Regulations Concering Debt Cancellation
October 12, 2021
Commentary
In this chapter Moses states that during this seventh year the Israelites were not to be pressed to pay their debts. This does not mean that the debts would be eliminated completely but simply that the time of payment was extended for one year. The Israelites were allowed to press foreigners during this time for payment of loans; but were not allowed to press their brethren (v. 3). Moses gives the regulations concerning the sabbatical year or the year of debt release. The law of “debtcancellation” is stated in verse 1 and explained in verses 1-11. To cancel the loan could mean the loan was to be eliminated or it could mean it was to be cancelled only during the seventh year. Regardless, the payment could not be demanded in the seventh year, but after the seventh year the loan would still have to be repaid. The borrower would receive an extra year for paying back the loan and the person making the loan would lose interest for one year. The law of debt cancellation was intended to instill a spirit of generosity within the Israelites and thus the freedom from the love of money and things.
God told the Israelites to help the poor among them when they arrived in the Promised Land (vv. 7-11). Since there will always be poor people, Israel was commanded to open its heart and hand to them. Therefore, an Israelite was guilty of sin if he refused, out of fear, to loan to a poor brother (v. 7) or a needy brother (v. 11), immediately before the year of debtrelease. Being hardened or tight fisted meant he was not trusting the Lord to bless. Moses summarized the attitude the Israelites should have toward those in need by telling them to be “open handed” (vv. 8,11).
Application
I want to be especially careful to never create indebtedness on things that depreciate. I do not want to overspend on things that I do not really need. Also, I need to be more conscious of the poor and needy and look for ways I can help them with what you bless me with.
Deuteronomy 15:1– 11 (NET)
1 At the end of every seven years you must declare a cancellation of debts. 2 This is the nature of the cancellation: Every creditor must remit what he has loaned to another person; he must not force payment from his fellow Israelite, for it is to be recognized as “the Lord’s cancellation of debts.” 3 You may exact payment from a foreigner, but whatever your fellow Israelite owes you, you must remit. 4 However, there should not be any poor among you, for the Lord will surely bless you in the land that he is giving you as an inheritance, 5 if you carefully obey him by keeping all these commandments that I am giving you today. 6 For the Lord your God will bless you just as he has promised; you will lend to many nations but will not borrow from any, and you will rule over many nations but they will not rule over you.
7 If a fellow Israelite from one of your villages in the land that the Lord your God is giving you should be poor, you must not harden your heart or be insensitive to his impoverished condition. 8 Instead, you must be sure to open your hand to him and generously lend him whatever he needs. 9 Be careful lest you entertain the wicked thought that the seventh year, the year of cancellation of debts, has almost arrived, and your attitude be wrong toward your impoverished fellow Israelite and you do not lend him anything; he will cry out to the Lord against you, and you will be regarded as having sinned. 10 You must by all means lend to him and not be upset by doing it, for because of this the Lord your God will bless you in all your work and in everything you attempt. 11 There will never cease to be some poor people in the land; therefore, I am commanding you to make sure you open your hand to your fellow Israelites who are needy and poor in your land.
Illustration: Whole House Full of Furniture That Goes Back to Sears
A man was once boasting to an acquaintance, “We have a whole roomful of furniture from France that goes back to Louis the 14th.” “That’s nothing,” replied the other. “We’ve got a whole house full of furniture that goes back to Sears on the 12th.” (Source unknown).