Notice, too, however, how even this secondary indebtedness is described. If you have obligated yourself to re-pay a loan you are in great danger. Do whatever you have to do to quickly get out of the debt you foolishly took upon yourself. He who puts up security for another will surely suffer, but whoever refuses to strike hands in pledge is safe. If you don't have the means to repay the obligation, the creditors must be paid somehow.
Debt is a form of slavery, in principle.
It obligates you financially to another in the same way a servant is obligated to his master. You lose your freedom to control all your economic decisions. Further, the freedom that you lost by virtue of sin and its effects is restored in Christ. It is for freedom that Christ has set us free. You, my brothers, were called to be free.