Coporate Finnce Db Forum; Coporate Finance

InstitutionCourseDataName Biblical view on financial debts According to the bible, a person who borrows becomes a slave to the lender, but to the world to world borrowing is an option to finance one’s needs. The bible doesn’t term borrowing as a sin. This paper outlines the natural consequences of borrowing money, co-signing of a loan, and obligations of borrower. Natural consequences of borrowing moneyA person who borrows becomes a servant to the person who lends the money (Proverbs, 22:7). When you borrow you gains nothing (Psalm, 37:21). When an individual borrows he anticipate the future on his own which may not come true. It interferes with provision by God( )God provides for us as a demonstration of his supernatural power thus this is interfered with when we borrow. Co-signing of a loanThis is a promise made by someone else to repay a debt if the borrower fails to make payments for any reason. According to Proverbs (17:18), a man who lacks understanding will stand as ana surety for his friends. The bible is against co-signing of a loan but instead insist that a person who borrows should repay what she/he borrows. Obligation of