Filing personal bankruptcy.
Bankruptcy. It’s emotionally devastating to think about it.
Fear of the unknown, fear of loss, feelings of failure, embarrassment, shame, isolation, powerlessness.
Often we are afraid to ask even those closest to us, family members, our spouse, people we love and trust, because we don’t want them to know that our financial lives are out of control. We don’t want anyone to find out. We keep hoping things will change for the better but it only seems to get worse.
The paralysis we feel when we think about our finances, the powerlessness, is awful. Even people who are typically energetic, optimistic, and “take charge” people – end up sinking further and further into depression and debt because they can’t seem to bring themselves to reach out for help. Filing personal bankruptcy can be difficult for even the A type person.
There are lots of reasons to file for personal bankruptcy. Loss of job, loss of health, accident, sickness, marital difficulties, divorce and separation are often reasons why people suffer financial setbacks. It’s a cruel blow, because any of these things – all by themselves – are difficult enough to overcome – but the additional burden of financial failure makes everything seem 10 times worse.
Sometimes there is no single reason why you may need to file for personal bankruptcy. Sometimes you sink slowly into debt, charging more and more on credit cards, and suddenly waking up one day and realizing that there’s no possible way that you’re going to be able to overcome the overwhelming debt that’s burying you.
When considering filing personal bankruptcy, you often need help but don’t know where to turn.
Sometimes the best way to begin is to search the Internet. Like you’re doing now.
Internet research is a good way to start the process, but ultimately you’re going to want to talk to a counselor. Often times talking to friends, family, coworkers is difficult. We don’t want them to know about our personal problems because we’re embarrassed.
Going to see a counselor is a good idea but you may be skeptical of the information that you get. Rightly so, because sometimes the counselor is trying to sell you his solution, even if something else would work better. Some counselors are only out to sell the product that they offer. So, when you go to see a credit counselor they might tell you credit counseling is the answer. Debt management programs will tell you the debt management will solve your problem. And, of course, the bankruptcy attorney sells bankruptcy.
Having been my own financial crisis, and, understanding overwhelming debt in a way that only comes through personal experience, I know exactly how you feel. Because I want through my own financial meltdown, and had to reach out to others to help me, I know how it feels. It’s easier to file personal bankruptcy when you have an understanding counselor, one who knows how you feel because he has been there.
That’s why I became a certified bankruptcy specialist, certified credit counselor, and certified debt specialist so that I could help identify and compare all of the available options for you. And, for this very reason, about 30% of the folks who come to me for help, many of whom think they need to file personal bankruptcy, end up with a recommendation from me not to file bankruptcy. Fact, one of the happiest things I do everyday is tell people they don’t need to file bankruptcy. Often I can identify a non-bankruptcy solution that will work as well as, or even better than a bankruptcy.
I know, because I’ve been there, that when you’re starting over from ground zero, no savings, a mountain of debt, and a pretty big uphill climb in front of you, that credit, good credit, may seem a long way off. Happily, this doesn’t have to be the case.
As a credit counselor, I can show you how to rebuild credit amazingly quickly. I regularly have clients come back to me a short time after completing they file personal bankruptcy and proudly report credit scores 650, 700, and higher within one year of completing my program.
If you’re thinking of filing a personal bankruptcy, you need to get all the information that you can. The Internet is a good place to start. The next step will be to seek out financial counselor you can trust, one who will be able to help you sort out all the different options that you have available to you.