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Why guilt should not stop you from filing bankruptcy

There is no shame, no stigma and no scarlet letter in filing for bankruptcy. Ignore the voice in your head telling you otherwise. And ignore that know-it-all friend or judgmental father-in-law. With bankruptcy, you are taking control of your financial life. While you may have gotten a late start, you have made the decision and are firmly in charge. Bankruptcy is an effective financial tool for people with major debt problems.

Whether you are overcome by credit card debt, addicted to excessive spending habits or faced with sudden and untimely medical bills, you understand that you have a problem, and bankruptcy provides a solution. Now, you can carry on with a fresh outlook about money and spending.

Taking responsibility and looking ahead

In filing for bankruptcy, you are taking responsibility and confronting a personal situation. By taking advantage of a financial tool put in place by the U.S. Congress, you have taken an initial step toward recovery.

Sure, you have concerns about obtaining credit in the future. By sticking with a detailed recovery plan, however, you have an opportunity to turn your financial life around.  If your credit score is already bad, it will probably increase after your debts are discharged in bankruptcy.

You also may have concerns about occasional sideways glances from relatives and acquaintances. Try to put that out of your mind. According to certain estimates, as many as 10% of U.S. adults will file for bankruptcy in their lifetime. You just may find some understanding friends and family members who have gone through bankruptcy, and they may be willing to share their experiences.

The U.S. Constitution allowed our congressional lawmakers to establish bankruptcy laws to help our citizens. Remember that there is no shame or stigma in relying on a system implemented by the government to help people facing major debt problems.  Filing bankruptcy is also a great stress reliever.  Sometimes there just is no other good alternative.

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