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March 09, 2005

Christian Positions on Bankruptcy?

I'm working on a news story this week for Christianity Today on the bankruptcy bill that is making its way through Congress.

I am interested in the major Christian positions for and against the bill, which makes it more difficult for individuals to file for Chapter 7 bankruptcy.

The political positions:

The bill keeps the courthouse door open, but also holds people accountable for their debts," said Laura Fisher, spokeswoman for the American Bankers Association. "It eliminates some abuse in the system."

But critics point out that the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 -- which could get a final vote in the U.S. Senate this week -- is not intended to protect lower-end economic groups either.

What about the biblical positions?

What say ye, blogosphere?

Posted by Jim at March 9, 2005 05:26 PM

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The blogosphere is all in a twitter over the bankruptcy bill currently in congress. I have very mixed feelings about the bill. has several reasons for opposing the bill: “It's already plenty difficult to declare bankruptcy for the averag... [Read More]

Tracked on March 10, 2005 05:32 PM


I work for a firm that handles both collections and bankruptcies, but sooner or later the government has to establish some guidelines that encourage financial responsibility. Maybe this will do the trick. I don't know. But there are way too many people filing Chapter 7 for it to just be an unfortunate situation across the board.

Posted by: Matt at March 9, 2005 07:19 PM

I like the idea of passing the bill but adding a part that more tightly regulates credit cards and usury. Christians used to not even be able to give each other loans with interest and the Bible is pretty clear about both usury (bad) and jubilee/forgiving debts (good). Make the maximum loan rate for an unsecured credit card 5-6% above the prime rate and we will see fewer bankrupcies.

Posted by: Pete The ELder at March 9, 2005 11:33 PM