To Borrow or Not To Borrow, that is the (steward’s) Question!
Are you content with the conclusion you came to last week about borrowing? I can’t find anything in the Bible that says we should not borrow. None of the authors, experts, commentaries, etc. I have studied can either. I do sense, however, that all of them want really bad to say it is not Biblical to borrow but they just can’t find the scripture to document it. So, is it Ok or not to borrow? Actually I’m not sure it makes any difference what we think because the Bible has more to say on the subject. Take a look at the following:
- Ps 37:21 _________________________________________
- Prov 3:27-28 ______________________________________
- Eccl 5:4-5 ________________________________________
- Matt 18:21-35 _____________________________________
Clearly, if we borrow, we better ___________ it ___________.
There’s another really important issue associated with borrowing. It is identified in the following passages:
Prov 11:15 ____________________________________________
Prov 17:18 ____________________________________________
Prov 6:1-5 _____________________________________________
Prov 22:26-27 __________________________________________
What on earth is this “surety” business? I looked it up in my Webster’s and he says that to be “surety” is to be legally liable for the debt, default, or failure of another. A guarantee. That which confirms or makes sure.
When my son graduated from college he wanted to continue in the business he had started while he was in school. While in school, the business was large enough to provide ample spending money but not enough to support a wife and family. He had much larger plans/dreams that required lots of money. I told him he needed to put together a business plan with an estimate of how much money he needed and make the rounds of the banks in Champaign (he was in school at the University of Illinois). I told him that the bankers would all love the detailed plan but that the first question they would ask is “Who’s going to co-sign the note?” Just so there wouldn’t be any misunderstanding, before he left, I told him it would not be me. Well, it happened just like I said it would except for the last bank. They gave him a huge amount of money on his signature and his character. But why didn’t I want to co-sign? What’s wrong with co-signing? There are three things wrong with co-signing: 1) if he defaulted on the loan, I would have been required to pay it off and there is no way I could have come up with the amount of money he wanted, 2) the FTC reports that over half of those who co-sign, end up paying off the loan, and 3) the really big one, the Bible says DON’T DO THAT!
Some authors/experts on this subject want to extend the admonition against surety to include accepting an obligation to repay a loan (not just for someone else but) for ourselves as well. In other words, we should not borrow unless we have an absolutely sure way to pay it back, unless we can guarantee repayment.
They point to James 4:13-17 in support of this notion. 13 Come now, you who say, “Today or tomorrow, we shall go to such and such a city, and spend a year there and engage in business and make a profit.” 14 Yet you do not know what your life will be like tomorrow. You are just a vapor that appears for a little while and then vanishes away. 15 Instead, you ought to say, “If the Lord wills, we shall live and also do this or that.” 16 But as it is, you boast in your arrogance; all such boasting is evil. 17 Therefore, to one who knows the right thing to do, and does not do it, to him it is sin. NAS
What are they so concerned about? What is the problem they see? _____________________________________________________
They would tell us there is only one way this situation can be prevented. What do you suppose that is? _________________________________________
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Ps 37:21 The wicked borrows and does not pay back, but the righteous is gracious and gives. NASB
Prov 3:27-28 Do not withhold good from those to whom it is due, When it is in your power to do it. 28 Do not say to your neighbor, “Go, and come back, And tomorrow I will give it,” When you have it with you. NASB
Eccl 5:4-5 When you make a vow to God, do not be late in paying it, for He takes no delight in fools. Pay what you vow! 5 It is better that you should not vow than that you should vow and not pay. NASB
Matt 18:21-35 Then Peter came and said to Him, “Lord, how often shall my brother sin against me and I forgive him? Up to seven times?” 22 Jesus said to him, “I do not say to you, up to seven times, but up to seventy times seven. 23 “For this reason the kingdom of heaven may be compared to a certain king who wished to settle accounts with his slaves. 24 “And when he had begun to settle them, there was brought to him one who owed him ten thousand talents. 25 “But since he did not have the means to repay, his lord commanded him to be sold, along with his wife and children and all that he had, and repayment to be made. 26 “The slave therefore falling down, prostrated himself before him, saying, ‘Have patience with me, and I will repay you everything.’ 27 “And the lord of that slave felt compassion and released him and forgave him the debt. 28 “But that slave went out and found one of his fellow slaves who owed him a hundred denarii; and he seized him and began to choke him, saying, ‘Pay back what you owe.’ 29 “So his fellow slave fell down and began to entreat him, saying, ‘Have patience with me and I will repay you.’ 30 “He was unwilling however, but went and threw him in prison until he should pay back what was owed. 31 “So when his fellow slaves saw what had happened, they were deeply grieved and came and reported to their lord all that had happened. 32 “Then summoning him, his lord said to him, ‘You wicked slave, I forgave you all that debt because you entreated me. 33 ‘Should you not also have had mercy on your fellow slave, even as I had mercy on you?’ 34 “And his lord, moved with anger, handed him over to the torturers until he should repay all that was owed him. 35 “So shall My heavenly Father also do to you, if each of you does not forgive his brother from your heart.” NASB
Prov 11:15 He who is surety for a stranger will surely suffer for it, But he who hates going surety is safe. NASB
Prov 17:18 A man lacking in sense pledges, And becomes surety in the presence of his neighbor. NASB
Prov 6:1-5 My son, if you have become surety for your neighbor, Have given a pledge for a stranger, 2 If you have been snared with the words of your mouth, Have been caught with the words of your mouth, 3 Do this then, my son, and deliver yourself; Since you have come into the hand of your neighbor, Go, humble yourself, and importune your neighbor. 4 Do not give sleep to your eyes, Nor slumber to your eyelids; 5 Deliver yourself like a gazelle from the hunter’s hand, And like a bird from the hand of the fowler. NASB
Prov 22:26-27 Do not be among those who give pledges, Among those who become sureties for debts. 27 If you have nothing with which to pay, Why should he take your bed from under you? NASB