Dear Brothers and Sisters,
Recently, I have been walking alongside a friend who may soon face bankruptcy.
As I journey with him, I can sense the emotional struggle within him. He finds it extremely difficult to accept what may be ahead. Like many people facing a financial crisis, his first instinct is to fight with all his might to avoid it. While that determination is understandable, I have also seen him become tempted to consider unrighteous, and perhaps even unlawful means to escape his predicament.
That saddened me.
It also reminded me of an important question.
Is bankruptcy a crime?
The answer is no.
However, it would be tragic if, in trying to avoid bankruptcy, someone ends up committing a crime or compromising his integrity. A damaged financial record can eventually be repaired. A damaged testimony before God and before others is far more difficult to restore.
Jesus asked,
"What good is it for someone to gain the whole world, yet forfeit their soul?" (Mark 8:36)
No amount of money is worth sacrificing our integrity.
In Singapore, bankruptcy is not intended to be a life sentence. Under normal circumstances, a bankrupt may be considered for discharge after about five years, subject to meeting the legal requirements. Even our legal system recognises that people deserve an opportunity to rebuild their lives.
How much more does our heavenly Father delight in restoring His children?
Throughout Scripture, God repeatedly demonstrates that failure is not the end of the story.
Joseph was sold into slavery and wrongly imprisoned before becoming the governor of Egypt. Moses spent forty years in the wilderness before leading Israel out of Egypt. Peter denied Jesus three times before being restored to shepherd the early church.
None of them would have chosen those painful seasons. Yet God used each one to shape their character before entrusting them with greater responsibility.
Sometimes, God does His deepest work in us during our darkest seasons.
This does not mean that every bankruptcy is God's direct will. Financial hardship can arise from many different causes. Some businesses fail because of economic downturns. Some people become bankrupt because they stood as guarantors for others. Others borrowed excessively or spent beyond their means. Sometimes, circumstances outside our control play a significant role.
Whatever the reason, every difficulty presents an opportunity to grow in wisdom, humility and dependence upon the Lord.
James wrote,
"Consider it pure joy, my brothers and sisters, whenever you face trials of many kinds, because you know that the testing of your faith produces perseverance. Let perseverance finish its work so that you may be mature and complete, not lacking anything." (James 1:2–4)
Instead of asking only, "Lord, how do I get out of this?"
Perhaps we should also ask,
"Lord, what are You teaching me through this?"
Could this be a season where God is teaching us contentment?
Could He be reminding us that our security is found in Him rather than in our bank account?
Could He be reshaping our priorities and drawing us closer to Himself?
The prophet Isaiah beautifully reminds us,
"Yet You, LORD, are our Father. We are the clay, You are the potter; we are all the work of Your hand." (Isaiah 64:8)
The potter never gives up on the clay. He patiently moulds it until it becomes useful for His purpose.
Likewise, God is never finished with us.
I am still in the midst of encouraging my friend to trust the Lord, whatever the outcome may be. Of course, I continue praying that he will not become bankrupt. There is nothing wrong with praying for God's intervention. We should always seek His mercy and provision.
Yet if the Lord allows this season to come, we can also trust that He will provide the grace to walk through it.
After all, our greatest need is not always for our circumstances to change immediately. Sometimes our greatest need is for our hearts to be changed.
As the Apostle Paul wrote,
"And my God will meet all your needs according to the riches of His glory in Christ Jesus." (Philippians 4:19)
Every difficult experience should leave us wiser than before.
Here are three practical reminders that may help us avoid financial distress.
First, live within your means.
Consumerism constantly tells us to spend more, own more and upgrade more. God's wisdom teaches the opposite, contentment.
"Keep your lives free from the love of money and be content with what you have." (Hebrews 13:5)
Second, be extremely cautious before standing as a guarantor for someone else's debts.
The book of Proverbs warns about this repeatedly, not because God wants us to be selfish, but because He wants us to exercise wisdom.
"One who has no sense shakes hands in pledge and puts up security for a neighbour." (Proverbs 17:18)
Helping someone financially is one thing. Becoming legally responsible for another person's debts is quite another.
Third, manage your business prudently.
Growth is good. Ambition is not wrong. But growth without wisdom can become dangerous. Avoid excessive borrowing and never assume that good times will continue forever.
Over the years, I have summarised this into what I call the Three R's of Borrowing:
Borrow Reasonably — borrow only what you genuinely need.
Borrow Responsibly — ensure you have the financial ability to repay.
Borrow with Risk Management — always prepare for unexpected downturns. Build buffers and remember that business cycles are inevitable.
As Proverbs reminds us,
"The prudent see danger and take refuge, but the simple keep going and pay the penalty." (Proverbs 22:3)
Finally, if you are currently facing financial difficulties, please remember this:
Your financial condition does not determine your value before God.
Your worth is not measured by your net worth.
You were purchased by the precious blood of Jesus Christ.
No debt is too large for God's grace.
No failure is beyond His redemption.
No broken life is beyond His restoration.
Our God is the God of new beginnings.
Perhaps today feels like the end of a chapter.
But in God's hands, it may simply be the beginning of a better one.
"Trust in the LORD with all your heart and lean not on your own understanding; in all your ways submit to Him, and He will make your paths straight." (Proverbs 3:5–6)
May the Lord grant each one of us wisdom to manage our finances faithfully, courage to face every trial with integrity, and peace to trust Him even when life does not unfold according to our plans.
Blessings,
David Poh
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