Jump to Navigation

Surviving the Emotional Effects of Bankruptcy

Mounting bills can put stress on any family's budget, but when there isn't enough income coming in to pay off those debts, late bill payments are inevitable. If you find yourself facing insurmountable debt and bankruptcy appears to be your only option, contactan experienced bankruptcy attorney to discuss your options.

Hartford Bankruptcy Lawyers

Debtors in the Hartford area often look to the Law Offices of Michael J. Auger for personalized advice and assistance with financial troubles including foreclosure and bankruptcy. To discuss your debts and explore possible alternatives to bankruptcy, contact us.

Thank you for contacting Law Offices of Michael J. Auger. Your message has been sent.

Call us now

or use the form below.

Throughout our nation's history, bankruptcy has been exercised as a legal option by many distinguished and famous Americans, including Ulysses S. Grant, Abraham Lincoln, Walt Disney, Burt Reynolds and Donald Trump. Is bankruptcy the preferred solution to your financial woes?

A means test will help determine whether you qualify for a Chapter 13 (debt reorganization) or Chapter 7 (liquidation/debt discharge) bankruptcy. You should consult with a Connecticut attorney before attempting to do the means test.

Surviving the Emotional Effects of Bankruptcy

No matter what circumstances ultimately led to filing bankruptcy, both the practical and the emotional impact on the debtor will be enormous. Confronting the emotional and psychological issues surrounding bankruptcy and reaching an understanding and acceptance of the situation are essential to rebuilding and maintaining a successful financial life. The experienced bankruptcy attorneys at Law Offices of Michael J Auger in Farmington, Connecticut, can guide a debtor through the complicated legal, financial and emotional maze of bankruptcy and steer him or her in the right direction for the future.

Filing bankruptcy can, without a doubt, stir up many negative emotions. The debtor's sense of self-worth is often closely tied to his or her financial circumstances. Loss of money can be experienced as a loss of identity, self-esteem and confidence. We live in a society in which image is seemingly bought through possessions. Money can be viewed as a powerful currency not only in a purely economic sense, but also in relationships and thus a real or perceived loss of interpersonal power can ensue when bankruptcy is filed.

Understanding these emotions can help disentangle the practical realities of money from the possibly destructive or limiting emotional response to bankruptcy.

At times of significant loss, people tend to feel that their entire foundation has been shaken and that their most fundamental sense of security has been disrupted. They question their trust in themselves, in others and in the world at large. Although it may be natural for many to bury these frightening emotions, bringing core insecurities to a conscious level can actually reduce fear and the feeling of being out-of-control, which enables individuals to start tackling their situations constructively. In addition, the counsel of a seasoned bankruptcy attorney at Law Offices of Michael J Auger in Farmington, Connecticut, can see a debtor through the tough times and guide him or her to a brighter financial future.

Copyright ©2009 FindLaw, a Thomson Business

DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent legal counsel for advice on any legal matter.

Back to Main

  • Foreclosure F.A.Q.
  • Bankruptcy Tools
  • Bankruptcy Practice Center
  • Questions? Intake Form
American Express | Discover | Mastercard | Visa
Toll Free: 888-883-7044Local: 860-269-3446