Jewish Bankruptcy Attorney in New York City
When people in New York City need legal representation for any matter they will often look for an attorney of similar faith. Bankruptcy is no different, and we have people of all faiths come to our office wanting to know about not only the financial consequences of bankruptcy, but the moral consequences as well. The decision to file bankruptcy is a big one and every client needs to weigh the pros and cons for their situation. Most of our Jewish clients, and Christian clients too, find some relief in the fact that the principles of debt forgiveness that define modern bankruptcy have their roots in the values all modern religions share.
Because the Torah says the obligation to repay your creditor is absolute there is naturally some difference in opinion among Jewish religious leaders about the morality of bankruptcy, but in a secular society bankruptcy is generally regarded as acceptable even for religious Jews. Financial difficulty of one member of a society is considered a communal problem in a Jewish culture and it becomes the obligation of the community to help get a fellow member back on their feet. Although bankruptcy law is more forgiving to a debtor than traditional Jewish law may be, the responsibilities of a debtor must be weighed against this communal responsibility to help get them back on their feet. On the one hand a debtor has a responsibility to repay his creditors, but on the other the traditional Jewish community exists to help people who have fallen upon hard times. Historic Jewish communities would absorb the bad luck of their peers, and even today there is a mitzvah stating Jews should donate at least 10-20% of their annual earnings. When viewed in this context it’s agreed upon by most Jewish leaders that the bankruptcy discharge is in accord with Jewish teachings and entirely moral to pursue.
Having an attorney that shares your religious beliefs can make the bankruptcy process more comfortable. Most of our clients want to know that they will be receiving not only the best legal advice, but the best legal advice that is also morally acceptable. Your decision to file bankruptcy should only be made after consulting your attorney and your Rabbi, but when you find you are ready to take the first steps please contact the Law Offices of William Waldner online or at 212.244.2882 to arrange a free bankruptcy consultation today. We only practice bankruptcy law, and have a 99% Chapter 7 bankruptcy discharge record in New York City as of 9/31/16.
This article is intended for educational purposes only. By reading no attorney-client privilege has been created.