Tuesday, May 23, 2017

Why You Should Not Borrow

Written by Uyoyou Christiana Charles-Iyoha

For the LORD your God will bless you as he has promised, and you will lend to many nations but will borrow from none. You will rule over many nations but none will rule over you. Deuteronomy Chapter 15 verse 6 

The Lord will open for you His good treasure house, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you will lend to many nations, but you will not borrow. Deuteronomy Chapter 28 verse 12

But you shall remember [with profound respect] the Lord your God, for it is He who is giving you power to make wealth, that He may confirm His covenant which He swore (solemnly promised) to your fathers, as it is this day. Deuteronomy Chapter 8 verse 18


You are a lender to the nations. Why should a lender to the nations borrow especially when God says you will not borrow?  Secondly, the Bible says that God will give you power to get wealth. The Lord Who promises to give you power to get wealth will always ensure that wealth accrues to you so that you will always have more than enough to live on. But you must be productively engaged like the wise and faithful servants who received five and two talents each. They deployed the talents diligently and multiplied them. Beloved, if you are productively engaged in financially, mentally and spiritually rewarding activities, God will honor His word and bless all the work of your hands as stated in Deuteronomy Chapter 28 verses 12, 8; 30 verse 9, 24 verse 19, 23 verse 20, 16 verse 15, 15 verse 18, 10, 12 verses 7 and 18.  Additionally, God in His infinite mercies and wisdom will give you the wisdom you require to own unlimited financial resources so that you always operate in and walk in financial dominion. The Biblical King Solomon is a classic example.
Another reason why you should not borrow is that the borrower is servant to the lender. Please see Proverbs Chapter 22 verses 7, 26 to 27, 2nd Kings Chapter 4 verses 1 to 7, 6 verses 1 to 7.
Servants irrespective of who they serve or where they serve have limited rights. They are always at the beck and call of their master, forever waiting on their master. Please see Luke Chapter 17 verses 7 to 9, Ephesians Chapter 6 verses 5 to 8. That exactly is what the Scripture in Proverbs Chapter 22 verse 7 is about. A borrower especially one who is unable to pay back loans taken is subject to the whims and caprices of the lender or creditor. Recall the cry of the widow of the indebted son of the prophet! The creditor was about to take her two sons for debt slavery because her late husband was unable to repay the loan he took from the creditor. Beloved, consider this! Two son who would serve for as long as God knows how to repay a loan their father took. The creditor had no intention of leaving at least one son with the widow to help out in the family farm. This scenario reminds me of what some money lending institutions and money lenders do to people who are unable to repay loans. They sell off their properties at ridiculously low prices and sometimes the debt is still not fully paid up. Would it not have been better to trade off those properties on their own for financial resources rather than take those loans with high interest rates and sometimes extremely challenging repayment terms?

Beloved, I know that loans are sometimes necessary to start off a business, grow and expand a business but be careful what loans you take if you must take a loan. Secondly, make sure you settle it with God before taking on such loans. But if He says no, then obey Him and do not take the loan. God is the great Provider and knows best how to meet each and every one of your needs according to His riches in glory by Christ Jesus.

Also in Romans Chapter 13 verse 8, the Bible instructs believers not to owe anyone anything except love. Why then should you be indebted to anyone and God forbid you are unable to pay, the person or institution becomes bitter towards you and wish you evil? I have heard numerous tales of woe from women who patronize money lending institutions and money lenders to finance their micro businesses. They have reported that some of the officers of those institutions actually place curses on them and members of their families when they are unable to pay back the loans. Additionally, the Bible says that the wicked borrow and do not pay back. Did those women set out to borrow and not pay back? Definitely not. But because they lack the capacity to pay, they are referred to as wicked people. Beloved, a word they say is enough for the wise.


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