Is it a moral or legal obligation to pay a debt to a bank?

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Tish

Philippians 1:6
Nov 30, 2023
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I feel if we borrow we should repay. When you sign the papers you put your integrity on the line. I know there are sometimes circumstances out of our control but I’d think it would be better to pay back what we can and not blow it off. Keep your integrity and you’ll keep your good testimony.
 

JohnB

Well-known member
Jul 31, 2022
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Similarly, in Deuteronomy 15, God says that every seven years, creditors should “remit the claim that is held against a neighbor” because “the Lord’s remission has been proclaimed.” In the New Testament, Jesus instructs his followers to pray “forgive us our debts, as we also have forgiven our debtors” (Matthew 6:12, Luke 11:4). Scripture is clear when it comes to debt abolition and the freeing of the debtor: God demands a society that delivers justice and freedom to all and rejects a society that physically and rhetorically shackles its people.
 
Sep 28, 2023
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The banks and credit card companies break god's law by charging high interest rates.

And... this give you the right to steal from them?
To make promises to repay and decide later to NOT honor your word???



In that case since many CANNOT repay the debt, it's not a sin. They cannot pay what they don't have. maybe these credit card companies shouldn't be handing out credit cards like candy.

Honorable people don't make promises they cannot keep!

If you are going to play... you gotta pay!
 
Sep 28, 2023
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Similarly, in Deuteronomy 15, God says that every seven years, creditors should “remit the claim that is held against a neighbor” because “the Lord’s remission has been proclaimed.” In the New Testament, Jesus instructs his followers to pray “forgive us our debts, as we also have forgiven our debtors” (Matthew 6:12, Luke 11:4). Scripture is clear when it comes to debt abolition and the freeing of the debtor: God demands a society that delivers justice and freedom to all and rejects a society that physically and rhetorically shackles its people.

And of course if someone owes you money... you demand payment!
 

JohnB

Well-known member
Jul 31, 2022
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And of course if someone owes you money... you demand payment!
If they have the ability' to pay, but just refuse. I would demand it. Had that happen a couple of times with my siblings.
 

JohnB

Well-known member
Jul 31, 2022
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And... this give you the right to steal from them?
To make promises to repay and decide later to NOT honor your word???






Honorable people don't make promises they cannot keep!

If you are going to play... you gotta pay!
Not when life circumstances change. There are times when the person has no income to make the payments.
 
Sep 28, 2023
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Not when life circumstances change. There are times when the person has no income to make the payments.
Yeah, it's too bad some folks don't know how to believe the Lord's promises to provide for all their needs.

There's something wrong when people claiming to be Christians go broke.. it normally points to being lazy and otherwise just dropping out of life to become a bum.

Since you defrauded the banks... you got money later and decided to not honor your word then either.

No matter how you slice it... you made a promise and refused to keep it even later when things got better financially.
 

Fundaamental

Well-known member
Mar 17, 2023
3,289
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Around 2008 when the market crash and people were losing their homes, many people filed for bankruptcy. I remember some banks posting that debtors had a moral obligation to pay their debt, no matter what the law said. My answer to them were, banks are not moral. The law gives exemptions to protect people's income. I believe Jesus would say....."What does the law say?" You follow the laws. The banks have to follow the same laws we do. There is no moral obligation to the banks. How say you?
Loans can be a good thing or a bad thing,

For instance transportation, and the all new electric cars that no one can afford to buy,

The only visible way for some is to take the car out on a loan for 4 years only having payed half of the cars value off, providing the car does standard milage, you can trade that car in and get a brand new one for another 4 years.

But what if you can't afford to pay that loan of anymore ?

Would it be moral to keep on paying and go without food ?

There is nothing moral about a lot of loans. There solely based on business.

And loans do provide desperate help for those in need.

I can't stand those people who have this moral view point that no one should ever take out loans.

Well they should try living in the real world, where by most people have no other option.

I was one of the lucky ones, I got the ball rolling before the debt collectors came, and what is moral about those people.

I basically got 65000 UK pound of unsecured debt from over 25 different lenders to be payed of @ 119.00 a week for the next 5 years. Instead of the original 1000 a week for the next 5 years

The best part is I got a cash Loan for the cars and not a higher purchase loan

Basically it was a loan to do what you want with the money, so I bought a car with it. That way if it goes bad for you they can't take your car of you 🙂.

So the good news is I have a house full of goodies and loads of boss power tools.

I bought Two cars, as I bought two of the same kind with the Loan, one for me and one for my partner, its saves you a fortune on mechanical bills, because you can fault find easy when you have two identical cars.

And instead of paying all theese 65000 loans of what was close to 1000 pound a month, I'm now paying them of at 119.00 a month.

And I still have all my goodies.

By time my 5 year agreement is up I will have 70 percent of the loans written off.

I think you could call that a moral victory 🙂 because to me there would have been no morality shown to me if I had not got an IVA in place

When a person can not pay back a loan,

A lone company will pester people to death. But if you manage to get a legally binding iva in place they can't touch you 👍.
 

JohnB

Well-known member
Jul 31, 2022
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Yeah, it's too bad some folks don't know how to believe the Lord's promises to provide for all their needs.

There's something wrong when people claiming to be Christians go broke.. it normally points to being lazy and otherwise just dropping out of life to become a bum.

Since you defrauded the banks... you got money later and decided to not honor your word then either.

No matter how you slice it... you made a promise and refused to keep it even later when things got better financially.
"
The poor must go about naked, without any clothing.
They harvest food for others while they themselves are starving.
They press out olive oil without being allowed to taste it,
and they tread in the winepress as they suffer from thirst.
The groans of the dying rise from the city,
and the wounded cry for help,
yet God ignores their moaning. Job 24:10

Job's observation of life. GOD does not help everyone. I don't know why.
 

Fundaamental

Well-known member
Mar 17, 2023
3,289
421
83
"
The poor must go about naked, without any clothing.
They harvest food for others while they themselves are starving.
They press out olive oil without being allowed to taste it,
and they tread in the winepress as they suffer from thirst.
The groans of the dying rise from the city,
and the wounded cry for help,
yet God ignores their moaning. Job 24:10

Job's observation of life. GOD does not help everyone. I don't know why.
John your wasting your time with him, he has an agenda with Christians.
To say Christians should not go broke in this day an age and call them bums.

Shows what a malice disrespectful person he is. He looking for reactions and finding good excuses to get them.

The fact that Christians can get loans in the first place is because you have to be able to have a good credit history.

The reason why people get credit cards

Is so then can build up a good credit rating to get a mortgage or fiance for a car.

Theese day John people with good credit history are having to get loans just to buy food. There is also a real shortage of food all over the world.

John be advised stay well clear
 

ZNP

Well-known member
Sep 14, 2020
37,490
6,929
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Bankruptcy is a license to steal granted by the government. The only ethical pardon would be if your creditor pardoned you.
What about tax fraud? Would that mean the only ethical pardon of someone guilty of tax fraud would be if the tax payers pardoned him?
 

GWH

Groovy
Oct 19, 2024
1,871
452
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With friends, family, and individuals, we have a moral obligation to pay back a loan otherwise it can be considered stealing. Of course, people should be lenient when there are hard times.

Generally I believe we have a moral obligation to pay back the debt we signed up for. Most of the people losing homes had adjustable rate mortgages which is not wise (they knew in advance of the possibility of high rates and increased mortgages). Those with fixed rate mortgages are more shielded; they should not face increased mortgage payments. We must be wise not take loans from loan sharks, predatory entities, etc. I think credit card companies are very predatory, so it is best to limit using them.
Amen. We should live within our means as government tries to increase our income rather than cause inflation.