Emotions During Bankruptcy
There’s no putting a pretty spin on it: going bankrupt—whatever the reason—can be emotionally traumatic. Some have likened it to experiencing a severe physical illness. Despair is just one of the many feelings that may accompany financial duress. Some may be surprised to discover that there are some very positive emotions connected with filing for bankruptcy, as well.
A Range of Emotions
Bankruptcy affects different people in different ways, so whatever you are experiencing, know that it is okay and perfectly normal. Some of the feelings you may be dealing with include:
- Shame: Even if circumstances beyond your control contributed to your financial problems, acknowledging that you have to turn to bankruptcy can make you feel like a failure. Sometimes cultural norms make you feel like everyone knows that you are a disappointment who botched your family’s stability.
- Guilt: You may second guess your decisions leading up to bankruptcy, and wonder if your family would be better off without you,
- Despondency: You may lack the desire and energy to fight back against the forces that led you here. It may seem easier to stay in bed under the covers and let the world pass you by.
- Isolation: Not only can you no longer afford to socialize; you feel like hiding so your situation is as clandestine as possible. You have no desire to discuss your circumstances with others, even close friends and family.
- Depression: You’ve been experiencing financial stress for quite a while if you’ve filed for bankruptcy. That can wear on a person, physically, mentally, and emotionally.
- Apprehension: You may find yourself fretting about the possibilities going forward—how will it all pan out? Uncertainty can wreak havoc on your psyche.
On the Other Hand…
The emotions associated with bankruptcy, however, needn’t be all bad. Consider:
- Relief: No more nights scratching your head at the kitchen table wondering how you’re going to manage all those bills. No more creditors from sun-up to sun-down. That means no more avoiding phone calls, knocks on the door, and strangers who look like they may want to approach you. Whew! You can breathe again!
- Hope: That’s right—your future looks brighter without the weight of all that debt. There will be some rough moments, to be sure. But you can see a light at the end of the tunnel, because with a little focus and elbow grease, it’ll likely take less time to get on your feet than it took to get in this mess to begin with!
Your Legal Advocate
The experienced, caring Miami bankruptcy attorneys at the Law Office of Julia Kefalinos always work toward the best possible outcomes for you. To discuss, schedule a confidential consultation in our Miami office today.
Source:
ccadvising.com/articles/bankruptcy-stigma-is-not-what-you-think
