Religion And Bankruptcy: Does Filing For Bankruptcy Go Against The Bible?

Christians and non-Christians alike may have guilt related to filing for bankruptcy. They may be worried that they are “cheating the system,” or taking advantage of the government. Many may simply feel bad that they cannot pay what they owe. Some people even mistakenly think that bankruptcy is not Christian and is not supported in the Bible.

First, and foremost, you should understand that bankruptcy was instated by our forefathers for very good reasons. Even our founding fathers understood that emergencies happen and mistakes happen – and that there needs to be an opportunity for Americans to have the option of a fresh start and a second chance. Bankruptcy is part of federal law, and it has been developed progressively over the years to best serve United States citizens.

Secondly, bankruptcy is supported and discussed in the Bible. In Deuteronomy, the Bible discusses a release of debts by debtors after a seven-year time span – a system similar to the one we have in place today in which a debtor is allowed to file for bankruptcy only every seven years. In addition, another passage explains that debtor should not only be released from their debt after a certain period of time, they should also be released from debt and allowed to keep some of their property so that they are still able to survive. This, again, is reflected in today’s modern bankruptcy laws, in which debtors are allowed to keep some types of their property throughout the process.

Finally, we should remember that the words “bankruptcy” and the word “forgiveness” go hand in hand. Bankruptcy is simply a form of debt forgiveness, and the Bible teaches us to forgive. Christians may know best that parts of our lives are out of our own control, and that there are several reasons that you could be in debt: you could have suffered an emergency, such as a medical diagnosis or accident, or you could have simply made some spending mistakes over time. Either way, our current bankruptcy laws allow debtors to be forgiven and have mercy for those who might have suffered a financial blow.

Do you want to learn more about bankruptcy, and how you can have your debts forgiven? Do your research to find out all the information you need to know to make the right choice for your situation before you talk to any lawyers or bill collectors, and before you sign any forms regarding your debt.

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