Think about what it entailed: If you were 3 years from the 7th year (it was a specific year, not just "end of year 6 after you take out the loan"
the most you'd be loaned was what you'd be expected to reasonably pay back in 3 years.
Want that car loan? You don't qualify for that 36-month loan, only a charity would "loan" you the money. Or how about that 5-year mortgage you'd be able to take out in year 2 of the cycle.
You'd know, as a loaner, that people would game the system. Any loan taken out by people in year 5 or 6 would likely be a gift, because of how long it would take for "justice"--getting back what somebody promised.
Credit cards? In year 7, all balances would go to $0. What credit card would do anything but reduce the limits: This year, you can have $8k on your card. Next year, max of $7k. Year after that, $5.5k. And if you run afoul of the limit, card's locked and you're in court.
That policy works in an agrarian society where most people know most, and wealth is limited--and where an alternative to being deep in debt exists.
You see, the verse in this case was, itself, cherry picked--pulled out of context.
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