The Bible does not condemn a person getting into debt. However, it contains warnings concerning it. Scripture recognizes its potential dangers. Far too many people get unwise in relation to debt. They don't know how to handle it wisely. Furthermore, debt could be habit-forming.
When the Bible says "Owe nothing to anyone..." (RO 13:8) it means to pay one's debt as it becomes due and demandable. It does not refer to an absolute across-the-board prohibition about getting into debt. If debt is sinful and wrong then so does lending. But lending in Scripture is not prohibited.
De 24:10 "When you lend your brother anything, you shall not go into his house to get his pledge.
11 "You shall stand outside, and the man to whom you lend shall bring the pledge out to you.
Since lending in Scripture is not prohibited then getting into debt could not be viewed as sinful. And so, again, when the Bible says "Owe nothing to anyone..." (RO 13:8) it means to pay one's debt as it becomes due and demandable. It does not refer to an absolute across-the-board prohibition about getting into debt since the lending of one which leads to debt in another is not frowned upon by Scripture.
Realize, however, that getting into debt is akin to a slave-master relationship.
PR 22:7 The rich rules over the poor, And the borrower becomes the lender’s slave.
Though such a state is not viewed as sinful, it is not viewed as the ideal in Scripture.
DT 28:12 “The LORD will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow.
I have seen the flood of tears in many people's eyes concerning the financial ruin that they have brought upon themselves because of debt. It is my opinion that unless getting into debt secures for you a bigger and reliable financial gain in return as in a good business deal, debt should be avoided, if possible.
