Bankruptcy & The Bible

Let me preface this by saying, while I have been in deep debt, I have never been to the point where I couldn’t pay my bills. I have had some people really close to me go through it and I have seen how scary it can be. Just remember that you always have hope in God. He said that He will never leave you or forsake you – ask Him for help.

What does the Bible say about bankruptcy?

The Bible and Bankruptcy

God’s laws supercede national and local laws. Just because lawyers say it is legal to file bankruptcy doesn’t mean that it is God’s best for us.

Everyone has a unique situation and the decision to file bankruptcy is one that really needs to be prayed about. A lot of people rush into bankruptcy because of it’s convenience.

The Bible doesn’t specifically mention bankruptcy, but it does tell us that we should pay back what we owe…

Psalm 37:21

The wicked borrows and does not pay back, but the righteous is gracious and gives.

Ecclesiastes 5:5

It is better that you should not vow than that you should vow and not pay.

The problem with bankruptcy is that it is the Government who is saying that you are off the hook with your bills. In most cases the businesses that you owe money to probably would still like to collect payment. It is actually doing a great disservice to the companies that you owe money to. Essentially, the borrower/buyer made a promise to pay, but is allowed (via bankruptcy) to break the agreement.

I remember a guitar I sold for $800 and agreed to let the buyer pay me in installments. I ended up only receiving $400 from the buyer only to never see him again. Everyone has stories like these and knows that it’s not fun when someone doesn’t hold up their end of the bargain.

When someone files for bankruptcy, this is basically what is happening to each of the businesses that are expecting payment. While I am sure most of them are credit card companies and other lending institutions, it is not an excuse for not paying them what is owed.

If the businesses themselves forgave the debt, it would be a different story. Realistically, this is rarely the case.

I am drowning in debt and bankruptcy is my only option!

God knows the intentions of man and sees into what is really going on in every situation. He sees the situations where people wind up with $250K in medical debt and whether this person feels okay filing bankruptcy or not, I believe God is looking for opportunities like this to show His Glory.

If you read Hebrews 11, you find many great Godly people who stretched their faith to believe that God could do something that seemed impossible – and God did. But if they had not stretched their faith, they would have never seen the miracle.

God is great at getting us out of tough situations that we get ourselves into or that other people get us into. Ask Him for help and He will not let you down. And be prepared to to fight to get out of debt, because it is going to be a fight. Just because God is helping you doesn’t mean that it is going to be a walk in the park. But you can be assured that if you do it God’s way (even though it may take longer) you will be greatly rewarded! It is worth it.

As far as practical steps I would read articles about getting out of debt, go to the library and read Dave Ramsey’s Total Money Makeover. That book has been a tremendous help to many people who thought that bankruptcy was the only way out.

What about using debt management?

I think the approach you should take is:

  1. Do everything in your power to take care of your debts yourself
  2. If that still isn’t enough, then use a reputable debt management company
  3. And then Bankruptcy should be an absolute last resort

We recently teamed up with a Christian Debt Management company that I checked out (there are some bad apples out there). But I spoke with the CEO (Tom) on the phone and I really like how they operate. They are a not-for-profit organization, have been in business for decades, and have an A+ rating with the BBB as well.

And basically what they do is if you have a lot of unsecured debt (credit cards, medical bills, etc) they will work with you and your lenders to help you get it paid off quicker than you could probably do yourself.

Bottom line: ask God for help and be open to His answer!

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38 Comments
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  1. What about the bankruptcy that requires you to payback your lenders?

    I think that is a worst case scenario and consolidation should be tried first, but sometimes it takes something pretty dramatic to make you change.

  2. @Cross
    Yea, I should have clarified… I think Chapter 7 bankruptcy is the common one where your debts are discharged.

    And I believe it is Chapter 11 and 13 that are more of a “let’s work out a deal to get this paid back.”

    I think the point is to pay the money back. So if it is a Chapter 11 and the money gets paid back to the lender, then in my mind, all is good. I would like to hear other opinions on this issue…

  3. My opinion on the whole subject is this – if you borrow money you should pay it back. Preferrably pay it back as fast as possible.

    As for me and my house we try not to borrow period – we try to save up for things that we want, and only buy them when we have enough! Good way to avoid bankruptcy!

