Partner With Dinonline.org – Click Here 

Personal Bankruptcy

Question:

If a person experiences difficult financial times and begins to fall behind in his/her credit card payments. Is it halachally permissible to declare personal bankruptcy? Thanks

Answer:

It would be permissible to declare personal bankruptcy, although one should bear in mind the element of a possible Chillul Hashem.

The concensus of the Poskim is that personal bankruptcy does not release the debtor from his obligations to pay his debts to his creditors.

Leave a comment

Your email address will not be published. Required fields are marked *