11 Bible Verses about Cancellation Of Dept

Most Relevant Verses

Isaiah 61:1-3

The Spirit of the Sovereign Lord Jehovah is upon me, because Jehovah has anointed me to announce good news to the lowly and meek. He has sent me to bind up the brokenhearted, to proclaim liberty to captives and freedom to prisoners. To proclaim the favorable Year of Jehovah and the day of vengeance of our God. To comfort all who mourn, to present a garland, instead of ashes, to those who mourn in Zion, the oil of gladness instead of mourning, and the mantle of praise instead of a spirit of fainting. They will be called oaks of righteousness. They are the planting of Jehovah, that he may be glorified.

Leviticus 25:8-55

Count seven times seven years (seven sabbaths of years), a total of forty-nine years. Then, on the tenth day of the seventh month, the Day of Atonement, send someone to blow a trumpet throughout the whole land. In this way you will set the fiftieth year apart and proclaim freedom to all the inhabitants of the land. During this year all property that has been sold must be restored to the original owner or the descendants, and any who have been sold as slaves may return to their families.read more.
That fiftieth year will be your jubilee year. Do not plant or harvest what grows by itself or pick grapes from the vines in the land. The jubilee year will be holy to you. You will eat what the field itself produces. In this jubilee year every slave will be freed in order to return to his property. In the business of trading goods for money, do no wrong to one another. Corresponding to the number of years after the jubilee, you shall buy from your friend; he is to sell to you according to the number of years of crops. In proportion to the extent of the years you shall increase its price, and in proportion to the fewness of the years you shall diminish its price, for it is a number of crops he is selling to you. You must not wrong one another. You shall respect your God. I am Jehovah your God. You must observe my statutes and keep my judgments, so as to carry them out. That way you may live securely on the land. The land will give you its products. You will eat all you want and live there securely. You may ask: What will we eat in the seventh year if we do not plant or bring in our crops?' I will give you my blessing in the sixth year so that the land will produce enough for three years. You will plant again in the eighth year but live on what the land already produced. You will eat it, even in the ninth year, until the land produces more. No land may be permanently bought or sold. It all belongs to me! It is not your land! You only live there for a little while. When property is sold, the original owner must be given the first chance to buy it. If any of you Israelites become so poor that you are forced to sell your property, your closest relative must buy it back. If that relative has the money. Later, if you can afford to buy it, you must pay enough to make up for what the present owner will lose on it before the next Year of Celebration, when the property would become yours again. If he cannot earn enough to buy it back, what he sold stays in the hands of the buyer until the year of jubilee. In the jubilee it will be released, and he will own it again. If anyone sells a home in a walled city, for one year after selling it he has the right to buy it back. He may buy it back only within that time. If he does not buy it back during that year, the house in the city belongs to the buyer for generations to come. It will not be released in the jubilee. Houses in villages without walls are regarded as belonging to the fields of the land. They can be bought back. They will be released in the jubilee. The Levites always have the right to buy back their property in the cities they own. If any Levite buys back a house, in the jubilee the purchased house in the city will be released. This is because the houses in the Levite cities are their property among the Israelites. But a field that belongs to their cities must not be sold, because it is their property from generation to generation. If an Israelite becomes poor and cannot support himself, you should help him. He must live with you as a stranger without a permanent home. Do not collect interest or make any profit from him. Respect your God by respecting other Israelites' lives. Do not collect any interest on your money or on the food you give them. I am Jehovah your God. I brought you out of Egypt to give you Canaan and to be your God. If an Israelite becomes poor and sells himself to you, do not work him like a slave. He will be like a hired worker or a visitor to you. He may work with you until the year of jubilee. Then you will release him and his children to go back to their family and the property of their ancestors. They are my servants. I brought them out of Egypt. They must never be sold as slaves. Do not treat them harshly. Respect your God. You may have male and female slaves, but buy them from the nations around you. You may also buy the children of the foreigners who are living among you. Such children born in your land may become your property. You may leave them as an inheritance to your children, whom they must serve as long as they live. But you must not treat any Israelites harshly. Suppose a foreigner living with you becomes rich, while some Israelites become poor and sell themselves as slaves to that foreigner or to a member of that foreigner's family. He has the right to be set free by a relative, such as a brother. His uncle, his cousin, or some other relative could also buy him back. If he becomes rich, he could buy his own freedom. Then he and his buyer must take into account the number of years from the year he was bought until the year of jubilee. His sale price will be adjusted based on the number of years he was with his buyer. This is like the wages of a hired worker. If there are many years left, he must refund from his purchase price an amount equal to those years. If there are only a few years left until the year of jubilee, he must take them into account. He must refund from his purchase price an amount equal to those years. He should serve his buyer as a hired worker during those years. His buyer should not treat him harshly. If he cannot buy his freedom he and his children will be released in the year of jubilee. The Israelites belong to me! They are my servants. I brought them out of Egypt. I am Jehovah your God!'

Deuteronomy 15:1-3

Release all debts at the end of every seven years. This is how you should release. Every man who has a loan to his neighbor shall release it. He shall not require it from his neighbor, or from his brother, because it is called Jehovah's release. You may collect from a foreigner, but your hand should release that debt which is yours with your brother.

Deuteronomy 15:9

When the seventh year, the year when payments on debts are canceled, is near, you might be stingy toward poor Israelites and give them nothing. Be careful not to think these worthless thoughts. The poor will complain to Jehovah about you, and you will be condemned for your sin.

Deuteronomy 15:12-15

If you buy Israelites (your own brothers) as slaves, you must set them free after six years. Do not send him away empty handed when you set him free. Supply him liberally from your flock and from your threshing floor and from your wine vat. Give to him as Jehovah your God has blessed you.read more.
Remember that you were a slave in the land of Egypt, and Jehovah your God redeemed you. Therefore I command you this today!

Deuteronomy 31:10-11

Moses commanded them: At the end of every seven years, at the time of the year of remission of debts, at the Feast of Booths, when all Israel comes to appear before Jehovah your God at the place he will choose, you shall read this Law in front of all Israel in their hearing.

Exodus 21:2

When you buy a Hebrew slave he will be your slave for six years. In the seventh year he may leave as a free man without paying for his freedom.

Jeremiah 34:14

Every seven years each of you must free any Hebrews who sold themselves to you. When they have served you for six years, you must set them free. But your ancestors refused to obey me or listen to me.

Nehemiah 10:31

If the peoples of the lands come to do trade in goods or food on the Sabbath day, that we would do no trade with them on the Sabbath or on a holy day. In the seventh year we would take no payment from any debtor.

Ezekiel 46:17

Suppose the prince offers a gift from his property to one of his servants. The gift will belong to the servant only until the year of freedom. Then the gift will go back to the prince. Only his sons can inherit his property.

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