There are two definitions for the word REDEEMED, 
and they both describe what Jesus has done for us perfectly:
1. compensate for the faults or bad aspects of (something).
2. gain or regain possession of (something) in exchange for payment.
Thank God that we are REDEEMED. Thank God that Jesus compensated for all of our faults. Thank God that Jesus exchanged His life for ours. He didn’t have to REDEEM us – but He did.
But now, this is what the Lord says— he who created you, Jacob, he who formed you Israel:“Do not fear, for I have redeemed you; I have summoned you by name; you are mine.” -Isaiah 43:1
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