Biblical History of Bankruptcy - Baker & Associates, Houston Bankruptcy Lawyers

The current bankruptcy laws in the United States are very different from almost anywhere else in the world. The fundamental principles of our bankruptcy laws originate from the Bible. Look at Deuteronomy chapter 6 in the Old Testament. The basis of our laws comes from this part of the Bible. Many people also do not know that the current bankruptcy laws that originated in 1898 were put in place due to a large movement of the church in America. Creditors were being unmerciful in dealing with debtors (does this sound familiar?) and the church took steps to address the creditor problems.

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