In biblical times, the concept of credit and debt was well understood, and creditors often played a significant role in the economic and social life of the community. The Bible provides various insights into the practices and expectations surrounding creditors, including the demand for bills or promissory notes as a form of security or evidence of debt.

Biblical Context and Practices

In ancient Israel, lending and borrowing were common practices, often necessary for survival and economic stability. The Mosaic Law provided guidelines to ensure fairness and compassion in these transactions. Creditors were expected to act justly and with mercy, especially towards fellow Israelites. The law emphasized the importance of not exploiting the poor or taking advantage of those in need (Exodus 22:25-27; Leviticus 25:35-37).

Bills and Promissory Notes

While the Bible does not explicitly mention "bills" or "promissory notes" as we understand them today, the concept of a written agreement or pledge is present. In the ancient Near East, written documents were often used to formalize agreements, including debts. These documents served as evidence of the obligation and terms agreed upon by both parties.

The practice of securing debts with a pledge or collateral is evident in the biblical narrative. For example, in Proverbs 22:26-27, there is a warning against becoming surety for another's debt, highlighting the potential consequences of such agreements: "Do not be one who shakes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you."

Moral and Ethical Considerations

The Bible emphasizes the moral and ethical responsibilities of creditors. They are called to act with integrity and compassion, recognizing the dignity and humanity of the debtor. In Deuteronomy 24:10-13, specific instructions are given regarding the treatment of debtors: "When you make a loan of any kind to your neighbor, do not enter his house to collect security. You are to stand outside while the man to whom you are lending brings the security out to you. If he is a poor man, you must not go to sleep with the security in your possession; be sure to return it to him by sunset so that he may sleep in his own cloak. Then he will bless you, and it will be credited to you as righteousness before the LORD your God."

The Year of Jubilee

The Year of Jubilee, as described in Leviticus 25, provided a unique approach to debt and credit. Every fiftieth year, debts were to be forgiven, and land returned to its original owners. This practice underscored the principle that the land and its produce ultimately belonged to God, and it served as a reminder of the need for economic justice and social equity.

New Testament Insights

In the New Testament, Jesus' teachings further illuminate the attitudes towards debt and creditors. In the parable of the unmerciful servant (Matthew 18:23-35), Jesus highlights the importance of forgiveness and mercy, contrasting the actions of a servant who, despite being forgiven a great debt, refuses to forgive a smaller debt owed to him by another.

The Apostle Paul also addresses the issue of debt, urging believers to owe nothing to anyone except the continuing debt to love one another (Romans 13:8). This teaching reflects the transformative ethic of love and grace that should characterize Christian relationships, including those between creditors and debtors.

In summary, while the Bible does not explicitly mention modern financial instruments like bills or promissory notes, it provides a framework for understanding the ethical and moral responsibilities of creditors. The biblical narrative calls for justice, mercy, and compassion in all financial dealings, reflecting the character of God and His concern for the well-being of all people.Luke 16:6,7
And he said, An hundred measures of oil. And he said to him, Take your bill, and sit down quickly, and write fifty.
Torrey's Topical Textbook

What does the Bible say about going into debt? | GotQuestions.org

I am a Christian in debt. What should I do? | GotQuestions.org

Is it right for a church to go into debt? | GotQuestions.org

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