Are Debtors Still Imprisoned?
Episode 248
HISTORICAL PERSPECTIVE ON DEBT:
- Societies historically took debt seriously, often requiring significant collateral, including family members, as seen in 2 Kings 4, "The Widow's Oil."
- Debtor's prisons were a reality until the 19th century in Britain and the U.S., with the intention of incentivizing debt repayment through the threat of imprisonment.
- Debtors' prisons put pressure on the debtor's family and friends to pay off the debt.
- Notable individuals such as Robert Morris, Charles Goodyear, Daniel Defoe, and Charles Dickens' father experienced debtor's prison.
MODERN CONSEQUENCES OF DEBT:
- Although debtors' prisons were abolished (1833 in America and 1869 in Britain), not paying debts still results in serious civil consequences.
- Proverbs 22:7 highlights the perpetual truth of the borrower's subjugation to the lender.
- Credit reports and scores now act as modern financial shackles, affecting loan accessibility, employment, and other areas of life.
BIBLICAL PERSPECTIVE ON DEBT AND FREEDOM:
- The Bible doesn't label debt as a sin but frequently warns against it and encourages freedom from debt to better serve God, as emphasized in Galatians 5:1, which speaks of freedom from slavery.
On today’s program, Rob also answers listener questions:
- With only $2,000 in cash and needing a car as my wife and I share one for her to take the kids to school, should I buy a car now and should it be new or used?
- Owning a home and my girlfriend owning one too, if we marry, is it wise to use my dividend income to pay off her property since she will move in with me?
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.
Published on 2 years, 1 month ago