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Have To File For Bankruptcy

What does the Bible say about living beyond your means? What if you have to file for bankruptcy?

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 ---scott on 7/23/06
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Why is asking for debts to be lowered any different that filing for bankruptcy...both are not paying your debt. Why does bankruptcy not fit in with scripture?
---scott on 12/3/07

Go to your creditors and ask them to forgive your debts or at least a portion. Bankruptcy is not Scriptural. We need to pay what we owe. Just because mans law says we can walk away from our responsiblities doesn't mean God agrees.
---john on 4/18/07

God blessed me with a new job yesterday which will enable us to pay off all our debts other than car payment by the end of this year. We have avoided bankruptcy which I believe would not have been a good witness for the Lord. We will be able to buy a house by the end of this year also.
---Susie on 7/27/06

We found that living there was not cheaper and we were far from our families. We were continuing to do as much ministry as we could and paying our tithes regular. We finally sold that property and moved back nearer our family and paid off as many debts as possible. We were able to make a settlement with the largest credit card company, saving ourselves $1000. We are now living in an apartment.
---Susie on 7/27/06

We found ourselves in this position a few years ago after my husband had to retire due to back problems that made him unable to work. We sold our home and moved to another state where we thought the cost of living would be less. It took months before disability and pension kicked in. We found ourselves deeply in debt after three years.
---Susie on 7/27/06

....and if we have to take out a loan it should be for something essential and should be repaid on time. Many people today own nothing because they have bought everything with borrowed money. They still have holidays, buy gifts, drive cars bigger than they need etc. Some bankruptcies are brought about because one person lets down another but most are through frivolous living. This is not good for us and is not a good witness.
---emg on 7/25/06

"The rich ruleth over the poor, and the borrower is servant to the lender. Proverbs 22:7." I was always told that the bible says 'Neither a borrower nor a lender be.' I cannot find those words using a condordance but it might be someone's insight after reading that verse from Proverbs. It is very difficult to live in today's society without borrowing sometimes and if people borrow then there must be lenders. It is always wise to live within our means.....
---emg on 7/25/06

Maybe the circumstances are greater...a business deal gone bad, losing a job, losing a spouse. In these cases, maybe it means asking for help. Asking for an extended loan, refinancing or selling out, moving in with family to get back on your feet. There is ALWAYS an option, but rarely an easy one. I would encourage others to choose the mountain hike of integrity over the easy street.
---Katie on 7/24/06

There are other options to bankruptcy, but we like the easy way out. We want our cake, and to eat it too. It takes a man of true integrity to hunker down and pay the consequences for his actions. One must ask themselves the hard questions, and then agree to do what is necessary. In terms of finances, it means selling the big house, returning the expensive car, driving past the Starbucks instead of through it. Learning to live within your means. To be cont.
---Katie on 7/24/06

Scott-Romans Chapter 13 instructs us to give everyone what we owe them, and to not let debt remain outstanding.

It is unwise to live beyond our means for we then become slaves to our debt. Fear and stress take the place of our peace and joy. It is to our gain to follow this biblical prinicple of paying our debt in full. And it is an example to those who do not know the Lord. Cont...
---Katie on 7/24/06

Remember the Year of Jubilee when ALL debts were automatically cancelled and ancestral lands returned to the original families?

This is the origin both of bankruptcy laws and the statue of limitations.
---Jack on 7/24/06

Prior to the concept of Bankruptcy all we had was Debtors Prison. Bankruptcy provides a much more Christian alternative as it allows the individual/family to keep certain assets and does not destroy an operable family unit.

There were changes to Title 7 recently that changed some of the ground rules.

If you need to use the resource use it!!!
---notlaw99 on 7/23/06

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