Case Study: Bankruptcy and the Bible

3600 words 15 pages
Case Study: Your long-time friend Carl comes to you with a serious problem in his life. He is a believer, and he wants your advice. For years he and his family have lived above their means. They did this by continually refinancing their house and rolling their credit card and other debt onto their home mortgage. However, now that real estate prices are no longer rising but actually falling, Carl can't refinance anymore and can't pay his monthly bills as they come due. He is in a real credit crisis. His creditors are calling him threatening lawsuits, garnishments, and other unpleasant things. One of his friends at work said that he should file bankruptcy. He comes to you for advice from a Christian perspective. In particular, he wants to …show more content…
Leviticus 25
New International Version (NIV)
The Sabbath Year
25 The LORD said to Moses at Mount Sinai, 2 “Speak to the Israelites and say to them: ‘When you enter the land I am going to give you, the land itself must observe a sabbath to the LORD. 3 For six years sow your fields, and for six years prune your vineyards and gather their crops. 4 But in the seventh year the land is to have a year of sabbath rest, a sabbath to the LORD. Do not sow your fields or prune your vineyards. 5 Do not reap what grows of itself or harvest the grapes of your untended vines. The land is to have a year of rest. 6 Whatever the land yields during the sabbath year will be food for you—for yourself, your male and female servants, and the hired worker and temporary resident who live among you, 7 as well as for your livestock and the wild animals in your land. Whatever the land produces may be eaten.
The Year of Jubilee
8 “‘Count off seven sabbath years—seven times seven years—so that the seven sabbath years amount to a period of forty-nine years.

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