Is a personal debt crisis dangerous?
It has been alarming to hear not only of individuals in debt, but also news of countries teetering on the brink of bankruptcy has sent a shudder through the entire world. For too long, governments have spent foolishly and have failed to curb reckless investments by banks and financial institutions. The result, precipitated by the credit collapse of 2008, has been that massive debts have been incurred that have left even the International Monetary Fund with worrying problems on their minds and many countries feeling that the problem had reached irremediable proportions.
Austerity measures, deeply unpopular with the citizens of the countries affected, have had to be introduced before financial "bale-outs" could be sanctioned by leading economies. Public services have had to be slashed; public assets have had to be sold off and other draconian measures have been introduced to alleviate, even in a very small way, this mammoth problem. The result has been a debt crisis of unprecedented severity that has left some countries saddled with debts that could never be paid, amounting to many trillions of dollars; figures that are incomprehensible.
Inflation; deflation; recession and depression are terms that we have become acquainted with; we have all been affected and our lifestyles will never be the same again. We have become acutely aware of spiralling costs; of the need to "tighten our belts" and many have become unemployed or bankrupt because debtors could not pay their bills. The harsh effects have permeated through every strata of society, affecting everyone. Unfortunately, some have been overwhelmed by the magnitude of their problems and have committed suicide; debt can be that debilitating and destructive. If, like so many others, you have become enmeshed in a problem, not of your making and you are struggling to survive on a day to day basis; please be assured of our understanding and heartfelt sympathy.
However, there is a more serious debt that few ever think about; the Bible speaks of us as debtors, saddled with a debt that we will never be able to pay. It is the debt that has been incurred by our sin and every day we live, the debt increases and the problem intensifies.
Our only hope lies in finding someone wealthy enough who would be willing to pay the debt for us. To whom can we turn, hoping for a sympathetic response to our need? Who could possibly have the incalculable resources to meet such a gigantic need? You may not have been bothered by this debt but you can never be in heaven until that debt is completely cancelled. It is that serious!
The Bible uses terms such as "redeemed"; "redemption" and refers to Jesus Christ as the "Redeemer". In 1 Peter chapter 1 verses 18 & 19 we read, "Forasmuch as ye know that ye were not redeemed with corruptible things, as silver and gold … but with the precious blood of Christ …" To redeem means to set free by the payment of a debt. We can only be liberated by the payment of a ransom and upon the cross at Calvary, the Lord Jesus paid that fearful price by the shedding of His precious blood. He "gave Himself a ransom for all …," 1 Tim. 2. 6. That is the only price acceptable to God and our every attempt to solve the problem, will be futile. Are you still in debt or can you rejoice with those of us who are saved, to know: "He’s mine because He died for me, He paid my debt, He set me free?"
Originally written by Assembly Testimony and used by kind permission.
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