Posted on: 14 September 2017
The strain of financial problems is something that can weigh on you until life becomes unbearable. You might have avoided bankruptcy for some time, but in many cases it can be the solution to a problem that has lasted so long you can't remember life without it. Choosing bankruptcy can be a positive thing for your future, but you've got to ensure you're focusing on the below things during the process.
Remember to Take the Second Course
Your bankruptcy lawyer will advise you that you need to complete two courses in order to have your bankruptcy discharged. The first can be done quickly and has to be done before you can officially file your petition. The second, which must be done within 60 days of your creditors' meeting, can take more time and is easy to forget about. Ensure you set aside I've for this course so that your bankruptcy discharge doesn't get denied.
Examine Your Past
There are reasons that your finances fell apart and made bankruptcy a choice for you. What are they? Being honest and examining past mistakes isn't something that should be done to punish yourself, but you do need to be certain that you know what transpired. Was there a medical emergency? Did you have a substance abuse problem or mental health issues? When you know what led to the problem, you can then move forward.
Make a Plan
Bankruptcy can remove some or all of the current debt you're dealing with. However, you need to make a plan that prevents you from ever needing that option again. Will you take on additional work? Will you seek help for your alcohol or drug problem? Will you see a therapist regularly? These questions should occupy your brain until you have taken action to improve your situation and start leading a rational financial life.
It's easy to really feel like a failure because of your finances, and this can be worsened when you file a bankruptcy petition. That's why support is so valuable. You might not want to let everyone know about it, but talk to individuals you trust and seek them out when you feel down about what's happening.
Bankruptcy is a tool to help repair your financial life. Working through it with your attorney is just one of the things you have to do to get through it; you've got to take the above suggestions seriously. Only then can you truly recover and put this behind youShare