THE CREDIT SYNDROME


The World, the Word & You! Broadcast
Commentary by Dennis L. Finnan

MILLIONS OF AMERICANS TODAY ARE IN BONDAGE! THE BONDAGE OF FINANCIAL CHAINS ¾ AND THE HOPE OF BEING RELEASED IS ALMOST NON-EXISTENT!

I’m Dennis Finnan, host and speaker on the WWY Broadcast and in a moment we’ll talk about the "CREDIT SYNDROME!"…

… Hello listening friends and welcome to the World, the Word & You! Broadcast featuring thirty minutes of biblical commentary on our times, coupled with a mix of delightful Christian music for your broadcast day. I'm Dennis Finnan, host and speaker coming your way today, on this fine station. Our program is sponsored by the kind care and prayers of our many listeners and friends of the broadcast... We want to say thank you to all whom God moves to join our family of caregivers who keep us on the air in communities like yours. This year 2000, marks a special time for us ¾ it is our 20th anniversary! Yes, for twenty years from 1980 to today, we've been on the air preaching and proclaiming the GOOD NEWS Gospel by delivering it through practical illustrations and commentary for the every day hearer across the nation and world.

We are thankful for the many that have written to us and responded to God's Word, and enabled us to help them along life's way. It is our continued prayer that the Lord Jesus Christ will continue to use this outreach to win the hearts of many more in this new millennium, until He comes in glory!

Well friends, I've got a very interesting and I think practical message and talk for you to hear today. I want to encourage you at the end of the broadcast to get a copy of it and share it with a friend. For everyone knows someone, perhaps yourself even, who needs to hear and respond to today's talk. But first, let's pause and listen to this enjoyable sound of music, then I'll return with today's message ¾ THE CREDIT SYNDROME!…

…Let's take a test! I know some of you hate tests, but this one no one will know your answer, except YOU! Are you ready? Here are seven questions about your financial life.

DO YOU….

IF YOU'VE ANSWERED "YES" to any of these questions, you are headed for financial trouble! So states the "American Consumer Credit Counseling" agency of Waltham, MA.

These danger signs unfortunately are not uncommon but today are rather all too common among American households. In fact here are the latest statistics on credit and debt of the American people as we've entered the 21st century. [1]

WOW! That is terrible, isn't it? Yet those are the facts, and it tells a serious and dangerous story for most American families, and in another moment, I'll lay out a practical and biblical plan for what to do about it. Stay tuned…

Well, friend, I've got good news for you. There is an answer to this national epidemic, but to find it you'll have to go to God, the Creator, and learn what He has to say about it. Moreover, then you'll have to make some tough life choices and follow Him. But one thing I can guarantee you ¾ if you do follow Him, you will in time be released from this crushing bondage and its insatiable desires that burn in your soul. So let's get on with it now.

We must first admit it, the vast majority of people in this nation are truly "enslaved" to their debts. Such people are in real, true and dangerous financial bondage. Just how bad is this for our personal and national future? Well to understand this we must learn some facts and teaching from the Creator of all things, who has spoken on this issue of lending, borrowing and credit. You'll be amazed to hear what God has to say about it. However, what may be more amazing is

What you must do about it to be released and set free… Let's begin with some questions and answers…

QUESTION: " What is wealth?" The usual historical answer is ownership and control of material goods and possessions. However, wealth is also related to our creative ability and our credit or borrowing ability ¾ the trust others have in us. So wealth then can be an extension of our personalities. But in God's definition, wealth is what we have by His creative ability, and what we do with it while here on earth. Here's a second question,

QUESTION: "What is debt or bondage?" Well simply from God's perspective it is when someone has delinquent financial obligations. The operative word is "delinquent" for owing money is not debt, as long as you have (1) the normal ability to repay, and if you become unable, you have (2) the assets to pay it off. One of the most common causes of financial bondage is the ABUSE of CREDIT! The Bible says,

Prov 22:7 (NLT) "Just as the rich rule the poor, so the borrower is servant to the lender."

This of course sets the standard of God's attitude toward debt as I've just described. When someone borrows beyond his/her assets and normal ability to repay ¾ they has crossed the line and broken God's law for relationships between God and man. For you see when people do this, it is usually because of some underlying and sinful reasons. Among them are ¾ greed, lack of self-discipline, covetousness, get-rich-quick schemes, deceitfulness, and irresponsibility. God says,

Prov 21:17 (NLT) "Those who love pleasure become poor; wine and luxury are not the way to riches."

In fact, God has much to say about debts and the wrong use of them. For instance,

Psa 37:21 (NLT) "The wicked borrow and never repay, but the godly are generous givers."

