Biblical Principle #268: Restrictions on Loan Pledges

Biblical Principles List

Principle

The Law of Moses placed restrictions on loan pledges to protect the one in need.

Explanation

GOD gave Moses restrictions for Israel under the Law regarding pledges (collateral) for loans. This was to protect the person who needed the loan, so that they could repay it.

6 “No man shall take the lower or the upper millstone in pledge, for he takes one’s living in pledge.

Deuteronomy 24:6 OSB

10 “If you should lend your neighbor anything, you shall not enter 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.

Deuteronomy 24:10-11 OSB

Biblical Principles List

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