Debt, Bankruptcy & The Bible

Nehemiah 10:31b:

"Every seven years we will let our fields rest, and we will cancel all debts."

Most Christians feel an overwhelming duty to pay their debts, even if that means sacrificing basic needs such as food, clothing and shelter. To go bankrupt and to be unable to repay what you promised still carries a stigma that has driven many during this current crisis to even commit suicide in an attempt to escape the shame and of course the burden of debt or bankruptcy. Despite our society's current beliefs, make no mistake, the Bible clearly states that although Christians are required to repay their debts, no one is obligated to repay debts if, through no fault of their own, they become bankrupt.

A matter of fact, in the Bible it is required that debts be forgiven every 7 years.

Deuteronomy 15:1-2:

"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."

As Christians, there is no shame in releasing debts through bankruptcy if you truly cannot repay them.

Topic: Bankruptcy and the bible

.:Bankruptcy Attorney Blog :.