt demand of thy ... were to be sold indiscriminately, they might happen to ...
/.../aquinas/summa theologica/whether the judicial precepts were 3.htm

Of the Navigation of King Agrippa to Rome, to Tiberius Caesar; and ...
... he had not wherewithal to pay his creditors, who were ... of Jamhis, sent a band of soldiers
to demand of him ... much more pressing that the matter might be examined ...
/.../josephus/the antiquities of the jews/chapter 6 of the navigation.htm

On the Words of the Gospel, Matt. xix. 21,"Go, Sell that Thou Hast ...
... sought too, but only to find where he might hide himself ... The debtor presses to pay,
[2823] and the creditors make excuses ... What great demand is this, my Brethren ...
/.../sermons on selected lessons of the new testament/sermon xxxvi on the words.htm

Prayers Answered
... a note, saying he would meet his demand, but if ... prayer, relieved his necessities,
eased his creditors, gave him ... hoping that a milder climate might be favorable ...
//christianbookshelf.org/various/the wonders of prayer/prayers answered.htm

The Life and Death of Mr. Badman,
... Captain Consumption; he rots away and dies in sinful security,. ... a sullen, pouching
manner; a body might read, as ... face; and when his father did demand his answer ...
/.../bunyan/the works of john bunyan volumes 1-3/the life and death of.htm

Footnotes
... to the parish of Carluke, and security was required ... who were called Malignants, his
darlings, might be brought ... of his numerous and just creditors, the deceased ...
/...//christianbookshelf.org/binning/the works of the rev hugh binning/footnotes.htm

Period I: the Imperial State Church of the Undivided Empire, or ...
... them, the poor of the various churches might be relieved ... was at liberty at that time
to demand anything ... up and, terror going on before, creditors were surrounded ...
/.../ayer/a source book for ancient church history/period i the imperial state.htm

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