Scriptural Foundations Of Bankruptcy

The U.S. federal right to declare bankruptcy is based on a historical practice of forgiving debts that is evidenced in the Bible and other religious texts from around the world. Even Old Testament lenders, who were not known for being merciful, were forced to cancel debts every seven years.

Deuteronomy 15:1-2 proclaims, "At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel any loan they have made to a fellow Israelite. They shall not require payment from anyone among their own people because the Lord's time for canceling debts has been proclaimed."

Most people who have been overburdened and overwhelmed by debt are honest people who have just had some financial misfortunes. At Sigmon & Henderson, PLLC, in Gastonia, we believe there is room for grace and debt forgiveness to preserve the family unit and allow people to contribute to the community again.

If you have questions about bankruptcy or any other type of debt relief, contact Sigmon & Henderson, PLLC, to schedule a free initial consultation. Call 704-269-6374 today to discover how we can help you obtain a fresh financial start, stability and security for you and your family.

Gastonia Bankruptcy Attorneys Helping You Get Back On Your Feet

Our attorneys know the need for compassion and forgiveness. Both principles are for the betterment of our communities, especially when in reference to financial debt. The burdens of debt are not your fault. High interest rates and credit schemes are designed to trap you, forcing you into an indebted position that would take years or even decades to recover from.

We help individuals and families throughout North Carolina pursue bankruptcy protection when it is appropriate for their particular situation. There are appropriate times to forgive debt. Nehemiah 10:31 also states, "Every seventh year we will forgo working the land and will cancel all debts."

It is a shame that creditors and their powerful lobbyists fight so hard to diminish your rights and protections under the Bankruptcy Code.

Bible Passages And Jesus Speak Against Interest Charges

Interestingly, other passages of the Bible, including Ezekiel 22:12, Ezekiel 18:13, Psalm 15:5, Nehemiah 5:1-11, Exodus 22:25-27, Leviticus 25:35-37, Proverbs 28:8, Isaiah 24:1-3 and Deuteronomy 23:19-20 expressly forbid charging interest on money or any other item you lend to another who is in financial hardship.

Jesus also spoke against usury (charging interest), most notably in Luke 6:32-36:

"If you love those who love you, what credit is that to you? Even sinners love those who love them.
And if you do good to those who are good to you, what credit is that to you? Even sinners do that.
And if you lend to those from whom you expect repayment, what credit is that to you? Even sinners lend to sinners, expecting to be repaid in full.
But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be children of the Most High, because he is kind to the ungrateful and wicked.
Be merciful, just as your Father is merciful."