These are some Scriptures which have convinced me that I should not have any debt (or a mortgage, which is also a debt). If we diligently heed God's commandments, we will be blessed:
And it shall come to pass,
if thou shalt hearken diligently unto the voice of the LORD thy God,
to observe and to do all his commandments which I command thee this day,
that the LORD thy God will set thee on high above all nations of the earth:
Deuteronomy 28:1
Being convicted by the Holy Spirit through the Scriptures, I purposed in my heart to get completely out of debt. I sold as many things as I could sell: my motorcycle, TV, couch, etc., and moved into the cheapest apartment I could find (which turned out to be 8ft by 12ft, just 2 feet longer than a prison cell). It took me about a year and a half to pay off about $45k worth of debt.
I am debt-free now, and it is as if a burden has been lifted off of me. My finances cause me no stress whatsoever (even though I make relatively little money).
Here are some of the verses that convinced me that I should not have any debt:
Render therefore to all their dues:
tribute to whom tribute is due;
custom to whom custom; fear to whom fear; honour to whom honour.
Owe no man any thing, but to love one another:
for he that loveth another hath fulfilled the law.
Romans 13:7-8
From the following verse, it appears that the lender becomes the borrowers master. This is also clearly evident in the Old Testament; when someone owed someone else money, they became their slave for seven years.
The rich ruleth over the poor,
and the borrower is servant to the lender.
Proverbs 22:7
And we are instructed not to become servants of men:
Ye are bought with a price;
be not ye the servants of men.
I Corinthians 7:23
And from the following verse, it appears that we cannot serve two masters. In my case, when I tried to serve God while having debt, I began to despise the lender more and more. Moreover, since I have become debt-free, God has opened up many doors for me to serve Him.
No man can serve two masters:
for either he will hate the one, and love the other;
or else he will hold to the one, and despise the other.
Ye cannot serve God and mammon.
Matthew 6:24
And the result of heeding His commandments are given in Deuteronomy 28:12:
The LORD shall open unto thee his good treasure,
the heaven to give the rain unto thy land in his season,
and to bless all the work of thine hand:
and thou shalt lend unto many nations,
and thou shalt not borrow.
Deuteronomy 28:12
Related Articles
 | 
