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Bankruptcy And Debts Blog 4 October 2008

4 October 2008

Is Most Christian Debt Advice Bogus, Here's What Jesus Would Really Do.

Posted by James Breen at 10/4/2008 2:57:00 AM

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Posted at 2:57 0 comments


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People file for bankruptcy because they're in debt. The more debt there is, the more bankruptcies there are. Well, duh! It really is that simple. When compared to the level of borrowing, the rate of bankruptcy has remained fairly steady. In 1977, 74 bankruptcies were filed for every $100 million of consumer debt. In 1997, 73 bankruptcies were filed for every $100 million of consumer debt. Bankruptcy isn't the cause of debt but rather is the result. And it isn't the disease but rather is one of the cures. Restricting access to bankruptcy court won't solve the problem of debt any more than closing the hospitals will cure a plague.