The United States is unique in the world as to its bankruptcy laws.
No other country gives its ordinary citizens the ability to start fresh,
without debt, without stripping them of almost all their possessions.
Bankruptcy is a biblical law. Its origins are
in Deuteronomy 15:1‐2, which states, “At
the end of every seven years you shall
grant a release. And this is the manner
of the release: every creditor shall release what he
has lent to his neighbour. He shall not exact it of
his neighbour, his brother, because the LORD’s
release has been proclaimed.”