Bankruptcy – Old Testament
You might be interested to know that Congress named Chapter 7 after the seven year debt forgiveness rule contained in the Old Testament of the Judeo-Christian Bible. The English Standard Version reads as follows:
“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 neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed.” Deuteronomy 15-1, 2.
This passage is well worth reading. Biblical scholars agree that this passage was written about four thousand years ago. This means the idea of periodic debt forgiveness has been around for a long time, and is an integral part of Western culture.