At the end of every seven years you must cancel debts. Deuteronomy 15:1 NIV
This was the standard for the Israelites. What an amazing way to live! The idea of universal debt forgiveness every seven years is both inconceivable and functionally impossible today. So rather than fantasize about the practice, it may be more helpful and reasonable to consider the implications of the principle of personal debt elimination. Although it is impossible to mandate that all lenders forgive all debt every seven years, it is completely possible to embrace the concept of all borrowers eliminating our own debt every seven years.
Imagine how our lives would change if we set as a goal to be completely free of debt within the next seven years. No credit cards, no auto loans, no student loans - no debt at all. That is the principle that God instructs the Israelites to follow. Of course God was speaking to the lenders among them. Most of us are borrowers. So the cancellation of our debt requires that we pay off our existing debt and avoid creating new debt.
Ok. Someone asks if this includes mortgage debt for homeowners. If freedom from debt includes all debt, then yes - it does include mortgage debt. So let's try this approach - let's eliminate all debt except mortgage within seven years and then set a new goal of eliminating the remaining mortgage debt within the next seven years.
Debt is a barrier to financial freedom and prosperity. Let's remove that barrier and cancel/eliminate all debt within seven years. If you want to do it and need a free tool that will help, click here.
"God, help me to eliminate all of my debt within seven years. Amen"