Luke 12:15 (NLT) "Then he said, "Beware! Don’t be greedy for what you don’t have. Real life is not measured by how much we own.""

Luke 14:28 (NLT) ""But don’t begin until you count the cost. For who would begin construction of a building without first getting estimates and then checking to see if there is enough money to pay the bills?"

1 Tim 5:8 (NLT) "But those who won’t care for their own relatives, especially those living in the same household, have denied what we believe. Such people are worse than unbelievers."

Rom 13:8 (NLT) "Pay all your debts, except the debt of love for others. You can never finish paying that! If you love your neighbor, you will fulfill all the requirements of God’s law."

Indeed, there is much more God has to say, but suffice it to say this surely lets us know the Biblical discouragement for not getting into debt. There are two primary dangers of engaging in debt. (1) Debt presumes upon the future which we have no control of. Again, the Bible says,

James 4:13-17 (NLT) "Look here, you people who say, "Today or tomorrow we are going to a certain town and will stay there a year. We will do business there and make a profit." 14 How do you know what will happen tomorrow? For your life is like the morning fog—it’s here a little while, then it’s gone. 15 What you ought to say is, "If the Lord wants us to, we will live and do this or that." 16 Otherwise you will be boasting about your own plans, and all such boasting is evil. 17 Remember, it is sin to know what you ought to do and then not do it."

Then (2) It may deny God the opportunities He provides to work for His glory. Yes, money entanglements are often demonic entrapments created by Satan to keep God's children out of God's service. I must confess this was my sin as a new believer. Like many in the early 70's as a young family man and businessman ¾ I got entangled in the "credit syndrome." Oh yes, I was able to pay my monthly credit bills, but only as I worked overtime, and moonlighted to stay afloat. I recklessly purchased everything my heart desired. A newer and bigger home, flashy motorcycles, the latest and most expensive photography equipment, recreational toys ¾ you name it. I candidly confess, I was enslaved to debt!

But then God saved me from my sins and put me on the path to serve Him. However, I realized I could not serve God in ministry until my debts were paid in full. It took me quite a few years of very hard work and struggle ¾ but before I left for full time service to the Lord, together we paid off every debt!

Now I was, before I was saved, like most people. I blamed everyone else for my problems. But when I came under God's authority, I realized it was my own greed, and lust for things, my indiscipline and self-indulgence that brought me into the bondage of financial slavery! Yes, I came to understand that my happiness, joy and contentment was not to be found directly in the possession of things, but in the possession of God Himself in my heart and soul. The Bible says,

Prov 15:16 (NLT) "It is better to have little with fear for the LORD than to have great treasure with turmoil."

How true I found that to be, and many others can verify this. But now enough of my confessions. How about you? Chances are you who are listening are either in difficult debt yourself, or you know some close to you who are. If so, then my thoughts that follow are for you. Let's begin a plan on how to manage debts out of control! The first thing we must establish is the RIGHT PERSPECTIVE. If you are a Christian listening today, you must first admit…

1. you are a sinner when it comes to the love of money and possessions. You are either on the road to breaking God's law in such area, or you like most have already passed that point and are in trouble! Hear God's Word,

Luke 3:14 (NLT) "…be content with your pay.""

1 Tim 6:6 (NLT) "Yet true religion with contentment is great wealth."

God says we are all to be "content" with the situations of life God has allowed us to be in. It is when we "covet" or lust for more, that we get into trouble. Unfortunately, we live in a debt driven economy (a calculated system that favors the creditor by the way). This is where our society encourages debt, even perpetual debt by catering to the "I must have it now," and " I deserve that.." hedonism that has permeated most Americans, Christian or not! Thus, the debtor falls into perpetual economic slavery to the lender. Moses warned of the consequences of allowing yourself to fall into this,

Deu 28:43-44 (NLT) "The foreigners living among you will become stronger and stronger, while you become weaker and weaker. 44 They will lend money to you, not you to them. They will be the head, and you will be the tail!"

Just how bad is it for most Americans? Since the average balance on a single credit card in America is $ 7000.00 - 8000.00, and let’s say you make the minimum monthly payment at 18% interest. It will take you on an $ 8000.00 balance, 25 YEARS, 7 MONTHS to pay off the debt! Mind you, you will also have paid $ 15,432.00 in interest charges ( almost twice the balance!) reducing your total earnings and future assets by $ 23,432.00 And, remember, most families have an average of 10 credit cards!

