T
he word bankruptcy comes from the Italian words banca rotta, meaning “broken bench.” Back in Medieval times, merchants used to set up benches, or counters, for business in market places. If they went bankrupt through the mismanagement of funds, their bench would be broken, signifying that they had made bad deals and were out of business. Over time the word “bankrupt” has come to refer to those who are unable to pay their bills.
Bankruptcy — the condition of not being able to pay off debt — has been around for a long time.
In ancient Greece, if a person wasn’t able to meet their financial obligations, they were forced into debt slavery. All their assets would be confiscated, and then the unfortunate debtor along with his wife, children and servants would be made into slaves for a period of five years. The city of Athens had lost so many of its citizens to debt slavery that a ruler by the name of Solon passed a law forbidding the practice.
Genghis Khan, the Ruler, who conquered China and most of Asia, decreed that a person who went into bankruptcy for the third time in their lifetime should suffer the death penalty.
Many countries in Western Europe maintained debtors’ prisons. Back in the Age of Victoria, a man who owed as little as 40 shillings could be sent to prison until his family could afford to pay off his debt. Prison houses had deplorable living conditions. Charles Dickens, the famous English novelist, experienced seeing his own father spend time in a debtors’ prison.
Unable to Pay
Financial bankruptcy causes pain and hardship. But there is another type of bankruptcy in the spiritual realm even more devastating.
This other type of bankruptcy affects 100% of the human population and includes everyone, from the rich down to the poor. Sometimes the rich might think that this bankruptcy doesn’t apply to them. This is false, because all the silver and gold in the world can’t redeem a soul from death.
Each individual has been given one lifetime to resolve this bankruptcy.
This bankruptcy is due to the debt of sin. It is a debt we have all incurred. “All have sinned, and come short of the glory of God” (Romans 3:2323For all have sinned, and come short of the glory of God; (Romans 3:23)). If the debt is not paid off in time, those who owe it will be forced to stand before a great Judge who has the power to send them away into everlasting punishment. “These shall go away into everlasting punishment: but the righteous into life eternal” (Matthew 25:4646And these shall go away into everlasting punishment: but the righteous into life eternal. (Matthew 25:46)). The prison house of hell has completely deplorable conditions. Those sent to the place will know the depths of misery and sorrow for all eternity.
The only way to be delivered from this state of spiritual bankruptcy is to come to the right person who has limitless resources to help.
Full Payment
There is good news for bankrupt sinners. “Christ Jesus came into the world to save sinners” (1 Timothy 1:15). Through the death and resurrection of the Lord Jesus, God has made a way that the debt of sin might be paid for all those who believe. “Who was delivered for our offences, and was raised again for our justification” (Romans 4:2525Who was delivered for our offences, and was raised again for our justification. (Romans 4:25)). Will you come by faith to the Lord Jesus Christ who is willing to share the riches of His grace with all who trust Him? “Ye know the grace of our Lord Jesus Christ, that, though He was rich, yet for your sakes He became poor, that ye through His poverty might be rich” (2 Corinthians 8:9).
The best advice you will ever receive is to get out of spiritual bankruptcy NOW by believing on the name of the Lord Jesus, and then use the rest of your life to love and serve Him. Be wise and take this advice while there is time. If you linger, you may end up forever too late.
Not only does God provide full payment for sins, but He also gives far beyond that. Read about that provision in The Safe Zone.