Why Bankruptcy?

Ever considered it?

Because Friends Don’t Let Friends Pay Credit Cards From Savings!

You may either make too much money or have too much equity in your assets, in which case, why bother?  You may have no job and nothing to take away from you, in which case, why bother?

However, if you are like most families and people, you have an average income, average sized family and not enough income.  An average income would have been fine some years ago, but now, you’re making less and spending more, even if you have the same job.

As the price of gas goes up, while that might be good for the country if it forces us off of gas, it also means that your discretionary spending is shrinking faster than we can rebudget the little that’s left over.  Trust me, if the price of gas does go back down, it’s going to bottom out at about $4.00 to $4.25/gallon because that’s how markets work.

What are you going to do?

If you’re thinking that it’s immoral, stop it.  Two things, first look up the Jubile (Jubilee in Modern English) in your bible dictionary.  Second, think of the parable that ends with the statement that you cannot serve two masters, you cannot serve God and Mammon. You will want to Google the meaning of Mammon but it translates as ill-gotten gains, (some translations just say wealth).  So, you cannot serve God and sin.  Kind of a no duh moment.

But watch what the servant did. In that parable the servant was told by the Lord of the House that he was going to be fired because he hadn’t collected on the accounts.  As the accounts manager of the House, (think of House the way the English use it to mean business) he was a bad servant because he hadn’t collected.

So, upon learning that he was about to be fired, he settled several of the accounts.  Inquired of several of the Lord’s debtors, he’d ask how much do you owe? Answer received, he’d settle the account.  Accounts of 100 measures of oil, or 50 bushels of wheat, or 100 buckets of barley, he settled for between 50% to 80% of the balance.

But what happened to him?  From the man who had threatened to fire him, he received a commendation.  Think about this.  Almost a promotion, he gets an “Attaboy” from his boss.  The business owner  actually thanks him.

Serving Mammon

Serving mammon is to try to get the last penny out of your debtors when in a tough economy no one can afford to pay. Wise action is when the accounts manager has enough sense to settle the accounts and at least get some money back into the business in order to continue operations.  In doing so, he made his boss happy to get at least something instead of nothing which is what he was getting when the accounts manager was holding out for full price.  In doing so, he also made friends outside the business just in case he did in fact get fired and had to leave.

What are your Creditors doing to you?  They’re trying to get the last penny out of you when in a tough economy no one can afford to pay. If they wont’ be the wise servant and settle the accounts with you, then you be the wise servant and settle the accounts with them.  If you can afford to pay a little, you do a chapter 13 and pay a payment plan.  If you cannot afford to pay, then this is your JUBILEE year, and you do a chapter 7.

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