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  Bankruptcy Bible Quotes & Promises
- Inspirational & Famous Quotes
-- Definitions & Meanings

Bible Quotes
If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.
(Exodus 22:25) ESV 

If your brother becomes poor and cannot maintain himself with you, you shall support him as though he were a stranger and a sojourner, and he shall live with you. Take no interest from him or profit, but fear your God, that your brother may live beside you. You shall not lend him your money at interest, nor give him your food for profit.
(Leviticus 25:35-37) ESV 

You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it.
(Deuteronomy 23:19,20) ESV 

The wicked borrows but does not pay back, but the righteous is generous and gives;
(Psalm 37:21) ESV 

The rich rules over the poor, and the borrower is the slave of the lender.
(Proverbs 22:7) ESV 

It is better that you should not vow than that you should vow and not pay.
(Ecclesiastes 5:5) ESV 

Inspirational Quotes from Famous People

Bankruptcy is a serious decision that people have to make.
--Herb Kohl – American Politician Born 1935

Capitalism without bankruptcy is like Christianity without hell.
--Frank Borman – American Astronaut Born 1928

Bankruptcy represents a longstanding commitment in this country to helping people get a fresh start. This principle has never been giving only certain people a fresh start.
--Tim Johnson – American Politician Born 1946

Today, certain people file for bankruptcy, businesses and individuals, and it no longer has the stigma it once had. Now it's almost considered wise, a way to regroup and come back again.
--David Dinkins – American Politician Born 19276

Related Links
Live within your means
Love, Courtship and Marriage
Wedding Bells



Bankruptcy and the Bible

In a very real sense, bankruptcy is about forgiveness, ie forgiveness of one's debts by creditors. Sometimes a debtor may be able to reach agreement with creditors in the form of a deed of composition or arrangement to repay part or all of debts over a specified period of time.

Surprisingly for some, there is support within the Bible for such generous acts. For example, Deuteronomy 15:1-2 says the following: At the end of every seven years, you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord’s release has been proclaimed.

Whilst these verses are talking about the year of Sabbath, which occurred every seven years, the idea of creditors forgiving their debtors is not without merit, even in this modern day. Of course, the act of forgiving a debt does not mean that someone should borrow indiscriminately, and without a plan.

There are numerous versus within the Bible extolling the virtues of borrowing money responsibly. For example, in Psalms 37:21: The wicked borrows but does not pay back, but the righteous is generous and gives;

Furthermore, in Romans 13:8, a Christian is encouraged to: Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.

Also, in Ecclesiastes 5:4-5, the importance of a vow or promise to repay a debt is illustrated: When you make a vow to God, do not delay in fulfilling it. He has no pleasure in fools; fulfill your vow. It is better not to vow than to make a vow and not fulfill it.

Based on these verses, and others found throughout the Bible, the borrower is obligated to repay his debt, in full, under the criteria of the original loan. While this might seem to exclude filing bankruptcy, it does not.

The Bible does not forbid bankruptcy, and does offer instances of debt forgiveness, but it is important to realize that borrowing and paying debts in a responsible manner should be a goal of any Christian.5


Testimonials and Comments



Definition of Bankruptcy

1. Law A debtor that, upon voluntary petition or one invoked by the debtor's creditors, is judged legally insolvent. The debtor's remaining property is then administered for the creditors or is distributed among them.

2. A person who is totally lacking in a specified resource or quality: an intellectual bankrupt.

1. a. Having been legally declared financially insolvent.

b. Financially ruined; impoverished.

2. a. Depleted of valuable qualities or characteristics: a morally and ethically bankrupt politician.

b. Totally depleted; destitute: was bankrupt of new ideas.

c. Being in a ruined state: a bankrupt foreign policy.4     




References and notes
The above Bible Promises are from the following books:
1.  The Bible Promise Book Barbour Publishing, Inc
2.  Promise of the Psalms Compiled by Ellen W. Caughey Barbour Publishing, Inc
3.  My Little Book of Promise - Christian Art Gifts
4.  The Free Dictionary -
What Does the Bible Say About Bankruptcy? -
6.  Brainy Quote -


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