During the time of the Old Testament, there was no such thing as bankruptcy. Sure, there have always been people who for some reason or another could not repay their debt but there was no legal method in place which allowed them to avoid repaying their debt in full.
In 2 Kings 4:1-7, a woman with no means to repay her debt and who is also a widow, asks the prophet Elisha, what can she do? Elisha told her to gather as many empty oil vessels as possible from her neighbors. Next, he told her and her sons to go inside and begin to pour their existing, near empty oil vessel into the others. The woman and her sons filled up all the vessels from the one near empty vessel and the oil then stayed. Elisha then told the woman to sell the oil and repay her debt.
Bankruptcy is not, was not, still is not God's way. Our LORD provided for this woman. We don't know nor can we judge where, when and how she got into debt. We can, however, see that God made a way out of no apparent way. Without God, this woman and her sons would have become debt-slaves which was customary at the time when a person could not repair their debts. However, God made a way for her and her children and they survived.
May God bless us all in such a way. LORD, in the name of Jesus, help us to pay our debts in full and never return to them. Give us peace and contentment in your ways and in your word that we may be full of your grace, mercy and provision. We ask that you take charge of our finances, deliver us from the evils of debt and help us to be fiscally responsible and prosperous that we may lend and give to those around us. As a result, showing the love, mercy and grace God has promised to all that will believe in Him.
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