What kinds of problems do you envision befalling people who are in debt and don't get out of debt?
Obviously, one problem that happens right away is a certain loss of freedom and choice in what to do with the money they earn--a certain amount has to go to creditors. That, in turn, limits what they can do if it is something that costs money and they don't have enough.
I'm thinking more in terms of the Last Days. For example, do you think creditors will rush to confiscate property if people can't pay their debts off quickly?
__________________
"We know the truth, not only by the reason, but also by the heart." (Blaise Pascal 1623-1662)
I'm thinking more in terms of the Last Days. For example, do you think creditors will rush to confiscate property if people can't pay their debts off quickly?
You know, it all depends on the speed of collapse. For some reason, if an asteroid strikes I don't think that they're going to move to foreclose on your house. But if there's another Great Depression as society slowly collapses, then you can bet they'll try.
__________________
If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Good points, you-all. I was just wondering if there were any particular things about debt that might create special hardships in end times. I see the counsel to get out of debt as having mostly to do with living a good life now, but I can see debt as inhibiting preparation for end times, such as preventing a person from being able to accumulate food storage or keeping a person so busy earning money to meet his obligations that he doesn't have much time to spend strengthening himself spiritually or strengthening family ties, and so forth.
__________________
"We know the truth, not only by the reason, but also by the heart." (Blaise Pascal 1623-1662)
I think that inflation is more of a strain on family finances if the family is already living on the edge of their income. Witness the near doubling of gas prices in the last two years, or however long it's been. If your debt load is already giving you cash flow nightmares, how do you absorb the additional costs for fuel? And that's just one commodity, although granted, gasoline price increases do drive up the cost of everything else. But if we saw a two-fold increase in everything, how many people could continue to afford to pay their debts?
I don't believe we have to go through end times for debt to be a crushing burden. Economies can dip, banks and businesses can fail, natural disasters can occur, we can experience long periods of unemployment. None of these require the 2nd coming, or an asteroid to hit the earth, but all of them could lead to financial ruin.
You do not own yourself when you are in debt. Your time and your stuff are owned by someone else. And remember, financial troubles are a major cause of divorce.
[putting on tattered cloak and staring upwards as if passing on message from above]
Beware debt! It will destroy you! Ruin families! Send people to hell!
What will the weak testimony do when the mortgage company comes and says, well, you can keep your house, but to repay the mortgage debt, you will stop attending church and work for us all day on Sunday. An extreme example, but I can think of a half dozen of my friends that would be weak enough to succumb.