How said it is that millions of Americans are in such servitude, bondage and financial slavery. How does this affect them? Dr. Timothy D. Foster, Ph.D a leading family psychologist says, " of 80% of all divorces, finances are a part of the cause!"[2] So, number one is confess the fact that your out of control credit spending is sin. Now number two, you must begin to…

2. LIVE WITHIN YOUR MEANS & STOP BORROWING ALTOGETHER! - As we quoted from God's Word, be content with what you have and your life's situations. Remember, God is in control of every life, and it is He who gives wealth and takes it away. So we must trust that God only means good for us regardless of the circumstance and consequences. Of course, most often when it comes to financial crises, it is caused by us, and the only way out of it is to PAY IT BACK!
If you are in debt over your head, and it has become a daily problem that is cutting into your heart and home, you need HELP! The first thing you must do is "CUT UP ALL CREDIT CARDS!" and "CANCEL ALL LOAN AVAILABILITY!" Credit card debt is a national epidemic. I myself must confess I personally discipline myself not to have a credit card. It's too much of a temptation in our debt encouraging society! Rather I maintain a debit card on my checking account so I can if necessary purchase necessary items without a paper check. It was only when I showed God I meant business, and cut up those cards, did I take the first step to get out of debt. The second step is also important. Go get help! I suggest if you are a Christian to go to your pastor and seek help and guidance. Most godly servants of the Lord will direct you to a reputable credit counseling service, that will help you manage your debt and strike a plan satisfactory to your creditors and your earning power to get the debts paid off.
But as a Christian, make sure they include in your budget and bills the fact that you honor God with your income and set aside a reasonable sum of your "first fruits" of your income to give back to God! Every believer must be involved in giving "back" to God. In the Old Testament the tithe God expected from Israel came to over 20% of the believer’s income. I believe in the New Testament God has not established any giving ratios, but certainly the Old Testament teachings set a principle to begin with. Remember this my friend,

Jesus Himself said,

Luke 6:38 (NLT) "If you give, you will receive. Your gift will return to you in full measure, pressed down, shaken together to make room for more, and running over. Whatever measure you use in giving—large or small—it will be used to measure what is given back to you.""

This is a major principle of getting out of debt. Give back to God what is due in gratitude to Him.

Now once you get your debts in financial control. Then,

3. SET LONG AND SHORT-TERM GOALS - There is an old saying "People don't plan to fail, the simply fail to plan." Here's an encouragement. If you didn't have your credit card payment of say $ 218 a month for that new car lease, or digital TV entertainment system, and instead you invested that money in a 12% savings plan, you could retire in 25 years with $ 1,354,930! Your credit card payments not only cost you misery today, but YOUR FUTURE TOMORROW!
So today ¾ set long and short-term goals. Try to establish a plan for your future, for getting ahead, improving yourself and situation and for emergencies, for illness, and then plan to work towards it each week or month. Yes it will take discipline but God encourages planning for the future.

Prov 16:3 (NLT) "Commit your work to the LORD, and then your plans will succeed."
Prov 13:11 (NLT) "Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows."

Mat 25:20-21 (NLT) "The servant to whom he had entrusted the five bags of gold said, ‘Sir, you gave me five bags of gold to invest, and I have doubled the amount.’ 21 The master was full of praise. ‘Well done, my good and faithful servant. You have been faithful in handling this small amount, so now I will give you many more responsibilities. Let’s celebrate together!’"

These verses tell us that if we make long and short-term plans, within God's permissive will for us, He will work out the details of it. This might include furthering your education for a better job. Moving to a new location where expenses might be lower. Selling that expensive car, or pleasure vehicles or even home. I don’t know how God can do it, but He can rework your life to help you plan a future that is pleasing to the Lord. Then, we are to remember to stay within these bounds. Daily I too have to confess my sinful nature is to desire to HAVE things, often unnecessary. I must ask myself when I face a purchase: " Is it necessary? Can I do without it? Does it add to my family relationships? Will it depreciate quickly, Will it require costly upkeep? Do I have God's permission to buy it?" If I can get though that stopgap measure and maze of soul reflecting - then it may be right to purchase something. In summary of this ¾ NEVER make QUICK DECISION PURCHASES. Almost always they will be regretted. God's Word gives advice,

Prov 21:5 (NLT) "Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty."

In addition, I must remember God is in control of my life. If I do not see an increase in my income, I must not complain but know God has allowed it. I often remind myself,

Eph 5:5 (NLT) "You can be sure that no … greedy person will inherit the Kingdom of Christ and of God. For a greedy person is really an idolater who worships the things of this world."

Along with this I must often discipline myself to SACRIFICE DESIRES! You see God equates a commitment to riches and possessions as a primary purpose of life as sin. Now let me say it is not wrong to be wealthy. There are many wealthy people who are in God's perfect will. But, poverty is not godliness either! There are many in poverty who are lustful, greedy, and filled with a spirit of sinful desires! Well lastly, in how to get out of debt and stay out is to…

4. BEGIN SAVING & INVESTING FOR YOUR FUTURE ¾ The Bible affirms the work ethic but also the thrift ethic too! If we work hard, save well and invest prudently ¾ God will give us a measure of success!

