BANKRUPTCY IS SANCTIONED BY THE OLD TESTAMENT---LEVITICUS, CH. 25

Infrequently, a client will consult with me in a mixed emotional state.  On the one hand, the client has been humilitated by his creditors, being subject to numerous harassing phone calls, written demands and judgments.  Yet at  the same, the client suffers from extreme shame that he or she is about to file for bankruptcy and seek forgiveness of his/her debts.  Many of these clients have stated that they feel bankruptcy is immoral. 

Logically, insolvency frequently results from tragic life events that no one can foresee or which are foreseeable but extremely unlucky.  Moreover, for those instances in which the insolvency results from reckless financial behavior one can rationalize the bankruptcy relief sought because insolvency generally results from a lender too willing to lend or too willing to exercise power over another and a borrower too nearsighted to contemplate the consequences.   Although I personally tend to be persuaded by reason, I recognize that many are influenced by their religious upbringing.  For the latter, I refer them to Leviticus, Chapter 25 in which the Bible states:

And ye shall hallow the fiftieth year, and proclaim liberty throughout all the land unto all the inhabitants thereof; it shall be a jubilee unto you; and ye shall return every man unto his possession, and ye shall return every man unto his family.  . . . Ye shall not oppress one another . . . And if thy brother be waxen poor, and fallen in decay with thee; then thou shall relieve him: yea, though he be, a stranger, or a sojouner; that he may live with thee.  Thou shalt not give him thy money upon usury, not lend him thy victuals for increase.  . . . And if thy brother that dwelleth by thee be waxen poor, and be sold unto thee; thou shall not compel him to serve as bondservant.  But as an hired servant, and as a sojourner he shall be with thee, and shall serve thee unto the year of jubilee; and then shall he depart from thee, both he and his children with him, and shall return unto his own family, and unto the possession of his fathers shall he return.  For they are my servants, which I brought forth out of the land of Egypt: they shall not be sold as bondsmen.  Thou shall not rule over him with rigour; but shalt fear thy God.

Again, psychologically, I feel that many consulting with me have the shoe on the wrong foot.  It is immoral to enslave or oppress.  It is not immoral to flee oppression.

This blog is not intended to render legal services to the reader, including advice about bankruptcy or taxes. Consult with a lawyer concerning the specific application of the law to your unique circumstance.