Ask Fred > Family > As a Christian, is bankruptcy an option?
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Dear Fred
My business is failing. I have little cash. If I negotiate a plan with a certain creditor, I would be strapped to pay my monthly obligations with no guarantee my business will recover. I have no savings to survive on either. As a Christian, is bankruptcy an option? Thanks.
Fred's Response
I think bankruptcy is the right course to keep a greedy supplier from cheating the other creditors. I had a friend who faced your situation and took bankruptcy just to permit him to continue and when his business became successful he paid everything he owed, though not legally obligated to do so. Another friend whose business was failing met with each creditor and secured in writing their agreement to the plan he had for turning the business around and eventually paying them the full amount. Bankruptcy is not a way for a Christian to avoid honest debt, but to give a viable way for paying.
