Should I Declare Bankruptcy?

Q. I’d like your help regarding a decision to declare bankruptcy. I have about $10,000 in credit card, medical and misc bills. I am on social security disability and after paying bills I’m not left with much to live on. Would it be sinful for me to go ahead with a bankruptcy to get out from under this mess I got myself into? I’ve asked the Lord’s forgiveness for the ways I’ve spent my money but I feel a little uneasy about it. I’d really like to be responsible and pay off my debt instead of taking the easy way out. But I know it would take a long time and I’m already very discouraged about it.

A. I’m not a financial adviser, but it seems a shame to declare bankruptcy for such a small amount of debt. I know there are other alternatives, such as debt restructuring, settlements, etc. that are designed to help people living on a limited income. Before you make an irreversible decision, I suggest you consult a professional to see what your alternatives are.

Declaring bankruptcy is not a sin as long as you’re not trying to defraud anyone, but there are serious consequences that you should try to avoid if possible.

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