Biblical Answer

Debt can be a significant burden for individuals and families. While bankruptcy may be a legal option for some, it is not always a moral one. In fact, the Bible teaches that debt is a serious issue and should not be taken lightly. Proverbs 22:7 states, "The rich rule over the poor, and the borrower is servant to the lender." This verse highlights the importance of financial responsibility and the consequences of accumulating debt.

To get out of debt without going bankrupt, individuals must take a proactive approach to their financial situation. This involves creating a budget, paying bills on time, and avoiding unnecessary expenses. It also means being mindful of credit and debit card offers, as they can often lead to overspending and debt accumulation. By being diligent in their financial management, individuals can avoid the need for bankruptcy and maintain a good credit score.

The Bible also teaches that individuals should prioritize their financial responsibilities and seek help when needed. Proverbs 6:1-5 warns against taking a surety for a friend who is not responsible, as this can lead to financial trouble. Instead, individuals should focus on paying their debts and living within their means. By doing so, they can avoid the financial burdens that come with debt and live a more stable and secure life. Ultimately, the key to getting out of debt without going bankrupt is to be responsible, disciplined, and proactive in one's financial management. This involves creating a budget, paying bills on time, and avoiding unnecessary expenses, while also seeking help when needed and prioritizing financial responsibilities.