One of the most important effects of filing for bankruptcy is the psychological ramifications which are often sadly over looked. There are typically three types of stages one goes through after filing for bankruptcy. The first stage can last for the first few months, or even a couple years after someone has filed for bankruptcy. During this time the individual feels relieved, yet at the same time an immense feeling of guilt and failure.
Once the individual moves out of this stage, there is a less stressful time where they forget about many of their past financial decisions. This time is short lived as the individual soon enters the third stage of filing for bankruptcy.
During this time the individual experiences a lot of remorse and regret, often feeling a great deal of resentment towards those who advised them to file for bankruptcy. They realize that simple things such as not being able to buy Christmas or birthday presents become difficult to deal with year after year.
Realizing that they are starting their lives over again, but without the ability to fulfill their life long goals becomes a painful reality. Those most harshly affected are those individuals who lose property that is non-exempt (unprotected). It can be tough.
At PBM we have helped many people on the brink of filing for bankruptcy. It is possible to take control of your financial destiny and your life. To get the facts about alternatives and programs to escape the clutch of the psychological brutal aftermath of bankruptcy call us at 1-800-573-1855