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You Deserve Financial Relief

Russell G. Small and Kenneth Lenz

Coping with the emotional aspects of bankruptcy 

On Behalf of | Aug 1, 2022 | Bankruptcy

The realization that you aren’t earning enough money to take care of all your credit obligations is one that’s serious. You may quickly determine that your goal is to get out from under all that debt. While some people may be able to do this by taking another job and making payments, that’s impossible for some people. 

For many, the best option on the table is filing for bankruptcy. This is a legal proceeding that enables you to get rid of debt, but it comes with some requirements. For example, you’ll have to go through credit counseling and take a class on money management.

Expect your emotions to be stronger than you initially expected

Emotions during bankruptcy can swing between relief that you’re getting rid of the debt to despair because you may feel bad about having to file. As these emotions appear, you should address them so they don’t become overpowering. 

One thing that might help you is to remember that bankruptcy is a process that was built into the legal system, and it’s perfectly acceptable to use to obtain a fresh financial start as long as you’re using it honestly. This isn’t something to be ashamed about. Instead, think of bankruptcy as the responsible way to take care of debts that have become far too much for you to handle. 

If you’re getting ready to file for bankruptcy, be sure that you learn more about the process. You need to know your rights and responsibilities, including the alternatives. Since every situation is unique, experienced legal assistance is essential to a positive outcome.

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