Prov 12:11 (NLT) "Hard work means prosperity; only fools idle away their time."

Remember, those Puritans who followed God, well they were right! Remember also, if you save beginning at age 25 a $1,000 dollars a year ($ 2.74 day), you will be a millionaire 40 years later! This will provide for your old age and also an inheritance for your children.

However, in all this we must not miss what is most important. The greatest investment we can make is not in blue chip stocks, or government tax-free bonds. The greatest investment that pays the highest and most secure dividends for now and the future, is to invest your life and soul in the heart of God.

Mat 6:33-34 (NIV) "But seek first [God’s] kingdom and his righteousness, and all these things will be given to you as well. 34 Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own."

God’s kingdom, friend, begins with knowing and receiving Jesus Christ into the heart and life. Remember I told you about my horrendous debts of the early 70's? My debts and the fears it brought me drove me to seek a solution. I found the beginning of that solution in Jesus Christ. I learned clearly that I was a sinner and was unable to rescue myself from present indebtedness, but also eternal indebtedness. The bible says to all humanity,

Rom 3:23 (NLT) "For all have sinned; all fall short of God’s glorious standard."

Rom 6:23 (NLT) "For the wages of sin is death, but the free gift of God is eternal life through Christ Jesus our Lord."

We all have a sin debt, that unfortunately none of us can pay for, without our soul’s damnation in eternity. Yet God solved this problem by coming to our rescue. The GOOD NEWS of the Bible is God paid the indebtedness of every sinner on the cross at Calvary. When Jesus Christ died, His very last words from the cross were "THE DEBT IS PAID!" Did you know that? Yes it says in,

John 19:30 (NLT) "When Jesus had tasted it, he said, "It is finished!" Then he bowed his head and gave up his spirit."

The phrase often translated "it is finished," is one single Greek word "tetelastai." It was often used in the commercial marketplace and spoken when a deal was completed, or a price arrived at in any purchase. God the Son, Jesus Christ our Savior said before GOD the father, The sin debt of every human being is paid for by Christ's substitutionary death on the cross, as God had planned. But now all that necessary for us to receive it is, "accept" it, by believing in Jesus Christ. What does it mean to believe? Listen,

Rom 10:9-10 (NLT) "For if you confess with your mouth that Jesus is Lord and believe in your heart that God raised him from the dead, you will be saved. 10 For it is by believing in your heart that you are made right with God, and it is by confessing with your mouth that you are saved."

Almost thirty years ago, while driving in my car I heard a message similar to this. I pulled over to the side of the road and bowed my head and cried out in my heart. "Oh God, I'm in debt and I need help. Now I know of a greater debt than my earthy woes. I'm in debt for the sin in my life. But LORD you've said in your Word, that if I take Jesus as my Savior and crown Him the Lord of my life ¾ you will forgive my sin debt and grant me a clean slate now and forever. Oh God, I accept Jesus into my life. I give Him the right and authority to rule my life from this day forward. I believe now in Jesus and accept His gift of full forgiveness, and eternal life you offer."

Friend, I still remember the inner joy, the peace, the contentment, the fullness and satisfaction of life I had NEVER experienced before! It was mine that day, and the good news is I've never lost it, nor has any other believer in Christ.

Alas, time is running out... Friend, turn your financial woes over to God, and then follow these simple principles, and in time you too will emerge from the CREDIT SYNDROME and enjoy the peace of a godly life. May such blessing be yours today for Jesus sake. Amen.

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[1] "Consumer Information on Credit Card Stats," by the American Consumer Credit Counseling, Inc. 24 Crescent Street - Waltham, MA 02453

[2] "Handbook of Christian Counseling," by Dr. Timothy D. Foster, Ph.D. Copyright 1995, Thomas Nelson Publishers, Nashville, TN.

The World, the Word & You! Broadcast is a non-denominational ministry based on the historic fundamental evangelical interpretation of the Scriptures. A copy of our doctrinal statement is available upon request. These weekly radio commentaries are not exhaustive studies of any particular subject due to the time limit of broadcasting. Actual broadcasts can be heard in selected areas around the nation, as funding provides. Dennis Finnan has been the speaker for over 18 years, and serves as General Director.

These transcripts are available free of charge to all who desire them. Also available are actual radio cassette tapes and printed booklets of each message. A free listing of recent messages is available upon request also.

For further information, reprints, or a listing of all topics, please write to our speaker, Dennis L. Finnan(dennis@wwy.org),or visit our webpage at http://www.wwy.org/