Destruction of sin and bankruptcy

Many Christians face the dilemma of whether bankruptcy is a sin or not. Since the bankruptcy began, this debate has been going on in the church. One thing is for sure, the topic is taboo and rarely talked about in social circles. In the past, most Americans only used bankruptcy as a last resort and as a way to start over. In the last hundred years, America’s morality has been dropping like water in the toilet. As the values ​​of our society continued to decline, people began to use the legal process as a way to get rid of all their bad debts and do it again without regret. Seven years later, many of these same people are repeating the process when it is available to them. Today, I think it is not a question of whether it is right or wrong, but how it will affect this person’s reputation in the future and their credit rating. It’s more about the appearance of doing the right thing, rather than paying people because their moral values ​​tell them it’s the right thing to do. Today, if a bankruptcy filing was not a public record, I think more people would have no problem filing.

Until recently, the entire bankruptcy issue has traditionally been viewed as immoral and carries a stigma of failure. In 2007, many Americans were forced to file for bankruptcy with no other option due to what happened to the economy. Now that the topic has become common and many people are facing financial difficulties, opinions about the bankruptcy filing process have changed. Many moons ago, most Americans did everything in their power to avoid filing for bankruptcy, as they did not want to use the gigantic scarlet B. The funny thing is how the stigma seeped into American culture. Before the 1970s, most people bought everything for cash, so filing bankruptcy was rare for most Americans, more so for business owners. In extreme situations, people who had to file for bankruptcy were usually due to an illness that caused large medical expenses. With the credit card revolution came large numbers of Americans who ended up with debt problems that led to bankruptcy. Before the 1960s, the term credit was almost out of date. When technology opened a way for people to carry plastic cards and opened the world of charges to everyone who could not pay something otherwise.

The Bible has a lot to say about filing for bankruptcy and debt. Leviticus speaks of the responsibility of a person to pay his creditors what he owes them. So that doesn’t mean that you can file for bankruptcy if you have the ability to repay your creditors. Many companies get into bad contracts that use bankruptcy as a means of severing ties with the supplier or a union and being able to renegotiate the deal they originally agreed to. Deuteronomy speaks of the legal right to cancel the debt every seven years. It also says not to be hard on the poor and pay off their debts every seven years. What this is talking about is canceling the debt of those who do not have the ability to pay it back. In fact, this was the basis for Chapter 7 bankruptcy in the past. Congress used biblical values ​​when creating the bankruptcy code that included filing for bankruptcy every seven years. Now the bankruptcy code changes in 2005, that number has changed to eight years. The bottom line is that if a person took out the debt with the intention of paying down and fell into hard times, there is nothing wrong with filing for bankruptcy. Where things get a bit confusing, in today’s economy, many people go overboard, buy things they cannot afford and when it comes time to pay for items, the person cries poorly and wants to file for bankruptcy. If this person is honest with himself and uses bankruptcy for a second chance, as long as he learns from his past mistakes, there is nothing wrong with that.

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