Biblical Answer

Can I find a way to pay off my medical debt without going bankrupt?

The Bible does not explicitly teach against debt, but rather, it emphasizes the importance of responsible financial management. In fact, the concept of debt is not inherently immoral; it is the inability to meet obligations agreed upon that constitutes debt. As Larry Burkett notes, the scriptural definition of debt is not about accumulating debt, but rather about failing to meet financial commitments. In this sense, medical debt can be viewed as a legitimate financial burden that may require assistance in paying it off. While bankruptcy may be a viable option in extreme cases, it is essential to explore other avenues before resorting to this solution.

One possible approach is to negotiate a payment plan with the medical provider or lender. This can involve setting up a manageable repayment schedule that takes into account the individual's financial situation. In some cases, payment may even be drastically reduced or forgiven. This approach is in line with the biblical principle of showing mercy and compassion to those in need. Furthermore, it is essential to exhaust all personal savings and retirement accounts before considering bankruptcy. This demonstrates personal responsibility and a willingness to take care of one's financial obligations.

In the event that medical debt becomes overwhelming and bankruptcy appears to be the only option, it is crucial to consider the moral implications of this decision. While bankruptcy may be a legal means of avoiding financial obligations, it is essential to approach it with caution and a willingness to take responsibility for one's actions. As the Bible advises, it is essential to render all due obedience to civil authorities, including the laws governing bankruptcy. However, it is also vital to prioritize the debt of love and live as Christians should, demonstrating compassion, mercy, and responsibility in the face of financial adversity. Ultimately, finding a way to pay off medical debt without going bankrupt requires a combination of responsible financial management, negotiation, and a willingness to take care of one's financial obligations.