Nobody likes to admit defeat. For some people, filing bankruptcy means just that. It means that they have failed at repaying the debts that seem to be mounting daily. The whole idea of filing bankruptcy is an ominous one that often has a negative stigma attached to it. Every year, many Americans face the trauma of bankruptcy.
The trauma of bankruptcy has many facets. First, it affects people financially. Many times, it means having to give up a vehicle or even a home that you can no longer afford. It may mean you’ll no longer be able to secure loans easily since the trauma of bankruptcy can follow you for years to come.
Along with the financial trauma of bankruptcy comes the emotional trauma of bankruptcy. For many people, bankruptcy was something they tried to avoid at all costs. They fought diligently to pay off the bills in order to avoid filing bankruptcy, and in the end were unsuccessful. The feeling of failure is something that affects a person profoundly.
If you are facing the trauma of bankruptcy, be comforted by the fact that filing bankruptcy doesn’t have to be a negative experience. For some people, it has been just the opposite. It has been a burden lifted from their shoulders as they are able to regain control of their financial obligations with a fresh new start. It means facing the future with a clean slate and no previous financial obligations. For many people, it can be a wonderful new beginning.
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