Biblical Answer

The Bible does not explicitly prohibit filing for bankruptcy, but it does offer guidance on managing debt responsibly. In fact, Proverbs 22:7 says, "The rich rule over the poor, and the borrower is servant to the lender." This verse highlights the importance of avoiding debt whenever possible and living within one's means. However, when debt becomes overwhelming, filing for bankruptcy may be a necessary step. The key is to approach bankruptcy with a sense of personal responsibility and a willingness to work towards financial recovery.

In Matthew 5:25-26, Jesus teaches that we should settle our debts with others before coming to God with our own debts. This verse suggests that we should strive to resolve our financial obligations in a fair and timely manner, rather than trying to avoid them through bankruptcy. However, Jesus also acknowledges that sometimes, despite our best efforts, we may find ourselves unable to pay our debts. In such cases, bankruptcy may be a viable option. The important thing is to approach bankruptcy with a commitment to making things right and getting back on track financially.

Ultimately, the decision to file for bankruptcy should be made with careful consideration and a sense of personal responsibility. It is not a means of avoiding accountability or shirking our financial obligations, but rather a last resort for those who have exhausted all other options. As the Bible says in 1 Timothy 5:8, "If anyone does not provide for their relatives, and especially for their own household, he has denied the faith and is worse than an unbeliever." This verse emphasizes the importance of taking care of our financial responsibilities, but also acknowledges that sometimes, despite our best efforts, we may need help. In such cases, bankruptcy may be a necessary step towards financial recovery and spiritual wholeness.