We are made alive together with God and our trespasses removed by the fact that He had obliterated them. Paul speaks of the “certificate of debt” (Greek cheirographon) carries the meaning of a note of hand or writing in which one acknowledges that money has either been deposited with him or lent to him by another. He states that this signed bond is dealing with the law (Greek dogma) of Moses. He says that these decrees were an adversary against us. Three things are expressed about this certificate. First, it was written or a literal instrument of debt. This refers to the Decalogue or Ten Commandments which condemn all mankind. Second, it was against us, there was a valid claim that can be made for repayment of the debt. And, third, it was a hostile claim against us, in other words, we are incapable of being able to settle this debt.
Because of this, we were made alive by the canceling of our debt. The Greek word exaleipho (translated canceled here) literally means to wipe out or blot out. This is the explanation of the forgiveness Paul is reminding them about. He emphasizes this teaching by giving three statements about the debt. He said it was blotted out (canceled), it was taken out of the way (Greek airo ek ho mesos), and nailed to the cross. This is a possible allusion to the fact that Christ’s accusation was nailed to the cross over His head. “Jesus nails our accusations to the cross, just as his own accusation had been nailed there.”
Prayer: Thank You, thank You, thank You, Jesus for paying my debt! I acknowledge that I thought I could become right with God on my own. I have learned that what I owe is so much more than I can pay, and I keep compounding the debt. However, You have pait it all! Every last part! I don't owe anything, except my love and obedience to You. Thank You! Amen.
 Thayer, J. (n.d.). Thayer's Greek-English Lexicon of the New Testament. Retrieved February 23, 2017, from StudyLight.Org: http://www.studylight.org/
 W. E. Vine, Merrill F. Unger and William White, Vine's Complete Expository Dictionary of Old and New Testament Words (Nashville, Tennessee: Thomas Nelson, Inc., 1996). Page 71.
 Literally, “to bear away from our midst.”
 Bruce, F. F. The Epistles to the Colossians, to Philemon, and to the Ephesians. Grand Rapids: Eerdman's Publishing Co, 1984. Page 110.