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How can I cope emotionally with a bankruptcy?

Struggling financially not only affects your wallet, but it can have consequences for your mental health. Spending all of your emotional energy worrying about money can mean that you will be less emotionally available for your partner and children, or other loved ones.

If you are considering taking action to combat your debt by filing for bankruptcy, it is important to understand how this could affect your mental health. By being aware of the challenges of bankruptcy, you will be better equipped to take on the task.

Keep your ego in check

There has traditionally been a certain stigma associated with people who file for bankruptcy. You might internalize that stigma and start to view yourself as a failure. Remember that any shame that you feel regarding a bankruptcy filing is only an emotion and not the truth. Don't allow your ego to get the best of you, and continue to take the action that you believe to be best.

Take control of what you can

It's common to be fearful in the face of bankruptcy. Instead of worrying about the future, it is better to stay organized and take control of your financial situation as much as you can.

Reframe the situation

It's easy to feel shame and embarrassment when filing for bankruptcy. But by reframing the situation, you will be able to recognize the courage that you are exhibiting in deciding to take control of your life. You can be proud that you are fighting to live a debt free life.

If you want to file for bankruptcy in Kentucky, you should look into the different options available.

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Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-785-8549
Phone: 502-485-9200
Fax: 502-485-9220
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New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 502-785-8549
Phone: 812-945-9200
Fax: 502-485-9220
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