Sunday, June 7, 2009

What Christian Bankruptcy Entails

By Peter Gitundu

Financial distress can happen to anyone. It chooses neither race nor the religion of an individual. It has many causes, among them long illnesses that bring about huge medical expenses or even a student loan that has to be paid monthly. Other reasons for this could be overuse of credit cards on consumer goods which end up attracting big interest rates that the card holder may not be able to pay in good time.

The more it remains unpaid for, the more the interest rates escalates. Christian bankruptcy however takes a different look at this issue. Followers of Christ are just but managers of what God has put in their care and they should handle it responsibly. Christian bankruptcy argues that it would be wrong for a Christian to think that they can just borrow and then walk away from it. Under chapter 7, those who cannot repay their debts are forced to sell off their property in order to pay their debts.

Paul urges the followers of Christ to be just like Christ and owe nobody. Those who opt for Christian bankruptcy should make sure that they repay what they owe to others. They should not forgo their responsibility of paying back what they owe but should do whatever they can to pay back debts.

It is evil to borrow and not pay off the debts as the Bible teaches in Psalms 37. It states that the evil person borrows money and does not pay back. The child of God should therefore honor the policy of honesty. They should not abuse their creditors by not paying them.

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