Colossians 2:14 -having canceled the charge of our legal indebtedness, which stood against us and condemned us; he has taken it away, nailing it to the cross. NIV
I thank God for Jesus! Knowing that the penalty for my sins, death, has been paid in full with His death, and that I am free of that debt, is great news! We used to sing a song years ago:
He paid a debt, He did not owe.
I owed a debt, I could not pay.
I needed someone to wash my sins away!
And now I sing, a brand new song, amazing grace!
Christ Jesus paid a debt that I could never pay!
Yes! Jesus “canceled the charge of our legal indebtedness, which stood against us and condemned us,…nailing it to the cross. We are free of that if He is our Lord and Savior! A great place to shout, “Glory!”
If that was the only debt that He had canceled, it would be enough, but we serve the God of abundance and there is more debt cancellations in our future!
In Exodus 11 the children of Israel are given instructions from God. Verse 2 states that God told them to borrow from their neighbors jewels of silver and jewels of gold. Notice the word “borrow” was used, not the word “ask”. Now we know that they had an abundance of silver and gold when they left Egypt because they melted some of it and made a golden calf, and another time they gave so much for the construction of the temple that they were told to stop giving. So they left Egypt with quite a lot of gold and silver.
Then in Exodus 14 the Egyptians pursued the Israelites as they crossed the Red Sea. When the waters were released and drowned them, the debt was canceled. God said that they would not see the Egyptians again. So therefore, the debt could not and would not be paid! He canceled their financial debt and the gold and silver and jewels were theirs with no strings attached!
The most amazing memory I have of debt cancelation is the first time God did that for us. We were having our second child. We did not have health insurance for a number of reasons. So in order to take care of the finances for having a baby, we paid in advance throughout the pregnancy. On the day of her birth I had to have a C-section, and she was placed in neonatal icu.
This was heartbreaking for us as parents to watch our child be placed in nicu for obvious reasons, but the costs associated with this, knowing that we didn’t have insurance was a real concern. My husband said that he needed a stress test at that point. So we are now concerned about her life and our finances. But God spoke to my husband from Philippians 4:6-7- “Be anxious for nothing, but in every thing by prayer and supplication, with thanksgiving, let your requests be made known to God; and the peace of God, which surpasses all understanding will guard your hearts and minds through Christ Jesus.”
Someone from the hospital visited us and told us of a way to have the bills picked up through Medicare and even told us that all the money we had already paid would be returned to us. When we shared this with a person in the medical field, they said it wouldn’t happen; but I want you to know it happened! We had all of our money given back to us and the debt was paid, canceling our need to pay it. Wonderful, wonderful Savior!!
Over the years I have heard so many wonderful testimonies about debt cancellations. Our congregation received hundreds of thousands of dollars to pay off our church! It does happen! The question is not, “Is this for real?” The question is, “Can you believe it is biblical, and can you believe He will do it for you?” He is still cancelling debt! Does this mean I get to go out and buy a Porsche I know I can’t afford and tell God to pay for it? Don’t be ridiculous! But when you find yourself in a state of overwhelming debt, you can ask for His assistance! I’ve seen Him provide the funds when payment time came and I have seen Him cancel debt. He is still saying, “Be it done unto you according to your faith! Wonderful Jesus!
