Dealing with the Emotional Side Effects of Bankruptcy
In your mind, you know filing for bankruptcy is the right decision for you. You must take the logical step to relieve yourself of a burden that is crushing you and permit yourself to crawl out from under that load and begin anew. Your mind knows this is a reasonable solution to your problem, but your heart is having a harder time accepting the fact. It is vital that you confront these emotional and psychological issues in order for you to start to rebuild your financial life, but how do you deal with the emotional side effects of bankruptcy?
More Info on Side Effects of Bankruptcy
- Honolulu Bankruptcy Attorney
The Hawaii law office of Abelmann Law LLLC is devoted to clients and their need to eliminate debt. Call 808-554-0104 to schedule a free initial consultation.
- Top 10 Bankruptcy Questions
Filing for bankruptcy is an important decision, so it is only natural to have bankruptcy questions before making a final decision. Due to the important of filing for bankruptcy it is imperative to have all...
- Hawaii Bankruptcy
- What are the side effects of filing bankruptcy on your professional life
Confront Your Negativity
When someone files for bankruptcy, it is not uncommon for him or her to feel a sense of failure. Since many of us judge our success or failure by our financial standing, our self worth lowers when we find ourselves in a position we didn’t choose. Self-confidence wanes and self-esteem shrinks. We feel out of control and experience a lack of trust in our abilities and for the world at large.
Those emotions are not beneficial to anyone. If they are allowed to continue, they will hurt your chances for a brighter future. A few days of mourning for your financial losses are acceptable, but then you must find a way to create a more positive attitude. Once the mourning period is over, refuse to allow yourself to indulge in feelings of anger or self-pity any longer.
Begin by reminding yourself repeatedly why the bankruptcy laws were created. The courts realized that sometimes things happen that are out of people’s control. Many people who file for bankruptcy in Minnesota have been placed in that position through no fault of their own. Bankruptcy was designed to help citizens get past that point and go on to lead a successful life.
Remember, you are not alone. Many honest, intelligent people have needed to take advantage of bankruptcy protection, including celebrities and even US presidents. Abraham Lincoln actually filed for bankruptcy twice in his lifetime.
What is Bankruptcy
Give it a Positive Spin
Focus on the advantages of bankruptcy. You now have the opportunity to start fresh. You will no longer have to deal with the constant harassment of creditors or worry about having your wages garnisheed. You don’t have to be afraid to answer the phone or go to the mailbox. That alone eliminates an enormous amount of stress in your life. You can breathe again.
Take the opportunity to learn new financial management skills. Talk to a financial counselor and learn how to establish a budget. Set reasonable financial goals and challenge yourself to meet them. Break old habits like buying yourself something new when you’re feeling down. Learn new ways, such as exercise or a hobby, to deal with stress. Most important of all, maintain a sense of humor. Positive emotions play a definite role in maintaining our physical health and no amount of money can replace that.
No one likes the idea of filing bankruptcy, especially since Minnesota bankruptcy law can be so confusing.. It can play havoc with your emotions. Even though you may feel like your life has spun out of control, remember, it is only temporary. This is a new beginning for you. Take a deep breath, relax and make the most of it. It won’t be easy, but you can do it.
More by this Author
Whether you are constructing a new concrete floor or revamping an old one, there are several different coatings you can choose to finish the project. When you are unfamiliar with this process, it's not unusual to feel a...
If you were arrested or detained by the police or another person and you feel their actions were unjustified, is it possible to sue for false arrest? Under some circumstances, it is. Police misconduct does not always...
Assault, according to our judicial system, occurs when an individual intentionally uses force to control another person in a situation where the other person has not consented. Assault can occur in a number of different...