  4. I know a man very close to me who filed bankruptcy over 20 years ago. It was a bad situation. My friend persuaded his parents to take out a mortgage to start a business with a partner. Soon afterward, this “can’t-lose” business starting bleeding money profusely.

    The business partner only covered about 10% of his share of the losses.

    Facing the prospect of losing his parents’ house, he declared bankruptcy. However, his problems did not end there. He had to affirm the loan on his parents house in order to stave off foreclosure. After almost 10 years, he paid off the second mortgage. During that time, he made tremendous sacrifices,reduced his standard of living, and committed the “excess” to paying down the loan.

    The good news out of all this is that during the severe depression he experienced, he realized his need for a saviour and made Jesus the Lord of his life. His life has changed dramatically — financially and otherwise — for the better.

    While he regrets the financial hardship he put his parents through, he does not regret the outcome. His parents are glad that he came into the Kingdom.

    There can be life after bankruptcy. In my friend’s case, it is ETERNAL life!

  5. @BMM
    I agree, that is my plan of attack too…

    @CoolHappy
    You are absolutely right that there is life after bankruptcy, and that reminds me of something I maybe should have added… That just like any other mistakes that happen in our lives (as a result of our actions or someone elses) God fixes and forgives! So the point of the article was meant to be an avoid-this-at-all-costs and not a condemning of those who have done it.

    Oo if someone is feeling shamed or HOPELESS, then it is not from God. God’s mercies are new every morning and there is ALWAYS hope in God!!

  6. Hi Bob,

    I do agree with the fact that people should not get in over their heads. Lets face it, a lot of bankruptcy is brought on by bad choices. Some overwhelming debt is brought on by things out of our hands like severe illness, death of a spouse, ect… There is no easy yes or no answer for these situations.

    In the case of bankruptcy these verses should also 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 15:1-2). This is actually where “Chapter 7″ got its name. There is also the parable of the King who forgave the debts of his servant in Matthew 18. But I think this is the best example of bankruptcy: our own debt being resolved by Christ. Christ paid the ultimate price because we owed a debt we could not pay, so please don’t think that God doesn’t believe in bankruptcy, He invented it.

    Now does this mean that we should run around and file bankruptcy if we don’t really need to? If we can afford to absolve our debts of course we should! It does not give us the right to run around and deliberatley be irresponsible because we can always declare bankruptcy later, just as we don’t go around sinning all day long because we can pray later and ask for forgiveness. However, real problems do require real solutions. And there are real situations that require real bankruptcy.

    **writer apologizes for any misspellings as she relies totally on spellcheck but is too lazy to copy and paste**

    • Thank you Jenn,
      I like the way you put it and the bible verses you chose. God will judge us by the way we love others, not how well we live below our means or manage our finances!

  7. Like anyone wants to take bankruptcy anyway. Just because you file chapter 7 bankruptcy doesn’t mean your money problems all just disappear. Better to avoid bankruptcy at all cost, even if God is okay with it.

  8. I don’t think filing chapter 7 is a sin. The unfailing teaching of both the Old and New Testaments is that compassion, sympathy and fairness are to override purely economic concerns, such as loans.

    The compassion as stated in the Bible, including the setting aside of lawful rights of lenders, was characteristic of economic relationships in the economy of early Judeo-Christian way of life. The central theme is one of stability—an established society with a promise of economic security to each family. Wealth was viewed as a blessing from God (Deuteronomy 8:11-18, 28). This blessing resulted from obedience and was based on God’s compassion. The tithing for the poor, the gleaning laws, the year of the Jubilee, were all tangible ways that Israelites could show compassion for each other and honor God by following His law. Beyond income-maintenance programs, the Biblical Law provided a permanent system—such as the Sabbatical year and Jubilee—to ensure that temporary misfortune barred no family from full participation in economic life.

    As such, I do believe that chapter 7 isn’t necessarily a sin to file for. I’d just say that if someone does this, it should be something they should learn a lesson from, and try to avoid in the future. Nor should it be used as an instrument to escape debts through a scheme to defraud creditors, such as a case I heard of someone who would periodically file for Chapter 7 after running up debts to buy assets that then were put in his wife’s name, which then couldn’t be taken by creditors, at least under the bankruptcy laws of his state.

