Lyrics
Born and unforgiven
Locked in my own prison
Until I heard that Jesus held the key
And through his loving mercy
Although I was unworthy
His nail-scarred hand reached down and rescued me
My debt was paid by the marvelous glorious blood of calvary
All washed away
Every stain was covered by his grace
And since that day
All the chains of sin that did surround me
They all fell away
When I called on his name
Oh praise the Lord
My soul was saved
My debt was paid
When the past reminds me
Of the life I left behind me
And Satan tries to rob me of my peace
That's when I remember
The day I was delivered
My soul sings hallelujah
I am redeemed
My debt was paid by the marvelous glorious blood of calvary
All washed away
Every stain was covered by his grace
And since that day
All the chains of sin that did surround me
They all fell away
When I called on his name
Oh praise the Lord
My soul was saved
My debt was paid
Oh precious is the flow
That makes me white as snow
No other fount I know
Nothing but the Blood of Jesus
My debt was paid by the marvelous glorious blood of calvary
All washed away
Every stain was covered by his grace
And since that day
All the chains of sin that did surround me
They all fell away
When I called on his name
Oh praise the Lord
My soul was saved
They all fell away
When I called on his name
They all fell away
When I called on his name
Oh praise the Lord
My soul was saved
My debt was paid
Video
Meaning & Inspiration
My Debt Was Paid tells a redemption story through the image of an impossible obligation canceled at Calvary. The opening verses portray sin as imprisonment and describe Christ’s mercy reaching someone who could not earn rescue. Its chorus answers guilt with the blood of Jesus, grace that covers every stain, and chains that fall away when His name is called. The language is personal, but the focus remains on Christ’s saving work rather than human merit.
The song closely echoes the New Testament picture of a record of debt being canceled through the cross. It also draws on the biblical teaching that redemption comes through Christ’s precious blood. When memories of the past and accusations threaten peace, the lyric returns to deliverance as a settled reason for praise. The quotation from Nothing but the Blood of Jesus connects the song with classic gospel testimony, reinforcing its message that forgiveness, freedom, and salvation rest in Christ’s sacrifice.
Related Scripture
- Colossians 2:13-14 Paul describes God canceling the record of debt through the cross.
- 1 Peter 1:18-19 The passage identifies Christ’s precious blood as the price of redemption.