The newspaper article reported that a Utah businessman had filed for bankruptcy and declared his debts to be $613 billion. It seemed ridiculous! What's more, the man claimed assets of only $7,310. In other words, if all debts were honored, his creditors would receive about one-millionth of a cent on the dollar. There was no way he could begin to pay his debts.

Sometimes I feel that's how I stand with God. Why should I even try to pay the debt of love that I owe Him? The situation seems hopeless. When I consider His demand of perfect righteousness, I feel totally bankrupt and helpless.

But then I remember that my debt has been taken care of. Jesus the Son of God shed His precious blood to pay the infinite price for my countless sins. Now I'm free to pursue a relationship with God that is motivated by gratitude and energized by the power of the Holy Spirit.

This is what Colossians 2 is all about. The law of God has declared us spiritually bankrupt. But our great debt has been completely removed. It has been paid in full by Jesus Christ on the cross of Calvary. We are free. The only thing we owe now is an eternal debt of thanks and praise to our wonderful Lord.  — Mart De Haan