Another sign of Financial Bondage – Past due bills!

Last time we talked about a Get Rich Quick mentality. The Bible warns us that this is a sign of financial bondage. About 10 years ago the Lord used the busting of the Dot-com bubble to help me see this sin in my life.

I believe another sign of Financial Bondage are past due bills.

When we purchase something, we agree to pay for it within a time frame set by the vendor. These are called terms. These terms could be very clearly spelled out like on credit card statements and called Express Terms or not so clearly spelled out and assumed which are called Implied Terms. In other words, when we buy something, we are expected to pay for it when the person or company we bought it from expects to be paid.

Paying our bills within terms is what is expected of us by the World's economy. But remember God's Economy requires us to live to a higher standard.

Proverbs 3:27 says "Do not withhold good from those to whom it is due, when it is your power to do it". That could be translated loosely "Pay your bills on time".

Romans 13:8 says in the NIV" Let no debt remain outstanding, except the continuing debt to love one another…" It is pretty clear that we have to pay our bills and pay them on time. If we don't, it is a sign of financial bondage.

I am visiting my daughter this week and at her church on Sunday the pastor spoke on Matthew 5:33-37 from the Sermon on the Mount. One of the points he made in reference to Matthew 5:37 is that believers we are called to the highest standard of integrity and truthfulness. Ephesians 4:25; Colossians 3:9-10 and Proverbs 12:22 call believers to be totally truthful in our dealings.

When we do not pay our bills on time (or earlier than expected) we are not being totally truthful.

Here are two articles that might be interesting to business owners, churches and ministries that relate to prioritizing the paying of bills. The first is by Rick Boxx of Integrity Resource Center and the second is by Crown Financial Ministries. Although the world's economy tells us to stretch out our vendors when times are tough, God's economy says pay our vendors and our bills first.

The Bible is both consistent and full of common sense. The common sense tells us that it will be very hard to share our faith with creditors when we are late in paying them. Also these past due invoices become very expensive. Making a $20 minimum payments on a $1000 purchase on a 23.99% interest credit card will cost an extra $2000 and take over 13 years to pay off the purchase. And according to this article from the Associated Press, it is only going to get worse!!

The Bible is also consistent in that most past due invoices fall into the category of a debts of surety. We discussed surety in earlier posts, but God very clearly tells us to get out of debts of surety as quickly as possible. (Proverbs 6:1-5)

Yes, I believe that Past Due bills and Past Due invoices are a sign of financial bondage and part of the world's economy and have no place in God's economy. I would be very interested in hearing your thoughts on this subject.