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Friday, July 20, 2012

Non-Financial Benefits of Bankruptcy

Most individuals who have been considering the bankruptcy option view it strictly from a monetary perspective. Not surprisingly, the view is understandable. In any case, when you're filing for the bankruptcy, you are receiving serious debt relief after months (and maybe even years) of stress. However, there's a lot more to this process beyond the financial bit. Bankruptcy will surely touch on every aspects of your life.
In this post, we will cover some of the non-financial features of the bankruptcy - a path you possibly will not have thought about. Hopefully, you'll realize a few things you didn't know before that might convince you to consider bankruptcy filing issue more seriously than before!
The Non-Financial Benefits:
Are you aware that filing for bankruptcy could actually save your marriage? This may sound like a totally wild claim but it really can. Look at it from this angle... the number one cause of divorce today is financial arguments among couples. Couples will quarrel about money more often than any other particular subject. Whenever you are suffering too much financial hardships such as debt, you're most likely having a few heated arguments with your spouse. However, you can eliminate these troubles by filing for personal bankruptcy. Of course, the procedure isn't a walk-in-the-park. But, you are sure to begin with a spotless slate. Imagine how it would feel!
Mental Health
Similarly, bankruptcy is capable of doing amazing things specifically for your mental health. The very first (and crucial) step you have to take mentally is leaping past whatever block that tells you you are a failure for asking to be declared bankrupt. You're certainly not. Bankruptcy exists to make sure that people don't end up as losers. As soon as you realize that, you'll discover that after submitting your files for bankruptcy, you will no longer spend your entire mental energy wondering about money. You're going to be free to put your center of attention on other healthy channels like your loved ones, careers and interests
The process of bankruptcy can provide financial freedom, without a doubt, however it affords you a greater, overarching feeling of freedom. When was the very last time you thought you might take a vacation? Have you ever enjoyed a night out, without having to feel guilty inside you about spending the family cash?
While no person will certainly promise a direct lavish life, the point I am making is that you now own the choice to build your own personal life when you finally undergo the bankruptcy process. By having a clean slate, you will have no debts. You may now allocate our earnings responsibly. And, if you do that, you'll likely have a little surplus to really enjoy life - a thing you couldn't even imagine under the stresses of debt!
So what's stopping you?
If you have been considering filing for bankruptcy, what's stopping you? Obtain the relief that you desire, and begin savoring the financial as well as the non-financial merits of going through a bankruptcy process


  1. I couldn’t agree more! Most couples in the United States are filing for divorce because they see it as an escape from financial downfall. Being free from all the debts plays mind tricks because you worry too much about it. Once you qualify for bankruptcy, you will start enjoying your financial freedom. The fact that you can start anew financially, mentally, and emotionally is a great relief.

    Louisa Matsuura

  2. With these benefits, it’s quite tempting to just file for bankruptcy and totally be free. But this shouldn’t always be the case. As a matter of fact, we should try to keep it at the bottom of the list as much as possible. There are other financial options and alternatives to bankruptcy. You just have to talk to the right people, professionals, on that note. -->Jaden Allred