In times of financial distress, the Bible offers guidance and wisdom. According to Deuteronomy 15:1-2, God instructed the Israelites to cancel debts every seven years, providing relief to those overwhelmed by debt. The Psalms and Proverbs also address the issue, with Psalms 37:21 noting that the wicked borrow and do not pay back, while Proverbs 22:7 warns that the borrower becomes a slave to the lender. Ecclesiastes 5:5 cautions against making rash vows, including those related to financial obligations, emphasizing the importance of responsible stewardship and integrity in financial matters.
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At the end of every seven years you must cancel debts. This is the manner of remission: Every creditor shall cancel what he has loaned to his neighbor. He is not to collect anything from his neighbor or brother, because the LORD’s time of release has been proclaimed.
At the end of every seven years you must cancel debts. This is the manner of remission: Every creditor shall cancel what he has loaned to his neighbor. He is not to collect anything from his neighbor or brother, because the LORD’s time of release has been proclaimed. You may collect something from a foreigner, but you must forgive whatever your brother owes you. There will be no poor among you, however, because the LORD will surely bless you in the land that the LORD your God is giving you to possess as an inheritance, if only you obey the LORD your God and are careful to follow all these commandments I am giving you today. When the LORD your God blesses you as He has promised, you will lend to many nations but borrow from none; you will rule over many nations but be ruled by none. If there is a poor man among your brothers within any of the gates in the land that the LORD your God is giving you, then you are not to harden your heart or shut your hand from your poor brother. Instead, you are to open your hand to him and freely loan him whatever he needs. Be careful not to harbor this wicked thought in your heart: “The seventh year, the year of release, is near,” so that you look upon your poor brother begrudgingly and give him nothing. He will cry out to the LORD against you, and you will be guilty of sin. Give generously to him, and do not let your heart be grieved when you do so. And because of this the LORD your God will bless you in all your work and in everything to which you put your hand. For there will never cease to be poor in the land; that is why I am commanding you to open wide your hand to your brother and to the poor and needy in your land. If a fellow Hebrew, a man or a woman, is sold to you and serves you six years, then in the seventh year you must set him free. And when you release him, do not send him away empty-handed. You are to furnish him liberally from your flock, your threshing floor, and your winepress. You shall give to him as the LORD your God has blessed you. Remember that you were slaves in the land of Egypt, and the LORD your God redeemed you; that is why I am giving you this command today. But if your servant says to you, ‘I do not want to leave you,’ because he loves you and your household and is well off with you, then take an awl and pierce it through his ear into the door, and he will become your servant for life. And treat your maidservant the same way. Do not regard it as a hardship to set your servant free, because his six years of service were worth twice the wages of a hired hand. And the LORD your God will bless you in all you do. You must set apart to the LORD your God every firstborn male produced by your herds and flocks. You are not to put the firstborn of your oxen to work, nor are you to shear the firstborn of your flock. Each year you and your household are to eat it before the LORD your God in the place the LORD will choose. But if an animal has a defect, is lame or blind, or has any serious flaw, you must not sacrifice it to the LORD your God. Eat it within your gates; both the ceremonially unclean and clean may eat it as they would a gazelle or a deer. But you must not eat the blood; pour it on the ground like water.
If you lend money to one of My people among you who is poor, you must not act as a creditor to him; you are not to charge him interest. 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.
Now if your countryman becomes destitute and cannot support himself among you, then you are to help him as you would a foreigner or stranger, so that he can continue to live among you. Do not take any interest or profit from him, but fear your God, that your countryman may live among you. You must not lend him your silver at interest or sell him your food for profit.
He engages in usury and takes excess interest. Will this son live? He will not! Since he has committed all these abominations, he will surely die; his blood will be on his own head.
Now if your countryman becomes destitute and cannot support himself among you, then you are to help him as you would a foreigner or stranger, so that he can continue to live among you.
Do not charge your brother interest on money, food, or any other type of loan. You may charge a foreigner interest, but not your brother, so that the LORD your God may bless you in everything to which you put your hand in the land that you are entering to possess.
If there is a poor man among your brothers within any of the gates in the land that the LORD your God is giving you, then you are not to harden your heart or shut your hand from your poor brother. Instead, you are to open your hand to him and freely loan him whatever he needs. Be careful not to harbor this wicked thought in your heart: “The seventh year, the year of release, is near,” so that you look upon your poor brother begrudgingly and give him nothing. He will cry out to the LORD against you, and you will be guilty of sin. Give generously to him, and do not let your heart be grieved when you do so. And because of this the LORD your God will bless you in all your work and in everything to which you put your hand.
Be indebted to no one, except to one another in love. For he who loves his neighbor has fulfilled the law.
And if you lend to those from whom you expect repayment, what credit is that to you? Even sinners lend to sinners, expecting to be repaid in full. But love your enemies, do good to them, and lend to them, expecting nothing in return. Then your reward will be great, and you will be sons of the Most High; for He is kind to the ungrateful and wicked.
Please restore to them immediately their fields, vineyards, olive groves, and houses, along with the percentage of the money, grain, new wine, and oil that you have been assessing them.”
If you lend money to one of My people among you who is poor, you must not act as a creditor to him; you are not to charge him interest.
Trust in the LORD with all your heart, and lean not on your own understanding; in all your ways acknowledge Him, and He will make your paths straight.
If a countryman among you becomes destitute and sells himself to you, then you must not force him into slave labor.
If we confess our sins, He is faithful and just to forgive us our sins and to cleanse us from all unrighteousness.