It is better not to vow than to make a vow and not fulfill it. Ecclesiastes 5:5

Case study: Even though my husband has 10 years in the Navy, we have had to file bankruptcy chapter 7. After purchasing our second car, we are finding that our debt has become even greater, making it nearly impossible to apply for even a VA loan.

Sound familiar? You may know someone who has been affected like this or you may have experienced similar circumstances as well. In the pursuit of Godly living, what does the Bible say about bankruptcy? In today’s verse, Solomon makes clear that a vow (promise) of any kind is not to be taken likely. Once someone has given his or her word, it becomes a binding contract. Thus, debtors are obligated to repay what they have borrowed, “The wicked borrow and do not repay, but the righteous give generously “(Psalm 37:21). Should someone borrow money with an agreement to repay, bankruptcy does not negate this agreement scripturally. This doesn’t mean that a debtor in a hopeless situation cannot file for bankruptcy; yet, every other possible option should be explored before filing, such as selling major assets or liquidating retirement funds. Whatever is done, one’s motive should be honorable, according to Scripture. Don’t be another case study, work hard to keep your financial vows.

“Beware of little expenses; a small leak will sink a great ship.” – Benjamin Franklin