    So therefore, I can’t say that filing bankruptcy is necessarily a sin in God’s sight. It depends on the circumstances, at least in part. I would maintain that someone should still try to pay something, especially when most credit card debts, etc., aren’t run up to put food on the table and avoid the worst kind of deprivation, which is described in Deuteronomy 15, but for luxuries and “wants,” not “needs.”

    Sam

  9. @Sam
    The compassion, sympathy, and fairness were examples of how God’s people should behave as lenders. They also were not supposed to charge interest on their loans to their bretheren.

    The difference here is that God was talking to the Lenders in this situation. As borrowers we can’t force lenders to obey what the Bible taught, we can only do what the Bible tells us (individually) to do.

    And you are right, there very well could be circumstances where it could be okay. That is between that person and God. But based on on the scriptures I see I think it is pretty clear that He wants us to pay back what we owe.

  10. Gary Hardin

    Your comments about the Bible and Bankruptcy caught my attention. I read the post with eagerness. I appreciate, and agree, with the thoughts you shared. I decided to do a larger Internet search on this issue. Wow, you won’t believe the law firms across the country that have “The Bible and Bankruptcy” on their Web sites. I guess lawyers must get asked about Christians and bankruptcy alot. What I found interesting was the emphasis on these lawyer sites is on Old teachings about the Year of Jubilee and the cancellation of debts. Other law sites focus on Jesus’ words in the Model Prayer, “Forgive us our debts, as we forgive our debtors.” I could go on. Readers might want to do what I did and do an Internet search on the Bible and bankruptcy, and call up a few of these law firm sites and read their articles. It’s food for thought on this issue.

  11. This is a good discussion, but the problem of bankruptcy is usually a result of financial problems that started many years before. The problem of getting into debt in the first place is the root problem and that is what needs to be addressed.

  12. I think this still goes back to the heart of the issue. If someone has gotten into serious trouble sometimes there is no other option than grace, but its silly to make people who really do need to do this feel guilty and say its biblically wrong. Its a misuse of the Word of God. Of course bankruptcy should a last resort, those who misuse bankruptcy irresponsibly are wrong and make no mistake that God does deal with those who do so, however it is just not right to lump everyone in with that crowd…

  13. @Gary
    wow, I didn’t know that… and what they are using as their “selling point” – I don’t think is biblically correct.

    With the year of Jubilee and forgiving of debts it has to be done by the lender. The borrower can’t make that happen – If that was the case, then all of us could walk into our bank and say our house is now paid off because we have had the mortgage 7 years – right?

    I think this whole thing boils down to the fact that forgiveness of the debt has to be GIVEN, not TAKEN. If the lender decides to forgive the debt, then all is cool. But to me, from what I have found, it seems that Bankruptcy is TAKING it rather than receiving the debt forgiveness.

    And again, just to reiterate, I am not talking about God’s forgiveness of this whole thing. I am referring to the lenders involved.

  14. First of all great site and great post! I found this on PFblogs.org. I am in a mountain of debt myself but I have never turned to bankruptcy. ( I thought about it though.)

    Through self-motivation, I managed to pay down $3000 out of $75,000 since April.

    I also recently started going to church. It is interesting to hear the pastor preach about debt. Our church is going to hold some debt management classes in a few weeks. I think I will sign up and see what it has to offer.

  15. What if your only creditor is the government? Technically it “forgives” the debt to itself through bankruptcy.

    In our case, we have an outstanding balance of more than $75,000 with the IRS. Fifty percent of this is penalties and interest (we’ve been trying to work it out with them for nearly 5 years).

    What do you think Bob? Is this a case where the creditor is able to forgive the debt in the way the Bible describes?

  16. Interesting posts and the topic was well explained. One of the reasons the bankruptcy laws were changed recently is that there were too many people who were running up credit cards then filing. My husband and I have no debt at all and I have to tell you it is liberating! It took a while to get here too. It is a lie of the enemy to buy now and pay later…even purchasing a home costs a person three times (at least) the purchase price because of the interest. I realize that most of us couldn’t buy a home in today’s world in cash…not casting any blame here…just a fact about interest. I believe you are giving your word when you borrow and the Lord expects us to fulfill that promise to pay.

