King James Bible Dictionary

The Mosaic law encouraged the practice of lending (Deuteronomy 15:7; Psalms 37:26; Matthew 5:42); but it forbade the exaction of interest except from foreigners. Usury was strongly condemned (Proverbs 28:8; Ezekiel 18:8, 13, 17; 22:12; Psalms 15:5). On the Sabbatical year all pecuniary obligations were cancelled (Deuteronomy 15:1-11). These regulations prevented the accumulation of debt.

General references
Romans 13:8

Security for
Exodus 22:25-27; Deuteronomy 24:6; Deuteronomy 24:10-13; Nehemiah 5:3-4; Job 22:6; Job 24:9; Proverbs 11:15; Proverbs 22:26; Amos 2:8
Debtor; Creditor; Surety

DEBT, noun det. [Latin debitum, contracted.]

1. That which is due from one person to another, whether money, goods, or services; that which one person is bound to pay or perform to another; as the debts of a bankrupt; the debts of a nobleman. It is a common misfortune or vice to be in debt

When you run in debt you give to another power over your liberty.

2. That which any one is obliged to do or to suffer.

Your son, my lord, has paid a soldier's debt

Hence death is called the debt of nature.

3. In law, an action to recover a debt This is a customary ellipsis. He brought debt instead of an action of debt

4. In scripture, sin; trespass; guilt; crime; that which renders liable to punishment.

Forgive us our debts. Lord's Prayer.

DEBT'ED, participle passive det'ted. Indebted; obliged to.

DEBTEE', noun dettee'. A creditor; one to whom a debt is due.

DEBT'LESS, adjective det'less. Free from debt.

Various regulations as to the relation between debtor and creditor are laid down in the Scriptures.

1. The debtor was to deliver up as a pledge to the creditor what he could most easily dispense with (Deuteronomy 24:10, 11).

2. A mill, or millstone, or upper garment, when given as a pledge, could not be kept over night (Exodus 22:26, 27).

3. A debt could not be exacted during the Sabbatic year (Deuteronomy 15:1-15).

For other laws bearing on this relation see Leviticus 25:14, 32, 39; Matthew 18:25, 34.

4. A surety was liable in the same way as the original debtor (Proverbs 11:15; 17:18).

Laws concerning
Exodus 21:2-6; Exodus 22:10-15; Leviticus 25:14-17; Leviticus 25:25-41; Leviticus 25:47-55; Nehemiah 10:31; Matthew 5:25-26; Matthew 5:40; Matthew 18:25

Unclassified scriptures relating to
2 Kings 4:1-7; Nehemiah 5:3-5; Job 20:18-19; Matthew 18:23-33; Luke 20:9-16
Creditor; Debt; Surety

[LOAN]

DEBT'OR, noun det'tor.

1. The person who owes another either money, goods or services.

In Athens an insolvent debtor became slave to his creditor.

2. One who is under obligation to do something.

I am debtor to the Greeks and barbarians. Rom. I.

He is a debtor to do the whole law. Galatians 5:3.

3. The side of an account in which debts are charged.