Filing for bankruptcy can be one of the most stressful things that a person can ever contemplate doing, especially if one has been raised on the virtues of thrift. The sort of financial distress that leads to bankruptcy often leads to feelings of guilt and a diminished sense of self-worth.
The truth of the matter is that filing for bankruptcy does not make you a bad person, any more than taking medication to deal with a sickness makes you a weak person. There are, in fact, a number of reasons for bankruptcy most of which are beyond anyone's control.
To be sure many people find themselves facing bankruptcy because of poor financial decisions. Easy credit combined with the natural desire to have nice things have often led people down the path to financial difficulty. But making mistakes does not make you bad. It makes you human. Bankruptcy should be seen as a learning experience so that you can set your affair back in order and do better next time.
Very often people find themselves in bankruptcy through no fault of their own. A job loss, an economic downturn that affects a business, a sudden severe illness, and quite a few other things can damage you financially even if you have done all of the right things in handling money. Even the very rich can find themselves in difficulty if enough things turn bad.
The one thing to remember is that bankruptcy is part of the law that has been enacted to help people work out their financial difficulties and then move forward. You are likely to find that once you have filed for bankruptcy and have worked out a plan to restore your finances, your feelings of relief will be overwhelming. The return of a feeling of certainty will work wonders for your stress that you must be feeling because of being unable to pay the bills.
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