  17. If it is biblical then you can’t argue with that. God cancels our debt as stated in Deuteronony 15 1-2. I know that God doesn’t want us feeling depressed and worthless because we get in debt that is a trick of the enemy), especially if it is not due to fault of our own,such as loss of income, loss of spouse…or both!!! I thank God that he is a forgiving God,and none of us are perfect. While bad debt may not be a area that all of us struggle in, there are areas that we ALL need help in. With the economy the way it is with the loss of jobs among other things, if you have been able to keep your house and maintain staying out of debt then that is great,but make sure that you don’t judge those who haven’t because there is only one judge and that is God,and no sin is greater than another or less than another. Bottom line if you are in debt then bankruptcy was given as a law by God to help cancel your debt,and if you aren’t in debt then pray for the ones that are. And always remember that if you are not in debt it is by the grace of God. All it takes is an illness, loss of income, loss of job, or some other misfortune and you too can be faced with financial hardship.
    May God Bless You

  18. i am an ex dancer.during my dancing days i accumulated a lot of debt and a 640.00 a month car payment.i did it fir like 4-5 years.i had a live in boyfriend who didnt care what i did.then this past year and a half,i met someone new.once i met him my desire to dance completely left me.
    i left my old boyfriend.i moved back with my mom.i still danced.but i didnt want to.i knew God was teling me to get out.i was having bad dreams.so knowing i couldnt get a job making what i had made i knew i was going to have to go bankrupt.this past march i quit and i filed bankruptcy last week(ch 7)i have a new parttime job and am being supported by my new bfriend.now i know bankrruptcy isnt good but i wanted to take a step of faith and stop dancing.i wanted a fresh new start.i dont have anything to my name so the money i did make i spent it all.God didnt want me to have any $ from that job and i got into debt because of that job.so im looking at a new start where i tithe every week.Will God honor my decision to go bankrupt?i made poor chioces in my life.like many of us do.i am 31.thank you

    • Jan,
      I am sorry to hear about your situation, but glad to hear that you are moving forward in your walk with God. You don’t need to feel guilty in any way at all – what’s done is done, just keep moving forward and continue growing in your knowledge of God and His principles…

      Romans 8:1 – “Therefore there is now no condemnation for those who are in Christ Jesus.”

  19. marcus s.

    Let us not forget…that those same lenders also have the right to file bankruptcy and as we see today, they too are exersizing their right to file..the forgiveness of the lender is given when they are notified that one has filed bankruptcy then they no longer persue any legal avenue against you as a matter of fact they charge off the debt…

  20. marcus s.

    OOOPsss forgive me, i misspelled exercise….should be exercising…sorry!

  21. Lisa T.

    Hi Bob,
    I was reading the posts on this site and am wondering about the Lord’s feelings toward our situation. Four years ago my husband’s lawn care business failed due to a prolonged drought and it was a long time before he could find another job. We had debt that we could not pay on-credit and one loan. My husband was convinced by friends that bankruptcy was his only option. I felt that this was immoral and refused to discuss it. In the end he filed behind my back and nearly lost our house. The majority of our debt was shifted from his name to mine and we were in worse shape than before. Since then we have paid everything we could and I still hope that in the future we can repay those debts that were cancelled. We still have one persistent credit debt that we cannot get anywhere with since the debt collectors have hit us with such high interest. We have paid monthly for about four years and at the rate we are going it could take us up to 17 years to repay. We have a chance to refinance our mortgage and add that debt to the house which was our plan. Now the mortgage co. and the collection agency have made a deal between themselves to settle the debt at a lower amount. Is this wrong too? The bankruptcy was horrible and it took much healing in our marriage to overcome this. I still feel the guilt of making this mistake although I didn’t want it done. I have also repented of not supporting my husband although I knew he was wrong. I am so afraid of offending the Lord once again by settling on this debt and not paying back every penny. Things are still very tight for us and we don’t know what else to do. Do you have any advice?
    Lisa T.

