The Bankruptcy Process Isn’t Just Financial

July 4, 2012 by  Filed under: Bankruptcy 

Many people who are considering the bankruptcy process view it from a strictly financial perspective. Of course, this perspective is understandable. After all, when you’re filing for bankruptcy, you’re getting serious debt relief after months (or maybe even years) of struggling.

However, there’s more to the process than the financial aspect. Bankruptcy will touch many aspects of your life. In this article, we will cover a few of the non-financial aspects of the bankruptcy process that you may not have considered. Hopefully, you’ll realize a few things you didn’t know before that might persuade you to consider filing more seriously than you have before!

The Non-Financial Bonuses:


Did you know that filing for bankruptcy could save your marriage? Does that sound like a wild claim? It’s actually quite conservative. Look at it this way… the leading cause of divorce is financial arguments. Couples will argue about money more than any other single subject.

When you’re suffering undue financial hardships in the form of debt, you’re probably having a few hard conversations with your spouse. By filing for bankruptcy, you can eliminate your financial troubles. Sure, the process isn’t a walk in the park. But, you will start with a clean slate. Imagine the feeling!

Mental Health

Likewise, bankruptcy can do amazing things for your mental health. The first (and crucial) step you need to take mentally is to get past any kind of block that convinces you you’re a failure for filing for bankruptcy. You’re not. Bankruptcy exists so that people don’t become failures. Once you believe that, you’ll find that after filing for bankruptcy, you no longer spend all of your mental energy thinking about money. You’ll be free to put your focus on other healthy outlets like your family, interests, and career.


The bankruptcy process provides you with financial freedom, of course, but it also provides you with a greater, overarching sense of freedom. When was the last time you thought you could take a vacation? When did you enjoy an evening out, and not feel guilty inside about spending the money?

While no one is going to promise an immediate life of luxury, the point is that you now have the freedom to build your own life after you go through the bankruptcy process. With a clean slate, you have no financial obligations. You can now allocate our income responsibly. And, when you do so, you’ll probably have a little left over to enjoy life – something you couldn’t truly do under the pressures of debt!

What Are You Waiting For?

If you’ve been on the fence about filing for bankruptcy, what are you waiting for? Get the relief that you need, and start enjoying the financial and the non-financial benefits of going through the bankruptcy process!

The Lee Law Firms bankruptcy lawyers have many years of experience in all aspects of Chapter 7 and Chapter 13 Bankruptcy. They have extensive knowledge of bankruptcy laws and aim to provide their clients will a plan to obtain a solid financial future.

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