3 Common Negative Thoughts About Your Bankruptcy To Let Go Of Today

Some borrowers who are struggling under a mounting burden of debt do not realize that they have options that could allow them to restructure debt or get rid of it altogether. And even if the benefits of filing for bankruptcy are already clear to you, that doesn’t mean that proceeding is always easy even if you are sure that you are making the right decision for your financial situation. In addition to the many opinions that may come your way without being solicited from others who care about you, you may also have to battle thoughts of your own during the course of your bankruptcy proceedings. As the seasoned bankruptcy attorneys at Nowack & Olson, PLLC, we often hear some similar self-criticisms and fears from the borrowers we help. Three of the most common of these are discussed below.

I am a Failure

It can be very hard to avoid blaming yourself for ending up in a position where filing for bankruptcy seems to be the best option even if you didn’t cause the circumstances that led you there. Despite harmful generalizations, the bulk of borrowers who file for bankruptcy are doing so because of situations like medical bills and job loss. And regardless of the circumstances that led to you filing for bankruptcy, you shouldn’t be too hard on yourself. The most important thing at this point is the fact that you are undertaking actions to try to overcome your financial problems as opposed to avoiding or ignoring them. In our view, that is the trait of a winner, not a failure.

I am the Only One in This Position

It may feel as though you are the first and only person to ever need to file for bankruptcy, especially if you don’t know anyone else in your circle of family and friends who has ever done so. With millions of bankruptcies having been filed in the federal courts over the past few decades, you would probably be surprised by who you know who has also quietly gone through a bankruptcy proceeding. Either way, you should know that you are far from alone in finding yourself in a place of financial trouble. The good thing is that you are choosing to do something to improve your situation.

I Have to Go Through This Journey Alone

It may not feel like it, but you would probably also be surprised by how many of your loved ones will willingly support you throughout your bankruptcy journey if you choose to share what you are going through. In addition, it is imperative to have help from a legal team that is as committed to your bankruptcy petition as you are as you go through this process. As the Plantation bankruptcy attorneys at Nowack & Olson, PLLC, we know that the success of your petition for bankruptcy is important because it’s important to us too. You can depend on us to assist you every step of the way as you move toward a better financial future. This process begins with you contacting us for a free initial meeting where we can discuss the best pathway for your unique circumstances.

Resource:

uscourts.gov/news/2018/03/07/just-facts-consumer-bankruptcy-filings-2006-2017