Biblical Answer

Bankruptcy and Assets: A Biblical Perspective

As a Christian, we must approach the topic of bankruptcy with a clear understanding of God's principles regarding financial responsibility. The Bible teaches that we are stewards of God's resources and must manage them wisely (Matthew 25:14-30). When we file for bankruptcy, we are not simply releasing ourselves from financial obligations, but also acknowledging our failure to manage our resources effectively.

From a biblical standpoint, bankruptcy is not necessarily a moral failing, but rather a recognition of our inability to meet our financial obligations. However, if bankruptcy is the result of irresponsible spending or negligence, it can be seen as a failure of integrity (Proverbs 22:7). As the Bible says, "The borrower is slave to the lender" (Proverbs 22:7). In this sense, bankruptcy can be a form of bondage, as we become enslaved to our creditors.

When it comes to assets, the Bible teaches that we are accountable for our possessions (Matthew 25:14-30). When we file for bankruptcy, our assets may be subject to seizure by creditors. However, the Bible also teaches that we are not to worry about our material possessions, but rather to focus on our relationship with God (Matthew 6:25-34). As believers, we must prioritize our spiritual well-being over our material wealth. In this sense, bankruptcy can be an opportunity to re-evaluate our priorities and focus on what truly matters – our relationship with God.