Overview
In biblical times, a pledge (or pawn) was collateral offered to secure a loan or guarantee a promise. God's law carefully regulated this practice to prevent exploitation of the poor. The pledged item had to be returned to its owner, especially if it was essential for daily survival like a garment or bedding.
Key Scriptures
"If you lend money to one of my people among you who is needy, do not treat it like a business deal; charge no interest" (Exodus 22:25, NIV). "Do not take a pair of millstones—not even the upper one—as security for a debt, because that would be taking a person's livelihood as security" (Deuteronomy 24:6, NIV). "When you make a vow to the Lord your God, do not be slow to pay it, for the Lord your God will certainly demand it of you and you will be guilty of sin" (Deuteronomy 23:21, NIV).
Application
Christians should honor their commitments and treat others with compassion, never taking advantage of the vulnerable through harsh lending practices.