WISDOM FOR LIVING DAILY DEVOTIONAL
MAY 08, 2026
TOPIC: PAY OFF YOUR DEBTS
BY T. O. BANSO
“The wicked borrows and does not repay, but the righteous shows mercy and gives” (Psalm 37:21 New King James Version).
It is not a sin to borrow, but it is a sin to borrow and not repay. It is possible for Christians, including pastors, to be guilty of this. Although we don’t know the circumstances surrounding this, a prophet, one of the sons of the prophet, died without paying off his debt (2 Kings 4:1). The creditor didn’t forgive his debt because he was a man of God; he wanted to take away his two sons as slaves. When his widow ran to the prophet Elisha for help, he saved the situation.
No matter the excuse anyone gives, it is not only immoral to borrow and not repay; it is also a sin. This is why it is essential to think carefully, consider your income, pray, and, where necessary, seek professional advice before borrowing a large sum of money.
To argue that borrowing is a sin, some people have used the scripture, “Owe no one anything except to love one another” (Romans 13:8a New King James Version). Nothing in this scripture condemns borrowing. The Living Bible renders the verse thus: “Pay all your debts except the debt of love for others—never finish paying that!” That scripture does not prohibit borrowing but emphasises the indebtedness to love others.
If borrowing were a sin, Jesus would not have said, “And if you lend to those from whom you hope to receive back, what credit is that to you? For even sinners lend to sinners to receive as much back. But love your enemies, do good, and lend, hoping for nothing in return; and your reward will be great, and you will be sons of the Most High. For He is kind to the unthankful and evil. Therefore be merciful, just as your Father also is merciful” (Luke 6:34-36 New King James Version).
There may be justifiable reasons to borrow, but the Bible says if you do, you must repay. Accumulating debts denies you your liberty. Debt is like slavery until you repay it! Proverbs 22:7 says the rich rule the poor, so the borrower is a servant to the lender. Therefore, ensure that you borrow only when necessary. Don’t incur debts or loans on non-essentials; rather, use them for investments when there is no other alternative. Ensure you have all the necessary information about the investments, and you have the capacity to repay.
As much as possible, avoid borrowing for wants; if you must borrow, do so only for needs. Differentiate between your wants and your needs. Avoid borrowing to repay or pay off other debts; otherwise, you will enter an unending cycle of debt. Finally, don’t borrow simply because others are borrowing or because a bank invites you to do so. Beware of the growing number of digital loan apps offering unsolicited loans and their accompanying risks.
If you’re going to enjoy financial liberty, you must be careful about debts. Don’t follow those who joyfully say nobody can do without debts. Most of them incur debts that are not tied to wise investments. It may amount to wickedness to borrow and refuse to pay back. It is like paying back good with evil. “The wicked borrows and does not repay, but the righteous shows mercy and gives” (Psalm 37:21 New King James Version).
Avoid debt, especially when it is not for investment, and pay off your debts. To pay off your debt means to make the final payment on the money you owe your creditor. In other words, to pay in full the outstanding balance. Don’t enslave yourself to anyone or any bank. Many loan defaulters have lost their businesses and collateral to banks. While merely repaying your debt is better than not paying at all, paying off and being debt-free should be your ultimate goal. Pay off your debts.
Matthew 18:23-35 tells the story of the unforgiving servant. In addition to the issue of unforgiveness, one significant thing in that story is that the two servants couldn’t pay their debts—they were bad debts. Don’t rush into debt. Paying back debts is not always easy. Ensure the debt is worth it.
Similarly, Luke 7:41-42 talks about two debtors who couldn’t pay their debts: “There was a certain creditor who had two debtors. One owed five hundred denarii, and the other fifty. And when they had nothing with which to repay, he freely forgave them both. Tell Me, therefore, which of them will love him more?” (New King James Version).
Don’t incur debts you won’t be able to pay. Not all creditors forgive debts, as seen in 2 Kings 4 regarding the debt incurred by one of the sons of the prophets. The creditor would have taken away the two sons of the poor widow because of unpaid debt. The widow was not free until she repaid her late husband’s debt.
Sometimes, there are demonic attacks against people’s finances in the form of sicknesses, tragedies, etc., that drain their resources and force them to borrow to find solutions to their problems. Pray against such satanic attacks.
Pay off your debts. Don’t leave any debt unpaid. This will give you financial freedom and peace of mind. You may not have what others have—most of which are wants, not needs—but you will not live in fear of your creditors. Avoid materialism, which causes people to attach too much importance to money and want to possess many material things. This drives them to buy unnecessary things on credit. Pay off your debts and be debt-free. Inculcate financial discipline.
Stop praying that your creditors will forget or die! That’s not only ridiculous but wicked. Rather, discipline yourself financially, pray for God’s provision to pay off your debts, and take practical steps to do so. If you can’t pay them all at once, prioritize paying back, even if it’s little by little. When God provides, don’t divert it to something else.
Refusing to repay your debts is a sin. Therefore, it may hinder God’s blessings and obstruct your prayers. You have wronged someone by refusing to pay your debt. He has something against you. Matthew 5:23-24 says you should leave your gift at the altar and first go and reconcile with the person who has something against you, and then come back to offer your gift. Go and pay back what you owe. Prioritise paying off your debt; it will reduce total interest charges.
Telling many people to pay off their debts when they can is always a painful truth. Many debtors don’t like to hear that. Some justify or rationalise it, but the Word of God says to repay your debts.
I pray for those trapped in debt by life’s adversities and facing difficult or impossible loan repayments. The Lord will deliver them from such adversities. May the Lord turn their lives around and remove from them the yoke of debt. May He give them the wisdom to manage their finances.
Don’t be a wicked debtor! Pay off your debts. Be a person of integrity. This applies to individuals and organisations, including businesses, churches, and Christian ministries. Give to people what you owe them. Don’t default on your debt repayments, but let your ultimate goal be paying it off so that you can be free. This will improve your mental and financial health.
TAKE ACTION!
If you are not born again, you must give your heart to Jesus now. Please take the following steps: *Admit that you are a sinner and you cannot save yourself, and repent of your sins. *Confess Jesus as your Lord and Saviour. *Renounce your past way of life – your relationship with the devil and his works. *Invite Jesus into your heart. *As a mark of seriousness to mature in the faith, start attending a Bible-believing, Bible-teaching, and Bible-practising church. There, they will teach you how to grow in the Kingdom of God.
Kindly say this prayer now: O Lord God, I come unto You today. I know I am a sinner, and I cannot save myself. I believe that Jesus is the Son of God who died on the cross to save me, and God raised Him on the third day. I repent of my sins and confess Jesus as my Lord and Saviour. I invite Jesus into my heart. By this prayer, I know I am saved. Thank You, Jesus, for saving me and making me a child of God.
I believe you have said this prayer from your heart. Congratulations! You must join a Bible-believing, Bible-teaching, and Bible-practising church where they will teach you how to live your new life in Christ Jesus. I pray that you flourish like a palm tree and grow like a cedar of Lebanon. May you grow into Christ in all things and become all God wants you to be. I will be glad to hear from you. The Lord be with you.
PRAYER POINTS: I destroy every yoke of debt in my life in Jesus’ name. I will not be a wicked person; I will pay off my debts. I shall maintain financial discipline. No more unnecessary purchases or living on credit! Father, deliver the victims of life’s adversities from financial debts. Let their adversities end, and free them from debt. Open the doors of finances to them.
(For over 900 in-depth and powerful messages by T. O. Banso, visit www.cedarministry.org).
T. O. Banso is the President of Cedar Ministry International, Abuja, Nigeria.
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