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15 Mighty Prayers for Debt Cancellation

15 Mighty Prayers for Debt Cancellation

Do you know the importance of prayers for debt cancellation?

Millions of individuals around the world are crippled by debt. Many of these debts are in the form of mortgages, car loans, student loans, etc.

The huge financial burdens place a tremendous amount of strain on these individuals draining them of peace and happiness.

The fact is, whether you took money from an individual or bank it has the same effect on your mind. Prayer provides a supernatural way out of debts.

I have used these supernatural prayers for debt cancellation to guide me towards abundance.

How to Prayer for Debt Cancellation.

Powerful proven suggestions to guide your prayer:

  • Approach God with humility and honesty:

Begin your prayer by acknowledging God’s sovereignty and expressing your desire for His guidance and provision. Confess any mistakes or poor financial decisions you may have made that contributed to the debt.

  • Seek forgiveness and extend forgiveness:

Ask God for forgiveness for any financial mistakes or mismanagement. Additionally, extend forgiveness to those who owe you money or may have contributed to your debt burden.

  • Pray for wisdom and guidance:

Seek God’s wisdom and discernment in managing your finances wisely. Ask for clarity in making sound financial decisions and for the discipline to follow through on any necessary lifestyle changes or budget adjustments.

  • Request God’s provision:

Pray for God’s provision to meet your financial needs and for His intervention in your debt situation. Ask Him to provide opportunities for increased income, financial assistance, or debt reduction strategies.

  • Pray for favor and opportunities:

Seek God’s favor in negotiating with creditors, lenders, or financial institutions. Ask for opportunities to resolve debts through negotiation, settlement, or potential assistance programs.

  • Trust in God’s timing:

Remember that God’s timing may be different from our own. Pray for patience and trust in His plan, knowing that He cares for your needs and is working on your behalf.

  • Pray for contentment and gratitude:

Ask God to help you develop contentment and gratitude for what you already have. Pray for a change in mindset and a focus on eternal treasures rather than material possessions.

  • Commit to responsible financial stewardship:

Pledge to practice responsible financial habits, such as budgeting, saving, and avoiding unnecessary debt. Ask for strength and discipline to make the necessary changes and resist temptations that may lead to further debt.

It is extremely important to take practical steps to address your debt, such as seeking financial advice, creating a budget, and exploring debt management strategies. Prayer and practical action will work together as you seek debt cancellation and financial freedom.

Here Are my 15 Mighty Prayers for Debt Cancellation.

Debt Cancellation Confession

My prosperity and abundance are God’s will because I am a coheir with Christ.

Therefore, God makes all grace and favor abound toward me in all earthly blessings, so I have all sufficiency for all things and abound to every good work.

  1. Prayer for Debt Cancellation.

Matthew 6:12 – And forgive us our debts, as we also have forgiven our debtors.

Gracious Heavenly Father, it is never your will for me to be subject to anything or anyone you created because you have ordained me to be a king among men.

Therefore, I cannot be a slave unto another. Your Word tells me that the rich rule over the poor, and the borrower, a slave of the lender.

Dear Lord, at this point, I seem to be a slave to debts, I am tired of coping with debts too, so right now I don’t want to remain a slave to my debts anymore.

As a result, I seek a supernatural debt cancellation intervention, I pray that you make me free from all debts.

Father God, You know that the only enemy I am very afraid of is debt, so I ask that You give me the strength to keep this enemy away from my life.

I also pray that you guide me to a flowing river of wealth that will keep debt, lack, and poverty away.

I pray in Jesus’ Mighty Name. Amen.

  1. Prayer to Become Debt-free.

Phillippians 4:6 Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.

Almighty and Everlasting God, Your Word says that “As You are, so are we.” And I know for sure that You are never indebted to anyone. By this grace, I pray that you will make me debt-free.

Lord, by Your mercy, let there be a supernatural intervention in my financial troubles that will lead to the cancellation of property debt, credit card debt, and all the other debts that I owe.

I pray in the name of Jesus, Amen.

  1. Prayer for Debt Removal.

Deuteronomy 15:1 – At the end of every seven years you shall grant a remission of debts.

Gentle Holy Spirit, thank you for always guiding and making a way for me even in the most difficult times. I have made many financial decisions that I am not proud of.

Please forgive me for these unwise decisions that you never approved of. In repentance, I seek your intervention for debt removal.

I have been managing debts for way too long, on this note I pray that you will remove all the debts that I currently owe. Help me to spend wisely thereafter.