    • Lisa,
      as I mentioned a few comments earlier – you shouldn’t feel guilty about the past. And like you mentioned if this was against your will I don’t know what you could have done differently. Even if you did do something wrong (like we all do) the BIble says that when we ask God for forgiveness He is faithful to forgive us of all unrighteousness. What’s done is done and if God has forgotten about it why should you be hanging on to it?

      As far as the settlement, it is a bit of a gray area. No it isn’t as good as paying your balance in full, but it is a lot better than not paying it at all. Technically, the lender is saying that they are forgiving a portion of your debt – but they are generally “pushed” into this because they think it may be their best option for getting paid at all. I think you should pray to see what the Lord is leading you to do. But I will just throw this out there – if it were me and the financial situation was bad enough I would consider taking the settlement. Now, if I did that I would keep track of how much I owe each of the creditors and after my financial situation improved, I would still go back to those lenders and repay them what I owed them – preferably with interest. Even if it was 5 years later – imagine what kind of witness that would be to those lenders.

      Either way, in the meantime, I encourage you to go to the library and borrow Dave Ramsey’s TOtal Money Makeover – it truly is a lifechanging book and I think it would be very helpful for you and your husband…

  22. So I want to make sure I understand why this verse was posted.

    Psalm 37:21

    “The wicked borrows and does not pay back, but the righteous is gracious and gives.”

    I am to conclude that if you borrow and are unable to repay, I did not say unwilling to repay, that you are wicked. Is this correct?

    Then I must conclude that every Christian in the world today and in the past is and was completely able to repay any and all debts they have ever acquired? Right?

  23. Michael Blauser

    When the credit card companies lend, they know a bankruptcy law exists. Pay it back within reason; if you can’t, file bankruptcy and move on. Millions of Christians have, and will.

  24. J Mancuso

    Although I appreciate stumbling upon this article. Please be aware that the bible also tells us that we are under the law and should abide by it.

  25. Aggi Kasparis

    The repercutions of dept and bankrupcy are an enormus burden to us.One i sometimes feel i can no longer carry.I spend sleepness nights worrying about it. things went hiorribly wrong 5 years ago when i was forced to split from my then spouse. this in turn started an avalanch of dissasters. from loosing my family home , my children due to the separation, then the death of my dad and then my mum.was not in a good place then after all that to put it lightly… this again in turn had a huge impact on my business having lost all my staff when they walk out on me . 1 of them whom was related to my ex wrongly convinced them that i had instigated the split.how much more can a man take. i kept saying to god.!!!!! this resulted in me fighting back to try to keep my business afloat and turn things around. i must emphasise that thru all this i was a christian, and will always be . Correct me if im wrong but i felt i was under attack by the enemy and so emerst myself into my faith that`s got me through thus far. even tho the dispair got me suiacidal on occations, sorry cant spell. lol. the fight to keep my business and my now home meant i had to borrow to help short term until i managed to sell. well that didn`t work either. borrowed 50 k through credit cards, loans .ect . had 4 potencial buyers who all cost me money over the 5 years of desparately trying to keep things afloat still believing that god will rescue me from this demonic attack on my life and well being.well bankruptcy was my only option.i then believed it was a godsent it seemed the only way. now christians out there please tell me where iv gone wrong and pray for me cause i`m now getting evicted from my home again cause the person whom we share a house with refuses to pay his share of the rent , is there no end to my missery. x x

  26. Jesus sacrificially paid for our debt of sin, a debt that was too big for us to pay.

    God’s word, the Bible, provides debt relief and debt forgiveness laws (Deuteronomy 15:1-2) as well as miracles in the financial realm (2 Kings 4:1-7).

    Pay your debts if you have the means to do so (Psalms 37:21).

    However, if you are unable to pay your creditors, then you need to decide whether or not to file for bankruptcy relief. Such decision requires wisdom. The LORD promises to liberally and gladly provide such wisdom to those who pray for such wisdom (James 1:5-7). Further, seek advice and input from godly people you trust (Psalms 1:1).

  27. You said,

    “And you are right, there very well could be circumstances where it could be okay. That is between that person and God. But based on on the scriptures I see I think it is pretty clear that He wants us to pay back what we owe.”

