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.