In Jesus’ Name. Amen.

  1. Prayer for Financial Stability And Independence.

Joel 2:18–19 : Then the Lord will be zealous for His land And pity His people. The Lord will answer and say to His people, Behold, I will send you grain and new wine and oil, And you will be satisfied by them; I will no longer make you a reproach among the nations.

Dear Father Lord, thank You for bringing me to the powerful realization that every good idea comes from you, God.

Abba Father, You also know that I cannot be debt-free when I am lacking wisdom in financial affairs. I will not also become financially stable nor gain financial freedom in this state of overwhelming debts and dependency.

On this note, I pray that you teach me the act of wealth creation and managing debt. As you accomplish these in my life, grant me financial stability. Also, grant me the grace to create immeasurable wealth.

In the name of Jesus. Amen.

Also Related: 15 Powerful Prayers for Financial Breakthrough.

  1. Prayer for Making Wise Financial Decisions.

Proverbs 27:12 – The prudent see danger and take refuge, but the simple keep going and suffer for it.

Lord, Please forgive me for my past financial mistakes, and give me great financial wisdom to make wise decisions.

Provide me with the means to create wealth to pay debts that I owe, save me from more debts, and transform my financial struggles into abundance and prosperity.

As I place my life and the whole of my heart in your hand, grant me peace, and abundance, and help me live the rest of my life debt-free. In Jesus’ Name. Amen

  1. Prayer Against Debt And Poverty.

Luke 7:42 – And when they had nothing with which to repay, he freely forgave them both. Tell Me, therefore, which of them will love him more?

Almighty God, The Scripture which is Your Word says, “.. they overcame him by the blood of the lamb, and by the words of their testimonies.”

I pray that You set me free from financial problems, poverty, debts, and financial struggles. Crush the principalities and powers that are sitting on my financial breakthrough or that have chained my wealth and prosperity to a stake.

Your Word says that he that the son has set free, he is free indeed. Therefore, I pray that You deliver me from powers that frustrate efforts and cause failure.

Set me completely free from the spirit of financial poverty and lead me into financial freedom and debt-free life. In Jesus’ Name. Amen

  1. Prayer for Relief from Debt.

Ezekiel 18:7 – if a man does not oppress anyone, but restores to the debtor his pledge, does not commit robbery, but gives his bread to the hungry and covers the naked with clothing.

Lord Jesus, past poor financial decisions, have brought me to a state of deep financial troubles and several accrued debts. I pray that you provide me with debt relief from my major debt through your miraculous power.

And bless me with enough money and wealth to remove all debts, so I will live with peaceful thoughts. Please guide my mind to work on every aspect of my finances that I’m deficient in.

Help me overcome the fear, stress, and anxiety that my debts have produced. I pray in Jesus’ Name. Amen.

  1. Prayer for Deliverance from Financial Troubles.

Psalm 107:41 – He sets the poor on high, far from affliction, and makes their families like a flock.

Dear God, I ask for the forgiveness of the sins I have committed knowingly or unknowingly in the past. Peradventure any of those sins is responsible for all my debts and financial misery.

I pray that You will break all the financial curses playing out against me or my family. Cause any power that has thrown me into debt to lose its hold over my life.

Heavenly Father, I pray these mighty prayers for debt cancellation to raise a standard against every one of them that has been assigned to wreak havoc on my finances and put me in perpetual financial debt.

Henceforth, keep me financially protected and let the ocean of money that will clear every debt away begin to flow into my life.

In the Name of Jesus. Amen.

Also Related: 15 Prayers to Get Out of Debt Fast.

  1. Prayer for Financial Breakthrough.

Psalm 12: 5 – Because the poor are plundered and the needy groan, I will now arise, says the Lord. I will protect them from those who malign them.

Father Lord, thank You for making me understand that one does not get wealthy by hard work alone.

You also made me realize that financial freedom does not come from mere human wisdom or how huge our income is. Instead, You have taught me that a breakthrough in finance only comes through Your grace.

So, dear Lord, I pray that that same grace will rest mightily upon my life. Make financial assistance come through for me in places I least expect so that I will rise above the level of debt.

Above everything else, crown my efforts with bountiful success. In the name of Jesus. Amen.

  1. Prayer for A Debt-free Life.

Romans 13:8 Owe no one anything except to love one another, for he who loves another has fulfilled the law.

Dear God, thank You for being merciful and compassionate to those who call upon You in distress. Father, right now I am in deep distress because of debts.