    I had a credit score of 720 before filing bankruptcy. Until I contracted a benign brain tumor, I was able to work every day of my life for 30 + years, and my credit card balances were manageable. As the surgeries, radiation, and doctors bills came I tried my best for 2 years to make arrangements, and even negotiate with my creditors but to no avail. I had no choice but to file bankruptcy when my wife had to take a lower paying job just to be closer to home and help me through this health situation. We didn’t feel we had committed a sin by doing so. We have by no means, made a windfall by not having to pay our debts back that were discharged. We are able now to make ends meet and still be of service to God through our church. So far, God has blessed us with my tumor not going malignant and I am thankful to be alive. Although it has left it’s mark on my life through deafness, and vertigo, I too am willing to pay my debts back if only I could. I believe that I am in God’s Will for my life and he has given me this “thorn in my side” that I have to “run the race” with. Be sure that I understand “All things work together for the Good to those who love the Lord”.

  28. If a person is able to pay your debts, then he or she ought to repay “just” debts. If the debts cannot be repaid in whole or part, then a number of options are available including a Chapter 7 or Chapter 13 bankruptcy. Bankruptcy laws were derived from the Bible (Deuteronomy 15:1-2). However, the Bible chronicles financial miracles (2 Kings 4:1-7). Accordingly, one must trustingly seek wisdom and guidance from God as to the direction He would have one to choose. (James 1:5-7; Proverbs 3:5-6). Further, seek advice from Godly people (Psalms 1:1; Proverbs 12:15, 11:14, 15:22).

  29. hoover

    I’m seeking biblical scripture regarding a business partnership. I know this is irrelevant but the partners are family and friends. We are all believers and have been praying and seeking the Lord for his will. The debt to this non-producing business is quite large. We have been paying only interest for over 4 years now and with the economy the way it is, in the world as we see it we see no end in sight.(we are praying the in the spiritual world that the table is being set for a break-through) One partner is getting to the point that they cannot pay any longer. We have all signed personally for this loan. If this person stops paying it will create great hardship on the remaining partners. My husband and I can cash out our retirement (we are 50 years old) and come up with enough money to pay off this loan. We feel that if we stop paying the bank will come after us as we have the resources to pay the loan. We feel strong about paying your debt. This is the only debt that we have. However, I do not want to become bitter feeling we have “let everyone off the hook” I do not want to money & business to come between family and friends and I don’t know if the right thing to do is to put this whole thing to rest and just pay it off and have faith the Christ will make things right. Is there anyh Bible scripture that I can refer to regarding my situation? I know it’s a tough one.

  30. Sadly the writer mentions nothing of the principle of Jubilee on which the English Bankruptcy Law was founded. The bible recognises that there are occasions which render the freeing of an individual from unmanageable debt as a righteous act. It is also a fact that all credit agreements (in the UK) contain provisions for bankruptcy within the Consumer Credit Act and in recognition of this interest is charged by the lenders on all agreements to compensate them for such a loss. It is also very interesting that as Christians we tend to give plenty of advice on how our brother should get out of debt without using bankruptcy but fail to put are hands in are pockets to help pay off their debt. It is a biblical principle to redeem a brother from slavery. So if we are content to refuse the option of bankruptcy then the selling of our own house, car etc etc in order to pay off a brother or sisters debt should become the norm.

  31. Funny how this guy doesn’t mention Deuteronomy.

  32. Ngoni Griffith

    I filed for Chapter 13 bankruptcy in August 2010. Debt was overwhelming me due to me quitting my job because of a workplace situation. I have never missed a payment to my creditors and I didn’t want to start now. I am now in another job I absolutely love and have peace of mind. However, I am making 1/2 of what I was making at a previous job. I believe God led me to this job that I have now and He wants me to be here. I have three more years left to go of my bankruptcy. After my bankruptcy is over, I plan on saving to pay off the rest of what the bankruptcy didn’t cover. I want to make sure that I pay back EVERYTHING I promised my creditors when they lent me the money. I realize that credit cards are my weakness and I prefer debit cards or checks/cash so much more now! Sometimes it takes a still small voice to get us to realize the mistakes we are making. Now my focus after all this is over is to invest so that I can give more to others. There’s a lot of people suffering out there and I want to help. Even though my bankruptcy didn’t stem from me spending lavishly on myself, I needed to realize that I must learn to live within my means. If I have the money, then I am free to give. If I don’t have it, I just don’t have it. One lesson I learned: NEVER EVER GIVE A CREDIT CARD TO A GIVER!

