Filing for bankruptcy is one option that individuals have for taking control of their finances. What many people don't realize is that this comes with many considerations. Some people think that they are going to be happy and relieved when they file, but that's not always the case. It may surprise you to learn that you'll likely feel sadness or grief when you file.
One of the reasons why negative emotions may creep up is because they feel as though they are letting their creditors and themselves down. This isn't necessarily the case because your creditors will realize what they're going to get from you when you file. This provides them a realistic expectation instead of automatically thinking that they can collect from you by contacting you often.
Filing for bankruptcy triggers an automatic stay. This means that the bill collectors can't contact you to try to collect money. Instead, they will go through the bankruptcy court. This is a positive aspect of filing that isn't likely going to cause any negative feelings, but you may find that you start to think about the future.
Because a lot of the negative emotions you feel come from the uncertainty of the future, you may be able to address them by setting up the plan for your finances when the bankruptcy is over. Take a look at your budget and determine how you can make ends meet. You can also determine how you want to rebuild your credit when the bankruptcy is over.
Remember, the sooner you file, the sooner you can enjoy the benefits of bankruptcy. You deserve a fresh financial start. Getting your Chapter 7 or Chapter 13 started puts you one step closer toward that goal.