The emotional toll of bankruptcy filing is a great one, and something not to be underestimated when considering your next moves. Filing is hard enough, but then afterward this will follow you around for years. If you don’t take the time to face the emotional side of this, it will hold you back and stop you from moving forward in your life.
Before you even file, the emotional aspect of this stops many people from actually doing it, and they put off making the decision for a very long time. During this time, you will most likely end up further in debt, worsening your situation and making this last even longer, making it even more emotionally difficult. Facing the situation and taking action is the only way to really make this go away and deal with it.
Once you finally file and go through the entire process, things don’t really get easier.
Immediately after things have been finalized there are a lot of things you can do to start rebuilding your credit and get your finances back on track, but many people put it off because they’d rather hide from pretty much anything involving finances. The fact is, though, that bankruptcy will invade all parts of your life. This will come up when you go to apply for jobs, find a place to live, get any kind of insurance, rent a car, etc. With this being everywhere, the best thing you can do for yourself is face your finances and try to rebuild things and improve your situation. You simply cannot hide from it.
By facing your many feelings about the situation (shame, disappointment, anger, injustice, guilt) you can really start to take control and come out of this a stronger person. Don’t let feelings like embarrassment hold you back! Bankruptcy is a tool that is there for when your finances have gotten out of control–for whatever reason–and is a way for you to start over. But you can’t really start over unless you have the courage to stand up and make that happen–so make it happen!
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