What is that certificate of debt that the apostle Paul is talking about in Colossians? The debt he is referring to is our sin. What are the decrees against us? The decrees against us come from the law, which point out our sin. The law shows us where we have failed. It shows us where we are weak. It shows us where we have rebelled against God. And it shows us where we sinned, and never even realized we were sinning.