05 Sep Bankruptcy and Happiness.
Bankruptcy does not guarantee happiness. Bankruptcy is a way to regain financial control, a way to be rid of debt and a way to obtain a financial fresh start. But it does not guarantee happiness.
Happiness only comes from within. You must have reasonable expectations when you are contemplating filing bankruptcy.
Bankruptcy is not a miracle but it is a vehicle that can potentially eliminate all your debt.
If you do not have an income before bankruptcy then bankruptcy is not going to provide you money to place food on the table. If you do not have the financial resources because of too much debt then bankruptcy can help you to keep more funds in your pocket. If your marriage is under stress because of lack of communication, financial stress or other reasons then bankruptcy may or may not resolve the financial problems.
Let’s say that you have a mortgage, auto loans and credit card debt that you are trying to manage. Through the bankruptcy you discharge the credit card debt but keep the auto loans and mortgage you may still have marital problems if you cannot comfortably afford those items. So yes the bankruptcy discharged the credit card debt but it did not eliminate the marital strife due to financial burdens.
A potential client came in recently and she was extremely happy or at least appeared that way. She was smiling, jovial and at ease. When I asked her how she could be so comfortable she replied that she just took everything in stride. Basically it is what it is and you do what you have to do. This financial crisis was not life threatening, her children were healthy and therefore she will take it one step at a time. WOW!
This is truly an attitude that all humans should have and I was impressed. She will succeed if she decides to file bankruptcy because I believe that she will do what needs to be done and has a realistic expectation as to what bankruptcy can do for her.
If bankruptcy cannot guarantee happiness why should you file bankruptcy at all?
Because if you are in financial distress and if you are willing to do what needs to be done and if you have realistic expectations, bankruptcy can help you regain financial control! For some the end result does feel like a miracle but the miracle does not come from above it comes from the hard work that the debtor did themselves.
So if you are looking to regain financial control then a bankruptcy attorney may be the right person to assist you. But if you are looking for happiness then you must look to yourself for this as happiness is an intrinsic feeling.
Remember that knowledge is power and the more knowledge about what bankruptcy will do for you, the more power you will have to decide if bankruptcy is the right choice for you.
Image credit:Rachel Lynn Foley – KC Bankruptcy