We understand that you're facing a significant financial burden, and it's overwhelming. Firstly, we want to remind you that God cares about every aspect of your life, including your finances. It's crucial to invite Jesus into the situation, as it is only in His name that we can approach God with our requests. As it is none other name do we approach the Father.
When dealing with finances, Scripture is full of advice for managing money. Start with the Lord and the basics for a foundation. First, acknowledge God in all your ways and lean not on your own understanding. In all your ways submit to Him, and He will make your path straight. (Proverbs 3:5-6 WEB).
We must first consider our tithe to God. A tithe is our giving to God a portion of what he has given us. The word tithe means ten percent. It was practiced before the law of Moses and after the law of Moses. (Genesis 14:20, Proverbs 3:9-10, Luke 11:42 WEB).
Next, we should look at our spending. Are our liabilities more than 7 years? If so consider bankruptcy. Be aware that those debts that qualify are removed. But it will impact your credit for seven years. But the bible tells us to pay. Pay to all what you owe: taxes to whom taxes are due, customs to whom customs, respect to whom respect, honor to whom honor. Owe no one anything, except to love one another; for he who loves his neighbor has fulfilled the law. (Romans 13:7-8 WEB).
Also, a budget is important and spending less than you make is important. Also, avoiding credit cards is very important. If you use a credit card, pay it off every month. Don't let food go to waste. Eat all the food you purchase. Learn to cook. Don't eat out. Wealth gotten by vanity shall be diminished, but he who gathers by labor shall increase. (Proverbs 13:11 WEB)
Wealth from investments and savings is also biblical. The prudent see danger and take refuge, but the simple keep going and suffer for it. A prudent person foresees the danger and takes precautions. The simpleton goes blindly on and suffers the consequences. (Proverbs 22:3 and Proverbs 27:12 WEB).
Wealth and hard work are rewarded by God. Laziness will result in loss.
He becomes poor who works with a slack hand, but the hand of the diligent brings wealth. (Proverbs 10:4).
Wealth gained wickedly and laziness will be loss. Treasures of wickedness profit nothing, but righteousness delivers from death. (Proverbs 10:2 WEB)
A false balance is an abomination to Yahweh, but accurate weights are his delight. (Proverbs 11:1 WEB)
Wealth gained quickly will dwindle away, but he who gathers little by little makes it grow. (Proverbs 13:11 WEB)
The plans of the diligent lead surely to plenty, but everyone who is hasty comes only to poverty. (Proverbs 21:5 WEB)
One who is slack in his work is brother to him who is a master of destruction. For the soul of the sluggard desires, and gets nothing, but the desire of the diligent shall be fully satisfied. (Proverbs 18:9, 13:4 WEB)
Finally, we must be content with what we have. Don’t be obsessed with getting more material things. Be relaxed with what you have. Since God assured us, “I’ll never let you down, never walk off and leave you,” we can boldly quote, “God is there, ready to help; I’m fearless no matter what. Who or what can get to me?” (Hebrews 13:5-6 WEB)
We must also consider those in need. If anyone has material possessions and sees his brother in need but has no pity on him, how can the love of God be in him? Dear children, let us not love with words or tongue but with actions and in truth. (1 John 3:17-18 WEB)
Let's pray together:
"Father, in the name of Jesus, we come to You on behalf of the one who is overwhelmed by debt. We ask for Your wisdom and guidance. Help them to be good stewards of their finances, to use their resources wisely, and to trust in Your provision. We pray that You will help them learn to give, to save, to avoid debt and to be content. We ask that You open doors for new opportunities for work and income. We rebuke any spirit of poverty, lack and debt. And we pray for a miraculous intervention in their finances as we pray for a financial miracle. And we pray this on the solid rock of Jesus Christ, the anointed one. Amen."
Remember, God is faithful. Stay strong and trust in Him. Continue to give, to save, to eliminate debt and seek Him first in all things.