The time leading up to bankruptcy is often one that’s filled with stress and anxiety because of the attempts debt collectors make to get money from you. Those attempts are often a reminder that you’re on a shoestring budget and don’t have the ability to make those payments while keeping up with normal life expenses.
Once you realize that you need to act, you may decide to file for bankruptcy. You might assume that you’ll feel relieved once you take this step. While that’s typically one of the primary feelings, you should be prepared for others that might occur.
A roller coaster of emotions is possible
The roller coaster of emotions might start as soon as you realize that you need to file the bankruptcy. Some people feel a sense of shame because they have to take this step. It’s important to remember that this is a legal option to help people who need a fresh financial start. In most cases, people find it necessary to file bankruptcy because of situations they couldn’t control, so there’s no shame.
You may be surprised to experience a fear of the future. After the bankruptcy is done, you’ll have to work on rebuilding your credit. That will take a lot of work, and you may be focused on making solid financial decisions. You can fall back on the things you learned during the courses you took during bankruptcy to help you make the decisions that are in your best interests.
Having experienced legal guidance throughout bankruptcy may be beneficial. This can help you to fully prepare for each step and move through them with confidence.