Daily Archives: March 19, 2015

Is Filing Bankruptcy A Sin?

Is filing bankruptcy a sin?  It is a sin not to pay your debts?  ?????????????????????????????????????????????????????????????????????????????

At the end of every seven years you shall grant a remission of debts.

“This is the manner of remission:

every creditor shall release what he has loaned to his neighbor; he shall

not exact it of his neighbor and his brother, because the LORD’S remission has been proclaimed.…

I know many Catholic arch-dioceses have filed bankruptcy due to sex abuse claims against clergy.

But I had no idea how many religious institutions have filed bankruptcy.

Of the churches filing for bankruptcy protection, about 44% were nondenominational Christian, 28% Baptist, 9% Church of God in Christ, 7% other Christian groups, 5% other religions, 3% Apostolic, and a little left over. – Source

What’s sauce for the goose, is sauce for the gander, right?

That is, if the church is filing bankruptcy, how can the pastor look down on a parishioner filing bankruptcy?

I have always said, bankruptcy is, and should be, a last resort.

But, if you do not have the money to pay your bills, how is not filing bankruptcy, and not paying your bills, moral or responsible?

I always tell clients, you can pay anyone you want to, if, somewhere down the road, you win the lottery, go ahead!

Pay all the creditors off!

But, do you really want VISA to make a little  more profit, or have money to help your kids?

Well, usually I am not that pushy.

But if filing bankruptcy is plan B, what is plan A?

We all make mistakes, and any religion worth its salt has a forgiveness component.

Most of my clients could not avoid what happened, divorce, layoff from work, business partner ran off with the funds.

I do not see how you can be held responsible for things beyond your control.

So, filing bankruptcy is NOT immoral.

(overwhelmed by debt? photo credit)

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