Hence, I ask that You give Your angels charge over my finance to bring in a bountiful financial harvest that will cause me to experience a debt-free life from today.

Led me to make wise financial decisions so that I will no longer be a debtor, but a creditor. Lord Jesus, Your blessing makes rich and adds no sorrow.

Hence, I ask that you change my life from the status of a borrower to a lender. Redeem me from the curse of poverty and lack and reward me richly through my job or by any means possible.

Multiply my checks and increase me financially and let your blessings overshadow every aspect of my life and finance so that I will not be anxious about debts anymore.

Thank you, dear Lord, for I will have a debt-free life according to Your riches in glory. In the name of Jesus. Amen.

  1. Prayer for Financial Prosperity.

2 Corinthians 8:9 – For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sake, he became poor so that you through his poverty might become rich.

Almighty Father, the giver of prosperity and power to make wealth. I ask that You give me the power to create wealth that will also benefit others.

Speak life over my finances and call in Your harvest into my life that will bring debt cancellation and financial breakthroughs.

So, that I will be about to pay debts accruing monthly in my name. As I pray with scriptures for debt cancellation, grant me favor with money so I can pay all the debt collectors troubling me. In the name of Jesus. Amen.

  1. Prayer for Repayment of Mortgage.

Hebrews 3:4 – For every house is built by someone, but God is the builder of everything.

Precious Holy Spirit, thank You for always making those who ask to receive. Your word says that whatever things I ask when I pray, I should believe, and I will have them.

Therefore, I pray that You will grant a supernatural debt cancellation of my mortgage soon, dear Lord. As I have prayed for debt cancellation of my mortgage, answer me, and grant me speedy answers.

I pray in Jesus’ Name. Amen.

Also Related: 13 Powerful Prayers for Financial Blessing and Restoration.

  1. Prayer for Loan Debts.

Ephesians 4:32 – And be kind to one another, tenderhearted, forgiving one another, even as God in Christ forgave you.

Heavenly Father, thank You for I am confident that You will never allow me to be embarrassed.

I pray that You grant me divine debt cancellation of the student loans that I have not been able to repay. As well as the car loans that I took from work.

Dear Lord Jesus, let there be a debt cancellation agreement that will be in my favor. In Jesus’ Name. Amen.

  1. Prayer for Divine Provision.

2 Corinthians 9:10 Now may He who supplies seed to the sower, and bread for food, supply and multiply the seed you have sown and increase the fruits of your righteousness.

Heavenly Father, You are Jehovah Jireh, my great provider. At this time. Your word says the lions may grow weak and hungry, but those who seek the LORD lack no good thing.

Therefore, Lord, I ask that You hear my prayers for debt cancellation and open the windows of blessings for me. I pray in Jesus’ Name. Amen.

  1. Prayer of Thanks for Divine Debt Cancellation.

Colossians 3:13 – bearing with one another, and forgiving one another, if anyone has a complaint against another; even as Christ forgave you, so you also must do.

Gracious Lord, thank You for You will help me to make wise financial decisions henceforth. Thank You for providing me with divine help with debt cancellation.

I’m grateful for the supernatural intervention on my Debt Cancellation. Lord, I’m also very grateful for your favor, wisdom, and supernatural financial breakthrough.

Thank you for speaking to the mountain of debts and financial troubles in my life. I’m grateful because You are bringing me to a debt-free life now.

Father God, help me to look away from the mountain of debts, and to fix it on you as I trust in your promises that are true and sure.

In the Mighty Name of Jesus. Amen.

Bible Verses for Debt Cancellation.

Here are a five powerful Bible verses that emphasize principles of financial stewardship and can be used to help you with debt cancellation.:

  1. Proverbs 22:7: “The rich rule over the poor, and the borrower is slave to the lender.”
  2. Proverbs 21:20: “In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.”
  3. Proverbs 3:9-10: “Honor the LORD with your wealth, with the first fruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.”
  4. Luke 14:28: “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?”
  5. Matthew 6:19-21: “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”

These Bible verses will help you to develop a mindset of stewardship and making wise financial decisions. You can also, seeking advice from financial professionals and implementing practical strategies that will be beneficial when trying to eliminate debt.


There are instances of debt Cancellation in the Bible as well as debt recovery (if this is your situation).

These scriptures will help you pray debt cancellation and financial breakthrough prayers that will yield miraculous results. Please share these mighty prayers for debt cancellation with your loved ones and friends.

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