My friend Jay Fleischman is on point that our clients filing bankruptcy are stressed. Let me posit that the cause of the stress is not “filing bankruptcy” but 1) the situation that lead to the decision to file; 2) fear of the unknown, fueled by bad information and unsupported assumptions about the process; and 3) self inflicted moral judgments.
Unmanageable debt is enormously stressful, and most people struggle mightily before even considering filing bankruptcy. They suffer with a situation that is beyond them for months or years before seeking professional advice. They are stressed before I ever see them.
Clients know what is it like to be in debt; they don’t know how “bankruptcy” operates. They assume that it has to be as painful and shameful as their present situation. Then they go on the internet to do some “research” and find bad, incomplete or simply inapplicable information, and they fret some more.
Finally, most clients want desperately to pay back what they owe. When they acknowledge they simply can’t do so, they beat themselves up mentally as failures. Bankruptcy lawyers keep a running list of famous people over the centuries who have filed bankruptcy. Most were successful again after their bankruptcy filing.
Forgiveness of debt is just as empowering as other forms of forgiveness. It frees the debtor from stress, distraction, and worry. I tell clients they can make themselves feel as bad as they want to about filing bankruptcy, but it isn’t necessary or right. They usually come around to my way of thinking.
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