People who are filing for bankruptcy are often facing a lot of emotional turmoil simply because they know they have bills they can’t pay. Once the realization comes that they need to file bankruptcy, it can invoke even more emotions.
It may surprise you to think that you’ll likely have a range of emotions when you decide to file and throughout the process. Being prepared for these may make them a little easier to handle.
Complex emotions are possible
Most people feel relief that they’re getting control over their financial situation. At the same time, some also feel disappointed that they couldn’t cover their obligations, especially if they feel they were responsible for the circumstances that led to the financial trouble. It’s also common to feel upset or angry because of the circumstances that led to bankruptcy. Having these at the same time or back-to-back may be hard to deal with.
Instead of looking at bankruptcy as a negative point, remember that it is a legal way to be responsible for your finances. Part of the bankruptcy process involves credit counseling and a debtor education course. These should help you to feel empowered, which may also make it easier for you to overcome the negative emotions that come with bankruptcy.
Stress is another common emotion that comes with bankruptcy. This may be caused by uncertainty about the process. Working with someone who’s familiar with the bankruptcy process may be beneficial so you can find out what to expect. This can help to ease the stress of the bankruptcy process.