det, det ́ẽr: It is difficult nowadays to think of debt without associating with it the idea of interest, and even usury. Certain it is that this idea is associated with the Old Testament idea of the word, at least in the later period of Old Testament history. This is true of the New Testament entire. The Hebrew word (נשׁי, neshī) always carries with it the idea of “biting interest” (compare 2 Kings 4:7). The Greek words δάνειον, dáneion (Matthew 18:27), and ὀφειλή, opheilḗ (Matthew 18:32), may point only to the fact of indebtedness; the idea of interest, however, is clearly taught in the New Testament (compare Matthew 25:27).
Quite extensive legislation is provided in the Old Testament governing the matter of debt and debtors. Indebtedness and loaning had not, however, the commercial aspect among the Jews so characteristic of the nations surrounding Palestine. Indeed the Mosaic legislation was seemingly intended to guard against just such commercialism. It was looked upon as a misfortune to be in debt; it indicated poverty brought on probably by blighted harvests; consequently those in debt were to be looked upon with pity and dealt with in leniency. There must be no oppression of the poor under such circumstances (Exodus 22:25; Deuteronomy 23:19, 23:20; Ezekiel 18:18). Even where a pledge is given and received, certain restrictions are thrown around it, e.g. the creditor must not take a mill, nor a necessary garment, nor a widow’s ox, etc., in pledge (Exodus 22:25-27; Deuteronomy 24:6, 24:10-13; Job 22:6; Amos 2:8). And further, the pledge is to be restored in some instances “before the sun goeth down” (Exodus 22:26-27), and in all cases full redemption in the seventh and jubilee years (Nehemiah 10:31, etc.). The Jews were strictly exhorted to take no interest at all from their own nation (Exodus 22:25; Deuteronomy 23:19, 23:20). Strangers, however, might be charged interest (ibid.). A devout Jew would not lend money to another Jew on interest.
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Author: International Std. Bible Encyclopedia
Keywords: Debt, Debtor
Source: James Orr (editor), The International Standard Bible Encyclopedia, 5 volume set.
Page indexed by: inWORD Bible Software.