Debts are of two types.
1. Legitimate debt : Real need and you need money
2. Sinful dept : Borrowing money at excessive interest etc.
a. Romans 13:8
Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.
Make plans to return all debts.
b. Psalm 37:21
The wicked borrow and do not repay, but the righteous give generously;
If you don't pay back you are wicked.
c. Matthew 5:37
Simply let your 'Yes' be 'Yes,' and your 'No,' 'No'; anything beyond this comes from the evil one.
If you promise to give on a certain time be sure to make it happen. When you use other's property be responsible. If damages come you must see it.
d. Proverbs 11:15
He who puts up security for another will surely suffer, but whoever refuses to strike hands in pledge is safe.
Don't be emotional and then try to give security for your friends.
e. Proverbs 22:26-27
26 Do not be a man who strikes hands in pledge or puts up security for debts;
27 if you lack the means to pay, your very bed will be snatched from under you.
Don't be emotional about giving money.
f. Exodus 22:25-27
25 "If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.
26 If you take your neighbor's cloak as a pledge, return it to him by sunset,
27 because his cloak is the only covering he has for his body. What else will he sleep in? When he cries out to me, I will hear, for I am compassionate.
No interest amount brothers.
g. Deuteronomy 15:7-8
7 If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother.
8 Rather be openhanded and freely lend him whatever he needs.
This is for a poor brother. Real poor brothers need help.
h. Luke 6:34-36
34 And if you lend to those from whom you expect repayment, what credit is that to you? Even 'sinners' lend to 'sinners,' expecting to be repaid in full.
35 But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be sons of the Most High, because he is kind to the ungrateful and wicked.
36 Be merciful, just as your Father is merciful.
Don't expect repayment.
i. 2 Thessalonians 3:6-10
6 In the name of the Lord Jesus Christ, we command you, brothers, to keep away from every brother who is idle and does not live according to the teaching you received from us.
7 For you yourselves know how you ought to follow our example. We were not idle when we were with you,
8 nor did we eat anyone's food without paying for it. On the contrary, we worked night and day, laboring and toiling so that we would not be a burden to any of you.
9 We did this, not because we do not have the right to such help, but in order to make ourselves a model for you to follow.
10 For even when we were with you, we gave you this rule: "If a man will not work, he shall not eat."
If a man will not work he shall not eat. Don't lend to the lazy or idle. Don't feed laziness. Be radical about paying debts.
j. Matthew 5:29-30
29 If your right eye causes you to sin, gouge it out and throw it away. It is better for you to lose one part of your body than for your whole body to be thrown into hell.
30 And if your right hand causes you to sin, cut it off and throw it away. It is better for you to lose one part of your body than for your whole body to go into hell.
Be radical in clearing debts.
k. Proverbs 15:22
Plans fail for lack of counsel, but with many advisers they succeed.
To clear debts take advice. Make a plan of how to clear debts.
l. Psalm 127:1-2
1 A song of ascents. Of Solomon. Unless the LORD builds the house, its builders labor in vain. Unless the LORD watches over the city, the watchmen stand guard in vain.
2 In vain you rise early and stay up late, toiling for food to eat-- for he grants sleep to those he loves.
Commit your plans of clearing debts to God.
m. 1 Timothy 6:6-10
6 But godliness with contentment is great gain.
7 For we brought nothing into the world, and we can take nothing out of it.
8 But if we have food and clothing, we will be content with that.
9 People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction.
10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
Another big obstacle is discontentment. Money is not the root cause of evil, but the love of money is the root cause of all the evil. What is your priority? Money or souls?