As in verse 6, the Hebrew here has the form of a rhetorical negative question, which Revised Standard Version retains. The purpose of the question is really to make an emphatic statement, and so Good News Translation translates as a statement and breaks the verse into three sentences.
The word translated debtors in Revised Standard Version means literally “biters.” The word “to bite” also means “to pay interest,” that is, to be a debtor. Here there is a play on the double meaning: those who have paid interest on unjust debts will turn and “bite” those who oppressed them, that is, take vengeance on them.
A number of versions (Jerusalem Bible, New American Bible, New English Bible, Good News Translation, New Jerusalem Bible, Traduction œcuménique de la Bible, Bible en français courant) interpret “biters” as “creditors” rather than “debtors.” This understands “bite” in the financial sense as “receive interest” rather than “pay interest.” Such an understanding fits with the first possible interpretation of “pledges” discussed in verse 6 (see New American Bible and New Jerusalem Bible). However, some versions which take the second interpretation of “pledges” in verse 6 interpret “biters” as “creditors” here (see New English Bible and Good News Translation “you … will be in debt yourselves”). This seems rather inconsistent. Moreover, as Driver points out in his commentary, the verb “to bite” in the tense in which it occurs here means only “to pay interest.” The meaning “to receive interest” would require a different tense, as found for instance in Deuteronomy 23.20. We therefore conclude that “debtors” (as in Revised Standard Version and New International Version) is the more probable meaning here. (See discussion on “debtors” in verse 6.)
Whichever interpretation is adopted, it is very likely that the play on the word “bite” will be lost in other languages. Wordplays can rarely be translated, and their loss has to be accepted. In this case the loss is not a major one, and it is not necessary to include a footnote to explain it.
The word translated suddenly in Revised Standard Version is rendered as “before you know it” in Good News Translation. The rest of the sentence in Good News Translation, “you that have conquered others will be in debt yourselves and be forced to pay interest,” seems to be more expanded than is really necessary. If the interpretation preferred above is accepted, a translation model may be “those whose money you have taken will suddenly stand against you” or “those … will suddenly take vengeance on you.”
In the second clause of Revised Standard Version, the verb awake is parallel with the verb arise in the first clause. One can continue the translation model suggested above as “they will rouse themselves and make you tremble with fear” or “… and cause you to be so afraid that you tremble.” See 1.7 for other ways to translate “tremble with fear.”
The final clause, Then you will be booty for them, is translated in more natural English in Good News Translation as “They will plunder you!” Another possible translation is “They will take your possessions by force” (see Nahum 2.2, 9 for comments on “plunder”).
Quoted with permission from Clark, David J. & Hatton, Howard A. A Handbook on the Book of Habakkuk. (UBS Helps for Translators). New York: UBS, 1989. For this and other handbooks for translators see here .