Verse of the Day: Should Christians Declare Bankruptcy?

April 12, 2007

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4 When you make a vow to God, do not delay to pay it;

For He has no pleasure in fools.

Pay what you have vowed—

5 Better not to vow than to vow and not pay.

Ecclesiastes 5:4 (NKJV)

21 The wicked borrows and does not repay,

But the righteous shows mercy and gives.

Psalm 37:21 (NKJV)

I think the Bible makes it quite clear in these two verses about what God thinks about making vows and following through with them. Taking a loan is a contract (a vow) and to not pay it is wrong. It says “better not to vow than to vow and not pay”. If you don’t think you can pay a loan, don’t take out the loan in the first place!

It also talks about wicked people. These people borrow money and don’t repay or have any intention to pay. The wicked often use people for personal gain without regard for morals or anything. I once had a co-worker who was just plain bad with money. He just always seemed to be asking for money and never had enough, even though he made more than me! One day he asked me if I could cash a check for $1000 for him and then bring him the cash. He made up some story about how he lost his debit card and he didn’t have access to his money. It’s a good thing a mutual friend told me that he had done this to him and basically took his money while the check bounced. I politely refused but if the mutual friend hadn’t told me, I probably would have done it because I trusted him. It’s amazing what wicked people will do for personal gain.

Anyways, the moral of the story is don’t be a wicked person and repay all your loans, including personal loans to family and friends.

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2 Responses to “Verse of the Day: Should Christians Declare Bankruptcy?”

  1. Minimum Wage Says:

    What if someone has student loan debt and a minimum wage job? The rationa;e behind student loans is that the borrower’s earning power will increase, thereby facilitating repaymentof the loan.

    Obviously there would be no point in a student loan if a minimum wage income were the expected outcome.

    So it’s unforeseen for a student loan borrower to earn minimum wage.

    What are you supposed to do then? Live in destitution until (and if) the student loans are fully repaid?


  2. I’m glad that you’re reading the blog and leaving comments. 🙂

    Now, student loans cannot be “forgiven” in bankruptcy. They will be with you until you pay them off.

    I never claim to have all the answers. I don’t know why bad things happen to good people. It seems your situation is pretty dire and that you have an income and career crisis. There’s really not much you can do with a minimum wage job trying to make it, especially with a ton of debt. All I can say is keep plugging, and never give up!


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