chapter 7<\/a>, and you can download it for free. Thank you so much for listening and have a great day.<\/p>\n","protected":false},"excerpt":{"rendered":"Book.<\/p>\n
Transcript:<\/p>\n
Hello, this is Jeff Kelly and Today is July 1st, 2019. Today I want to talk about, \u201cis it a sin to file bankruptcy?\u201d We actually got this question from a potential client this past week. I\u2019ve been a bankruptcy attorney for, gosh, over 21 years now. So, do I believe that is a sin to file bankruptcy? Absolutely not. Of course, it\u2019s not. What a lot of people are really shocked to find out is that our entire bankruptcy system was actually inspired by the Bible. If you don\u2019t believe me, go check it out yourself. Deuteronomy chapter 15 talks about this thing called the Jubilee where all the debts got wiped out every seven years.\u00a0<\/p>\n
Now personally, I believe that God did not want Israel to be a nation of economic slaves. So, there is a safety valve here called the Jubilee. Well, this country was founded by people who did read the Bible and I believe they were inspired to create a bankruptcy system. And they believed in it so strongly that it\u2019s actually written into the United States Constitution. It\u2019s been there since the beginning, because these guys did not want to have a nation of economic slaves. And it makes sense. If you\u2019re going to allow people to charge high interest rates, or if we\u2019re going to allow interest to be charged at all. You got to have a safety valve and that safety valve is the bankruptcy system. Now, a lot of people who complain and moan and groan about our bankruptcy system have no clue how it actually works. They think it\u2019s just some magic wand that somebody just waves or a button they press, and all their debt just magically goes away. Well, that Not the case. Okay. The bankruptcy system is, there\u2019s a lot of checks and balances in this. When someone files bankruptcy, you have to produce your tax return to the trustee for them to verify your income. You also have to produce paycheck stubs showing how much you make, you have to sign court documents listing all of your assets, the value and the debts before you can get a discharge of your debts in bankruptcy. And if somebody has, you know, this huge, ginormous house, and they it\u2019s worth a ton of money are they going to be able to file bankruptcy and wipe out their debts? Well, of course not. In Georgia, the maximum for a married couple, it\u2019s $43,000 of equity. If somebody has more than that they\u2019re not going to be able to wipe it out. So it is a good system because there are checks, there are balances.\u00a0<\/p>\n
And another point that I want to stress is If we didn\u2019t have a bankruptcy system, what would this country look like? Well, first of all, people would not borrow money, people wouldn\u2019t be willing to take risks to buy houses and business and so forth. That would be very, very bad for this econo<\/p>\n","protected":false},"author":1,"featured_media":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"sync_status":"failed","episode_type":"","audio_file":"https:\/\/episodes.castos.com\/5f9b51bcb328e0-44228460\/is.it_.a.sin_.to_.file_.bankruptcy.mp3","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"9.7M","filesize_raw":"10174102","date_recorded":"","explicit":"","block":""},"tags":[],"series":[21],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"episode_featured_image":false,"episode_player_image":"https:\/\/kellybankruptcy.com\/wp-content\/plugins\/seriously-simple-podcasting\/assets\/images\/no-album-art.png","download_link":"https:\/\/kellybankruptcy.com\/podcast-download\/608\/is-it-a-sin-to-file-bankruptcy.mp3","player_link":"https:\/\/kellybankruptcy.com\/podcast-player\/608\/is-it-a-sin-to-file-bankruptcy.mp3","audio_player":null,"episode_data":{"playerMode":"dark","subscribeUrls":{"apple_podcasts":{"key":"apple_podcasts","url":"","label":"Apple Podcasts","class":"apple_podcasts","icon":"apple-podcasts.png"},"stitcher":{"key":"stitcher","url":"","label":"Stitcher","class":"stitcher","icon":"stitcher.png"},"google_podcasts":{"key":"google_podcasts","url":"","label":"Google Podcasts","class":"google_podcasts","icon":"google-podcasts.png"},"spotify":{"key":"spotify","url":"","label":"Spotify","class":"spotify","icon":"spotify.png"}},"rssFeedUrl":"https:\/\/kellybankruptcy.com\/feed\/podcast\/kelly-bankruptcy","embedCode":"
Is it a Sin To File Bankruptcy?<\/a><\/blockquote>