GO PAY YOUR DEBT

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GO, PAY YOUR DEBT

Text: 2Kgs 4: 1 – 7, Rom 13: 8, Pro 22: 7

INTRODUCTION:

Indeed every man is a debtor of a kind. It is either you are owing God or man or both. But the bible says “Owe no man anything, but to love one another for he that loveth another hath fulfilled the law” Rom 13: 8. While we may never finish paying the debt we owe God no matter how we may try, but the debt we owe men must be paid.

Whereas an unpaid debt may bring a curse on a man, but for those who pay their debt there is blessing`.

In today’s study and perhaps in some days to come we shall be considering the subject of indebtedness and how to free ourselves from it.

1. HOW PEOPLE GET INTO DEBT

a. By Chance 1 Cor 15: 9-10, 2Cor 6: 1 …………………………………………………………………………………………

b. By Choice Deut 15: 6, 28: 12 ……………………………………………………………………………………………………

c. From your own experience why do people borrow? Are those reasons justifiable? Support your reasons with the scriptures.

2. INDEBTEDNESS: Its Pains and Gains (If any…) Pro 37: 21, 22: 7

a. What will you consider as the gains of borrowing?

b. What are Pains people go through as a result of indebtedness?

c. In view of the above will you like to continue to borrow or trust God to be financially independent?

3. THE VICIOUS CYCLES OF DEBT

A vicious cycle of debt of continued borrowing that leads to increased debt, increasing cost of servicing such debt and eventual default. When you spend more than you earn, you go into debt. At some point, the interest costs become a significant monthly expense and your debt increases even faster than you can cope with:

1. Why is it difficult (but not impossible) to get out of debt?

a. Difficulty in changing ones’ (financial) lifestyle – indiscipline

b. Difficulty in making sacrifices constantly

c. Increasing interest rates

d. Over bloated, re-current Expenditure

e. Unexpected Expenses – Having to finance something you did not plan for

f. Constant satanic attack

g. Any others

 Conclusion and memory verse: Deut 15: 6

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