What does the Bible say about being in debt?

God’s Word is clear. – Romans 13:8. Sin is falling short of God’s revealed standard. – James 4:17. Our culture encourages people to go into debt and buy things they can’t afford. The Bible warns that the borrower is the slave of the lender (Prov 22:7). Believers are to be – 1 Corinthians 7:23. We are stewards of His money, and we dare not use it for our own purposes without His permission. Especially in these latter days, Christians should strive to obey this command. Of course, this does not mean that He will not allow us to raise a bond, for example, to purchase a home, but we must be sure we do so with His permission and in His will.