Verse 7
This verse does not forbid borrowing. In Israel the Jews borrowed from one another. The Mosaic Law permitted this but condemned charging other Jews interest (Exodus 22:25; Deuteronomy 23:19; Deuteronomy 28:12; Deuteronomy 28:44), though the Israelites could charge foreigners interest (Deuteronomy 23:20). The New Testament does not forbid borrowing either, though it forbids not paying debts (Romans 13:6-8). It may be unwise to go into debt in some situations, but it is going too far to say that the Bible condemns going into debt.
"While a certain amount of honest debt is expected in today’s world, and everybody wants to achieve a good credit rating, we must be careful not to mistake presumption for faith. As the familiar adage puts it, ’When your outgo exceeds your income, then your upkeep is your downfall.’" [Note: Wiersbe, p. 93.]
This verse warns the borrower that he puts himself in a vulnerable position by borrowing. He becomes dependent on another or others by borrowing. An unscrupulous lender might take advantage of him. Most lenders will not take unfair advantage of someone who borrows from them, but the borrower should be aware of this possibility.
"The verse may be referring to the apparently common practice of Israelites selling themselves into slavery to pay off debts (see Exodus 21:2-7). It is not appreciably different from the modern debtor who is working to pay off bills." [Note: Ross, p. 1062.]
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