  33. I am fellow believer in the Messiah with more of a Hebrew perspective. With that said we live in a world that is run (financially) by evil bankers who sole purpose is to enslave us all with the burden of debt which is not of Yahweh/God. Now some have been more discipline than others in this matter, but the scriptures (Torah/our Father’s instructions) basically expresses that it is wrong to lend on usury/interest and it is also forbidden to demand payment from some one who can not repay (Duet. 23:20, Ex, 22:24). Now we have to understand that Yahweh/God was giving this instructions to the children of Israel which where the 12 tribes and a mixed multitude that came out of Egypt, which represent our present wicked world system today. So does this world really acknowledge God’s laws, especially His financial instructions, No! The point I’m trying to make is that this present system we live is Egypt which puts us all into bondage, spiritually and financially and the interest that these bank impose us is UN-Godly, period. In a Godly society we would not have mortgage our lives in order to buy every day items, even automobiles. I herd once that the only thing that individuals should have a note on is a home, period! Not today folks, we even have a payment plan for Disney tickets which by the way promotes magic and witchcraft. The cost of living is ridiculous and I don’t know how most people do it with out getting into some kind of debt (could that be there plan). Most of us out there has gotten suck into the lust of this world one way or another and all who did had every intention to payback this debts, but circumstances beyond our control come along and a lot of people are unable to pay back or make substantial restitution. So do these financial institutions work with the borrowers by getting rid of all interest and fees and concentrate on principle. No, most don’t care what the borrower goes through and all that drives them is greed. In addition a lot of the debt after time is nothing more that numbers in a data base, just ask the Federal Reserve system how the money is created, maybe by the debt created. So the best advice is to stay away from credit cards and any unnecessary debt, if you have some past debts, pay what you can if you can and put the rest in Yahweh’s hand. The Creator gave these laws for our benefit and He did not want His children to be burdened with ongoing debt if that debt was acquired with good intentions. We will not be having these issue in the coming Kingdom, HalleluYah!

    • I have to agree with James.

      And I would like to add something here..

      As believers in Christ, we are no longer under the law…. God, has positioned us to rule and reign as kings in this world, through Christ. He has imputed righteousness to us, because we believe, just as he imputed righteousness to Abraham, because he believed.

      We have the blessing of Abraham, which is material wealth

      We have power and authority over all the works and plans of the devil, we have authority over serpents and scorpions, and nothing shall by any means hurt us (Luke 10:19 -).

      The weapons of our warfare are not carnal, but mighty in GOD..MIGHTY IN GOD (2 Corinthians 10:4 – ) we are in a spiritual and continual war folks, and it takes spiritual and consistent effort to defeat the nefarious plans of the Devil and his demons in this world.

      That’s why Jesus said to love your enemies, because it’s not the man you should be bothered about, it’s the spirit controlling him! Pray, Wisdom, Knowledge, Understanding..

      Wisdom is better than weapons of war (Ecc 9:18)

      Money answers all things (Ecc 10:19)

      Soloman goes on to say: ‘ I have seen slaves on horseback, while princes go on foot like slaves.’ (Ecc 10;7 -10) Vs 10 says: If the ax is dull and its edge unsharpened, more strength is needed but skill will bring success.

      Understand what bankruptcy really is, understand the money system of this world, understand that Prophesy is playing out as we are alive!

      I believe that’s why Jesus always said,to him who has, even more shall he have besides… Wisdom, wisdom, wisdom!

      When the tax collector came to Jesus and Peter in Mathew 18, to pay the Tribute Tax, did Jesus, go to his money bag to pay it, especially when he raised the point the sons of the king of the earth, do not pay tax, only strangers!

