CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Tips for Dealing with the Emotional Side of Bankruptcy

Bankruptcy is often a practical decision that enables you to organize your financial situation and repair damage that has been done. However, bankruptcy can also be an emotional decision for some. And even if the initial decision to enter into bankruptcy isn’t emotional, the process of repairing your financial situation and getting a fresh start can prove to be an emotional experience.

In some ways, the emotions that accompany bankruptcy are positive. Many people feel hope and an optimism about the future they haven’t felt in some time. They also feel relief – not only that they won’t need to deal with the day-to-day frustrations of money struggles, but also that they are turning a corner toward a bright future.

Unfortunately, there might also be negative emotions connected to bankruptcy. For many, this is because the idea of filing for bankruptcy leaves them feeling hopeless. They might feel as if they have made mistakes that led them down this path or they might feel manipulated or preyed upon by creditors.

There are several things you can do to help you through the negative emotions of bankruptcy.

Commit to a Brighter Financial Future

First and foremost, realize that even if bankruptcy is needed because of mistakes you made, there is no reason to continue beating yourself up about things you did in the past. You should learn from those mistakes, but you should also realize that by filing for bankruptcy, you are putting an end to the problem and finding a solution to the problems you created.

Educate Yourself

Another tool you can use to help you deal with the negative emotions you might feel about your bankruptcy is by enrolling in credit counseling. Basic counseling programs are required when you file for bankruptcy, but you can take things a step further. Make it a priority to learn all you can about debt and credit, and then use that knowledge moving forward. The more you learn about bankruptcy and credit the more confident you’ll feel in the future.

You can learn more about bankruptcy education here.

Understand Bankruptcy is a Tool

It’s also important to understand bankruptcy is a tool and not something you should feel bad about. There are a number of negative connotations connected to bankruptcy, most of which are misleading. The bottom line is you are making an effort to make your situation better and create a more organized situation in the future.

Seek Assistance from a Bankruptcy Professional

Finally, working with an experienced bankruptcy professional can go a long way toward helping you feel better about filing for bankruptcy. Often times the negative emotions connected with bankruptcy are due to fear. By working with someone who answers your questions and helps you feel confident about your decisions, you are removing fear from the bankruptcy equation. You’ll understand your options and be able to determine if bankruptcy is the best choice for you. Once you know filing is the right thing to do, you can do so with clarity and confidence.

If you are concerned about bankruptcy or you feel you have an emotional block that is preventing you from taking a financial step forward, we can help. For more information or to schedule a free consultation, contact the Law Offices of Robert M. Geller at 813.254.5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

5 Common Budgeting Mistakes Newlyweds Make and How to Avoid Them

Budgeting mistakes are common, especially when you’re young. Not all newlyweds are young adults, but many first-time marriages do involve...
Read More

When Should Married Couples File for Bankruptcy Together?

There's no easy answer to the question of timing when it comes to bankruptcy. In some cases, it may make...
Read More

Can Your Spouses Debt Force You Into Bankruptcy?

If you're married and your spouse has a lot of debt, you may be wondering if that debt can force...
Read More

Do You Need a Bankruptcy Attorney If You’re Divorcing with Financial Problems?

Divorce and bankruptcies are more common than many people realize. Financial problems make a stressful transition even more difficult. If...
Read More

Can You File Bankruptcy without Your Spouse?

Filing for bankruptcy is a decision that should not be taken lightly. It can affect your financial life and the...
Read More

How Seniors Can Avoid Bankruptcy

Seniors are at a high risk of bankruptcy, but there are ways to avoid it. What do you need to...
Read More

What Happens If I Own Too Many Assets to File for Chapter 7?

Does hiding assets in bankruptcy protect them from your creditors? If you own too many assets to qualify for Chapter...
Read More

How to Find the Best Lawyer for Filing for Bankruptcy after Retirement

Many retirees decide to file for bankruptcy as a way to get a fresh start. But finding the right lawyer...
Read More

Does Declaring Bankruptcy Affect My Retirement Savings?

When you're struggling with debt, the thought of bankruptcy might cross your mind. But what would that mean for your...
Read More

Is a Reverse Mortgage Right for Me?

Reverse mortgages in Florida are loans that allow homeowners 62 and older to borrow against the equity in their homes....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions