Bankruptcy's Biblical Roots

The Bible says that people are generally expected to pay their debts. No one would argue against this general proposition. However, this moral and legal obligation to pay just debts must be balanced by such considerations as the need for compassion and the call to cancel debts at reasonable intervals.Your pastor or minister may advise you on the interpretation of Scriptural passages and how they apply to Bankruptcy. The text you may want to read and discuss includes Leviticus 25:39; Deuteronomy 15:1-2; and Proverbs 22:7.

Current bankruptcy laws, like the Biblical provision, allow debtors to keep certain property when they file bankruptcy. This helps provide a fresh start and discourages going back into debt-bondage, allowing them to become more productive members of our community and meaningful contributors to our economy.