      So to ‘keep peace’ he got the 2 drachma tax out of the fishes mouth. (Please research the idol called dagon – 1 Sam 5:2-5; Jud 16:23-24)

      Banks print money, we can make money! We can call it into existence. because we have a father in Heaven who has given US his Authority to rule in this earth (Psalms 8 and Psalms 82, Rom 5:17, Matthew 11:12. rev 3:11, Rev 12;11; John 10:10, 1 Peter 5:8-11; Mathew 6:33-34; Eph 1:17 – end)

      The enemy is stealing from the Children of God, God Corrected the first error that took place in Genesis by Sending His Son Jesus.

      Paul said, how long are you going to be like a child, when you are heir to the whole estate. (Gal 4:1-2)

      If you understand the money system, then bankruptcy is definitely a way out, And I believe it fulfills scripture.

      remember the Widower, who the Prophet Elisha asked ‘What she had in her house’ because the debt collectors were coming to take her children as Bond servants – That was BANKRUPTCY, because in those days, money was real, and if you did not pay it back, your children or spouse would be taken to ‘re-pay’ the debt.

      The year of Jubilee, in Leviticus, was that ALL debts be forgiven, under the law.

      Today, there is no MONEY, and Christians are blind to the rulers of this world.. Jesus was not, and he would attack them always.. He was not ignorant to the political system of that day, we shouldn’t be ignorant to the politcal, money system of today.

      Just ask yourself the question.. when someone goes bankrupt… who pays the debt? where does it go, what happens to it. A judge gives an order and then every creditor just says ‘no worries”?
      Added to the fact that the banks have no money to lend unless there is money in reserve, which through the laws of Fractional Reserve banking, they then keep 10% on reserve and ‘lend’ or print the over 90%

      SO there is NO money, just a system.

      Hence, Jesus got the Gold coins out of the fishes mouth, You as a christion are a child of the king.. .taxes should be returning to us, not us paying taxes, But if we remain ‘children’ not knowing what is out estate, we will remain lost.

      Read Mathew 25:29 (Parable of the talents)

      The story of the Shrewd Manager (and why children of this world are more Children that the Children of God) I believe Jesus was trying to tell us to WAKE up and get with it! stop sticking to every written code and think for a change, and think outside the box!

      If one prepares themselves properly, you can go bankrupt and still lawfully live as a king.

      Where there is ignorance, abuse is inevitable

      Finally,
      Christ “wiped out the handwriting of requirements that was against us…having nailed it to the cross” (Colossians 2:14, NKJ)

      Some translations say note or bond. i.e. the debt, and today, all that is used is notes and bonds (known as currency or cash)

      So, whatever title the world want to give you, including bankruptcy/ or bankrupt… you can never be broke!

      The name of Jesus is above ALL OTHER NAMES ( Ephesians 1:21 Phil 2:9)

      Ephesians 1:
      17 That the God of our Lord Jesus Christ, the Father of glory, may give unto you the spirit of wisdom and revelation in the knowledge of him:

      18 The eyes of your understanding being enlightened; that ye may know what is the hope of his calling, and what the riches of the glory of his inheritance in the saints,

      19 And what is the exceeding greatness of his power to us-ward who believe, according to the working of his mighty power,

      20 Which he wrought in Christ, when he raised him from the dead, and set him at his own right hand in the heavenly places,

      21 Far above all principality, and power, and might, and dominion, and every name that is named, not only in this world, but also in that which is to come:

      22 And hath put all things under his feet, and gave him to be the head over all things to the church,

      23 Which is his body, the fulness of him that filleth all in all.

      I pray God Gives us all understanding.

    • Ngoni Griffith

      If I am to understand your post, are you saying that this present system of financial ruin is due to the mixture of races, in particular blacks (Egypt)? If not, I am sorry. I must be reading between the lines. Jews were supposed to preach the gospel to the lost sheep (Blacks and other Gentiles). Since that was not accomplished because Jews don’t believe Jesus is the Messiah, then it was given to the Apostle Paul to do, in which we ARE learning from. From my understanding, and correct me if I am wrong, Jews are allowed to charge interest to those who are NOT Jewish. Please don’t accuse financial ruin to a particular race or ethnicity. That is dangerous doctrine. There are SOME crooked people who manage Wall Street who are not of “Egyptian” origin. Don’t forgot Fannie Mae and Freddie Mac. By the way, if “Egypt” is the FIRST race to populate the earth, how did we corrupt ourselves? And what happened to OUR riches?

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