May 15, 2014
By T. Kyle Bryant
Bankruptcy can be a controversial topic among Christians. Some people think bankruptcy is a cop-out, a way for people to outrun their outrageous spending habits. Others see bankruptcy as the ultimate act of forgiveness, a chance for people to start over with a “clean slate.” And some think that we should only make such judgments on a case-by-case basis—it’s the heart of the bankrupt person that matters.
But how should Christians think about Bankruptcy? What exactly does bankruptcy accomplish? And what does the Bible have to say about such things as debt forgiveness, loans, and credit?
The Bible has a lot to say about the principles behind bankruptcy law. In the Old Testament, God gave Moses various laws concerning the poor, lenders, borrowers, and debt forgiveness. Here are some of the most notable: