In the U.S. approximately 1.5 million total bankruptcy filings were reported in 2011. If you were NOT one of those 1.5 million then congratulations! If you were then you are not alone. With people still struggling financially from a down economy and a 7.8% unemployment rate as of Sept. 2012 it's becoming more evident that we still have a ways to go before we see any signs of relief.
Facing bankruptcy can be a stressful experience for any family or business to go through. The emotions and anxiety can be overwhelming. These are all normal feelings and can be defined. The grief that people encounter can de described in stages. While some may grieve differently, it's safe to say that they will experience some of the stages defined below.
Denial is usually the first stage of grieving. It helps us to survive the loss. In this stage life seems to make no sense, they are in shock or tell themselves this just can't be happening, especially to me.
Anger is a way to shift the problem by blaming someone something or the system. It is a necessary stage of the healing process. It's vitally important to control your anger. You will get through this. Remember you have options and there is help out there.
Help me God! This is a desperate shout out for the Lords help. Bargaining with the higher power for help and prayer are usually high at these times of hardships. Telling yourself "what if" or if I just did... "I will never do that again" statements.
Depression usually follows bargaining with a deeper level of grieving and empty feelings. It is a way of dealing with loss. It's important to talk to your spouse and loved ones for support.
Acceptance is a stage that is the reality that we have a problem. We accept it for what it is, learn to live with it. We may still feel bad about the situation, but we move on and take the next step. What to do about it? How do we fix it?
Well rest assure there is hope out there. Finding a qualified and experienced bankruptcy attorney can relieve a lot of your anxiety and can offer hope. There is legislation in place to help people just like you. You are definitely not alone here. Finding a bankruptcy lawyer who is designated by Congress as a debt relief agency offering bankruptcy relief, and protection will give you a clear picture and an accurate assessment of your situation.
A bankruptcy attorney can provide advice on the benefits of filing for relief under the Bankruptcy Code where most, if not all, of the debt may be discharged in as little as four months.
However, being able to petition for bankruptcy is not automatic. The Bankruptcy Code requires that a person, or a couple, filing for bankruptcy meet certain conditions. It is advisable to have an attorney prescreen your qualifications, and see if you may be eligible to file for bankruptcy.