This question and more is explored in depth by Indianapolis based bankruptcy attorney John Bymaster in his new book Is Bankruptcy Biblically Moral ?
John explores how our modern system of bankruptcy laws are rooted in many parts of scripture. He discusses how the founding fathers of our country knew this and why they included provisions for bankruptcy in our Constitution.
We have blogged on this in a past post which you can find by clicking here.
This is a fascinating area which most folks are not aware of. I highly recommend this book if you are considering bankruptcy and have concerns about the morality of filing.