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.
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.