This is when a person or company is unable to pay debt owing to their creditors. They are financially powerless (Mt 18:23-25).

In modern life there are several factors that bring about financial difficulties including other companies being unable to pay. This sets off a ripple effect adversely affecting many others. Some people borrow heavily to get rich quick investing in unsustainable ventures which they have not diligently researched or because of cost overruns they can't complete what they have started (Lk 14:28).

Spending beyond their income is a serious problem for many people, purchasing things they don’t need with money they don’t have to impress people they don’t love – often using credit cards. Budgeting and self-discipline are important skills to master in order to resist advertising hype like ‘You must have’ or peer pressure for “A man’s life does not consist in the abundance of their possessions” (Lk 12:15).

Humanity is also spiritually bankrupt for “All our righteous acts are like filthy rags…” (Isa 64:6). Jesus is our only hope of salvation. We are indebted to Him for redeeming us (buying back).

As believers the life of Christ in us should be a bountiful source to enrich us and minister His grace to those around us. The counsel to us is, "Draw from the wells of salvation" so we are not impoverished and have nothing of spiritual value to give out (Isa 12:3). Jesus said the water of life that He imparts 

In Christ we are rich

(referring to the Holy Spirit) will become in His believers a spring of living water, that is to flow out to the parched needy people around us (Jn 4:14, 7:38). The challenge of Jesus to us too is, "They do not need to go away [hungry]. You give them something to eat" (Mt 14:16).

Unfortunately, some compassionate Christians give out more to those in emotional need to those around them, and fail to receive adequately from the Lord and as they are running on empty they experience burnout.

See also: budgeting, burnout, credit cards, debts, money.