The burden of debt

Debt is a growing problem for many families in Britain. In 2017 the average annual overspend for families in Britain was £900. It is estimated that £19bn is owed for utility bills, missed council tax payments and repayment of overpaid benefits. There has also been a rapid increase in borrowing on credit cards and poorer families are increasingly looking to payday loan companies for loans to cover daily living costs. The interest charged by these companies is astronomical.

It is only too easy to be enticed into taking credit when companies offer interest-free or low interest credit for new cars, furniture, the latest technological gadgets, new bathrooms and kitchens. The cost of getting everything needed for their children to go to school at the beginning of a new academic year has recently put real pressure on many families. Children experience peer pressure to wear high-cost clothes with designer labels and to have the latest smartphone and tablet.

Debt can be crushing. I remember visiting a man who was seriously in debt. He had been injured in a car crash and could no longer work. His marriage had broken down and he had run out of money. He was afraid of the post arriving because there would be more red letters demanding payments he couldn’t make. His bank refused to lend him any more money and he was afraid that one day the bailiffs would arrive. He was imprisoned in his house and deeply depressed. He needed someone to come alongside him. Together we were able to work through his situation and find a way to address his debts. Today Christians Against Poverty is one organisation which helps people to manage their debts and to face the future with hope.

The Bible also speaks about another debt we owe because we break God’s laws. In the Lord’s Prayer Jesus encouraged his disciples to pray “Forgive us our debts.” All of us have this debt problem, whether we are rich or poor. Every day we do and say things we know are wrong and so our debt to God increases. As many people try to ignore financial debts so we may push this debt to the back of our minds. But Jesus encourages us to face up to our moral and spiritual debt and to ask God to forgive us. Jesus died on the Cross to pay the price of our sins and so through him we can experience the joy of forgiveness and the cancelling of the debt we owe to God.

When we are in debt

Christmas has passed, the decorations have been taken down and life is returning to normal. Yet for many people living in Britain January is a worrying month because the bills for Christmas will soon arrive. Millions of people are entering 2018 with a debt hanging over them because they overspent during the festive period. One advice line estimates that 7.9 million people are likely to fall behind with their finances in January because of credit card debt incurred over Christmas.

Being in debt is oppressive. I remember visiting a man who was in debt. He had been injured in a car accident and had lost his job. The debts had begun to accumulate and he was unable to pay them. The bank had refused to increase his overdraft and the red letters, with their demands and threats, were arriving regularly. He no longer opened letters from the companies to which he owed money. Debt had paralysed him and filled him with fear for the future. He felt very alone and had seriously considered ending his life.

When we are in debt we need to seek help. I was able to come alongside the man and to work out with him ways to begin to address his debts. In time, all his debts were cleared and he was able to move to a new flat. A great burden had been lifted from him and he was able to enjoy life again. Organisations like Christians Against Poverty offer practical help to people overwhelmed by debt enabling them to manage their repayments and, in time, to be debt-free.

When I visited the man I was also able to pray with him and to ask God to help him. God is just and is particularly concerned for the poor and for widows and orphans. He sees the oppression of the poor and vulnerable through immorally high interest rates and he will call such lenders to account. God also provides for us in our need. In the Lord’s Prayer Jesus taught us to pray, “Give us this day our daily bread.” This petition is not only for our food but for all our daily needs. God is the One who gives us all good gifts. If you are overwhelmed by debt, ask God to help you. In Psalm 34 the Psalmist says, “I prayed to the Lord, and he answered me. He freed me from all my fears. In my desperation I prayed, and the Lord listened; he saved me from all my troubles.”