Pro 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
I don't think it is a sin to loan money, nor is it necessarily a sin to borrow, but there are better ways. (For example, doing without, saving for your needs, finding ways to increase your income, etc.) In our society, it is difficult to buy a home or a decent car without borrowing. But we must realize the negative aspects of lending and borrowing.
I am amazed and appalled at the Jeckyl/Hyde personalities of most lenders. When they are wooing the fly into the spider web, they are plenty accommodating and nicey-nice. But when the borrower is a bit late on a payment, watch them turn into rude, unkind, uncaring authoritarians.
On the other side of the borrowed coin, borrowers must realize that his or her current status, as far as income, employment and outgo is not guaranteed. Things change, accidents happen, the worm turns. How will your obligations be met when the unexpected knocks at your door?
We have personally been very blessed. Through several decades of life's inevitability, we have never knowingly missed or been late on a payment to our lending overlords. We live by the principle that we are to owe no man anything except the gospel. When we are late one day on a payment, we owe that person, and that's not something we are comfortable with.
Also, our testimony, and, in a sense, God's testimony is on the line when it comes to our personal financial dealings. We believe God's promises concerning the tithe (Malachi 3:8-10, Prov 3:9-10, Luke 6:38). We feel we are extremely blessed financially because we honor God by putting Him first in our finances and believe that He honors His promises to us. By neglecting our obligations, we show those we owe that our God does not supply all our needs according His riches in glory by Christ Jesus. Phil 4:19
We no longer have debtor's prison, but our culture has its own version of the same. Once you get turned upside-down financially, you are very much in a debtor's prison. Getting ahead is nigh unto impossible. Digging out of debt is a constant heartache. The burden of being behind the proverbial 8 ball is akin to slavery - financially and emotionally. Indeed, you will feel like you owe your soul to the company store!
Borrow wisely. Yield not to the temptation to borrow on depreciating items. Cars may be the exception because of the necessary use of a vehicle. Never borrow for things that won't last; clothing, vacations, meals, services, etc. Only use credit cards IF you can pay them off each month. Don’t get on the carousel of credit card debt!!!
If you are already in trouble, if you are servant to a lender, get some wise financial advice and devise a plan to break free from debt. Remember how to eat an elephant? One bite at a time, and that is key to digging out of debt.
Know this, you need God's help. Start honoring Him, realizing you cannot out give the Lord!
As the great E.V. Hill said, "When your outgo exceeds your income, then your upkeep will be your downfall."
May God bless you as you make a firm decision to get things turned around. When that day comes that you are finally free, you will feel an exhilaration that is unmatched by anything in this world!
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