- The Bible isn't against all interest. A fair interest rate is expected to be received on borrowed money. Proverbs 28:8 says, "He who increases his wealth by exorbitant interest amasses it for another who will be kind to the poor." Matthew 25:27 asks, "W
hy didn’t you deposit my money in the bank? At least I could have gotten some interest on it."
- The Bible is against exorbitant interest. Deuteronomy 23:20 says, "You may charge a foreigner interest, but not a brother Israelite." Leviticus 25:35-38 adds, "If one of your fellow Israelites falls into poverty and cannot support himself, do not charge interest on money you lend him or make a profit on food you sell him. I am the Lord your God, who brought you out of the land of Egypt to give you the land of Canaan and to be your God."
- And bad debt. Romans 13:8,11 says "Owe nothing to anyone—except for your obligation to love one another. This is all the more urgent, for you know how late it is; time is running out. Wake up, for our salvation is nearer now than when we first believed."
Thursday, October 02, 2008
In light of the proposed $700 billion bailout of Wallstreet this week, I thought I'd share with you a few things the Bible says about debt and interest. Some of which may surprise you.