Four Tips to Help You Navigate a Personal Bankruptcy with Less Stress

Declaring personal bankruptcy is not en enjoyable endeavor. Usually, by the time you declare bankruptcy, you have already been through a trying and emotional period during which you lost money, attempted to pay off your bills, and accepted the harsh reality that you're in over your head. The months ahead as you apply for bankruptcy will be equally challenging. However, there are some tips you can follow to keep your head on straight throughout the process.

1. Hire a good lawyer.

A good bankruptcy attorney will do a lot of the work for you so that you're not constantly having to juggle the various aspects of applying for bankruptcy. There are general attorneys who list bankruptcy as one of their services, but you are likely to have a better experience with someone who focuses specifically on bankruptcy. Since the bankruptcy process is an emotional one, make sure you interview a few attorneys before you choose one to represent you. Find someone who makes you feel confident and reassured. 

2. Speak with a therapist.

Talking about your feelings will help you understand and deal with them before they have a more devastating effect on your mental health. If you are not already speaking with a therapist, consider meeting with one every few weeks during the bankruptcy process. If your health insurance does not cover therapy and you don't have the money for this expense, at least meet up with a good friend periodically to vent about your problems and struggles.

3. Focus on the future.

There are a lot of negative experiences behind you. Try not to focus on them as you navigate bankruptcy. Look at bankruptcy not as an add-on to the financial struggles you have had, but as a new beginning. It is a positive way to leave the past behind and start over. Meet with a financial adviser to discuss how you can avoid falling into the same traps going forward. Whenever you start to feel down about your bankruptcy, remind yourself that you've learned from this process and that it will strengthen you as a person.

4. Learn all you can.

Knowledge is power. The more you know about bankruptcy, the process of applying for bankruptcy, and how applications are processed, the more in control you will feel. If you talk to your lawyer, they can probably recommend books for you to read and perhaps even some seminars for you to attend in the area. If you're in need of bankruptcy law services, contact law firms like McElrath Law.

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