Thou hast ascended on high,
thou hast led captivity captive: thou hast received gifts for
men; yea, for the rebellious also, that the LORD God might
dwell among them. (Psalm 68:18)
But unto every one of us is given grace according to the measure
of the gift of Christ.
Wherefore he saith, When he ascended up on high, he led captivity
captive, and gave gifts unto men. (Ephesians
4:7-8)
The above two passages are used to support the idea that the Lord
Jesus Christ went to "paradise" or "Abraham's bosom" upon His
death on the cross and freed the people held there awaiting His
death as they are now justified and can enter heaven. The
statement made is that the Old Testament saints had to wait there
for Christ to be sacrificed so they could be made righteous and
enter heaven.
However, as can be seen by the previous exposition concerning
God's veracity and promises, this explanation cannot possibly
stand the test of true Scriptural reason. For this to be the
case, it would mean that there existed some question in the mind
of God concerning the accomplishment of the atonement upon the
cross by the Lord Jesus Christ.
However, let's look at what the verses are addressing since the
main article demonstrates that the Old Testament saints were
never in any "holding tank."
To begin with, the only spiritual thing that is ever described as
being a prison in which one could be held captive — is sin.
In John, chapter eight, we are given the following by the Lord
Jesus Christ:
Jesus answered
them, Verily, verily, I say unto you, Whosoever committeth sin is
the servant of sin. (John 8:34)
This is reinforced in the letter to the Galatians, in which the
apostle Paul plainly states that we all, when we are (or were)
lost, we were in bondage to the elements of the world, or the
law, of which the strength of sin is the law.
Even so we, when
we were children, were in bondage under the elements of the
world: But when the fulness of the time was come, God sent forth
his Son, made of a woman, made under the law, To redeem them that
were under the law, that we might receive the adoption of sons.
(Galatians 4:3-5)
Now, we do see plainly in the Scripture, that there is one who is
all about sin. In fact, he is the author of sin. 
Moreover, he delights in the fact that people sin and
rebel against God. This individual is Satan, or the Devil. In
Isaiah, chapter 14, we see that it is Satan who is a captor. In
speaking of Satan's judgement, the Lord tells us that part of His
condemnation of the Devil, is the fact that Satan is unwilling to
allow anyone to be free from sin and its devastating effects.
They that see thee shall
narrowly look upon thee, and consider thee, saying,
Is this the man that made the earth to tremble, that did
shake kingdoms; That made the world as a wilderness, and
destroyed the cities thereof; that opened not the house of
his prisoners? (Isaiah 14:16-17)
Thus it is evident that the captives in the prison are those who
are dead in their sins and iniquities. Captivity then, would be
sin and its ability to hold one in bondage. This is, of course,
what the Scripture teaches about sin and its effects. The Lord
Jesus Christ, by His work on the cross, gave all those who trust
in Him freedom from sin and its ability to hold one in slavery.
This is confirmed by I John 3:9, which states: Whosoever is born of God
doth not commit sin; for his seed remaineth in him: and he cannot
sin, because he is born of God. (I John 3:9)
And again in II Corinthians: Now the Lord is that Spirit:
and where the Spirit of the Lord is, there is
liberty. (II Corinthians 3:17)
And finally, the Lord Jesus Himself told the Jews in John 8:36:
If the Son
therefore shall make you free, ye shall be free
indeed.
All of which plainly states that the Lord Jesus Christ took the
captivity of sin, captive, destroying its power. Along with the
destruction of sin's power to enslave, He destroyed the effects
of sin, which are death and Hell.
Finis