FAQ: Biblical References

What Does The Bible Say About Bankruptcy?
Biblical References about bankruptcy.

NC Bankruptcy Lawyer in Charlotte North Carolina for Chapter 7 / Chapter 13

There are many moral and ethical considerations in the decision to file for bankruptcy.
It is true that you should pay your debts if you are able, and many people feel that their faith discourages using bankruptcy to avoid payment of debts. This isn't just something that affects only Christians. Most religions teach the importance of keeping your word and paying your debts, but most religions also believe in forgiveness. Most religions teach that to honor, value, and provide a safe home for family, is among of the highest priorities a person has.
I don't know of anywhere in the Bible that says that you should put payment of creditors ahead of providing for your family. Credit cards and the lending practices of modern day creditors didn't exist when the Bible was written, so one must try to imagine how the Bible and other religious teachings would have commented on how we live today. The Bible does have references which would lead me to the conclusion that since there is room in the Christian and Jewish faiths to allow for forgiveness, that forgiveness of debts is also to be considered.

"At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the Lord's release." Deuteronomy 15:1.

This release from perpetual debt is called the Year of Jubilee. Leviticus 25:13.

Furthermore, the charging of interest itself was shunned. "You shall not charge interest to your brother--interest on money or food or anything that is lent out at interest." Deuteronomy 23:19.

"If there is a poor man among your brothers . . . do not be hardhearted or tightfisted toward your poor brother. Rather be open-handed and freely lend him whatever he needs. Be careful not to harbor this wicked thought: ‘The seventh year, the year for canceling debts, is near,’ so that you show ill toward your needy brother and give him nothing. He may then appeal to the LORD against you, and you will be found guilty of sin. Give generously to him and do so without a grudging heart; then because of this the LORD your God will bless you in all your work and in everything you put your hands to.” Deuteronomy 15:7-10

1701 Scott Avenue Charlotte North Carolina 28203
phone: 704 / 377-0776
fax: 704 / 377-0775
DISCLAIMER: This message is intended as a general discussion of legal issues and not as a statement of fact, legal advice or a legal opinion. Personal opinions may also be expressed. No attorney-client relationship is created by this message. Do not act or rely upon law-related information in this communication without seeking the advice of an attorney licensed to practice in the relevant area.

The Law Office of Susanne M. Robicsek is
a Federally Designated Debt Relief Agency
under the Bankruptcy Code.
I file bankruptcy cases for people in financial need,
and have been doing so since 1989.

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
Susanne Robicsek Copyright 2008

Charlotte NC Bankruptcy Lawyer Concentrating In Consumer Bankruptcy Since 1988
Copyright 2000 - 2017

Page copy protected against web site content infringement by Copyscape