• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

The Debt Phoenix - Rising From the Ashes of Debt and Bankruptcy to Financial Freedom

A step by step guide to dealing with the emotional and financial problems of debt and bankruptcy and using proven strategies to overcome them and rise to a future of financial freedom.

  • Bankruptcy
  • Debt Recovery

Is Bankruptcy a Catastrophe or a Big Relief? Dealing with Debt and Resolving it Now…

June 11, 2019 by The Debt Phoenix Leave a Comment

Is Bankruptcy a Catastrophe or a Big Relief? Dealing with Debt and Resolving it Now…

Sometimes it’s hard to fully understand bankruptcy when you are going through the situation yourself. When you’re actively dealing with a big debt problem, it always feels like a catastrophe and that you are a total failure.

I know for me that is what it felt like – a gigantic pile of debt overwhelming me and destroying my life. 30+ debt collection calls every day, endless debt collection mail, lawsuits being threatened (and about to begin). It’s really one of the hardest things people can go through. The hardest part is that there is no support from family and friends at all. In fact, debt troubles are something no one tells anyone about. I know I kept it all a secret. It’s just way too embarrassing to appear as a big failure before everyone.

Are Large Debts Worse Than Scary Illnesses?

In some ways dealing with gigantic debt is worse than a scary illness or similar. Here’s a good example of how that can be the case. How many people do you see on Facebook who tell the whole world (or at least all of their family and friends on Facebook!) that they have a serious illness. (Cancer, diabetes, heart attack, etc.) What is the result when they share that on Facebook? They receive a huge outpouring of support! Everyone feels bad for them and many will try to help them out deal with their problems in their day to day life. It can really feel like everyone loves you and wants to help you out! It can make your illness a lot more manageable.

Does Anyone Post Debt Troubles on Facebook?

Not so for debt troubles. When was the last time you ever saw anyone post that they are in huge debt and need help managing their bankruptcy on Facebook? Probably never. Yet there are 500,000-1,000,000 bankruptcy filings every year in the USA alone! Yet no one ever talks about it with their friends and family. This makes it very difficult – as debtors often suffer alone.

This means that dealing with your debt can be a big relief once it is finally over. You don’t have to feel overwhelmed about it anymore and can more easily interact with family and friends because you don’t have a huge dark cloud hanging over your head.

The Shame of Debt Can Be Overwhelming

The shame and pain that big debt causes can be truly overwhelming. Not only are you receiving dozens of contacts from mean and angry debt collectors, but you have to suffer in silence without any support from those you know and love. You know that if you revealed publicly a big debt problem that you would be judged harshly and that people would be mocking you behind your back. You know they would be saying things like, “wow, that’s pathetic” or, “wow, he should never have started that business, what a stupid idea that was” All of these insults you know will be there even if people aren’t quite willing to say these things to your face. Then if people do know, you know that they will always know. Even decades from now they’ll remember your failure. So it often seems best to just tell nobody. As long as you don’t tell anyone, no one will know. You can file bankruptcy and no one will find out. This is all well and good except that you get no support or kindness offered towards you. All you get is debt collectors contacting you all day.

Clear Your Debts, Restore Your Peace

This is why the clearing of all your debt is such a big relief. It results in your freedom.  It is essential to clear your debts as fast as possible (keeping in mind certain reasons why it might be smart to wait to file for bankruptcy) and get yourself back to a normal life as soon as possible. Consult a bankruptcy lawyer right away (it’s free) and then put into action a plan to reclaim your life. Rebuilding your finances can take some time, but reclaiming peace in your life can happen almost instantly.

Filed Under: Bankruptcy, Debt Recovery

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Comments

  • Jocelyn McDonald on How To Choose A Bankruptcy Attorney – Avoid the Bad Ones and Choose a Great Lawyer!

Archives

  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019

Categories

  • Bankruptcy
  • Credit Cards
  • Credit Repair
  • Debt Recovery

Footer

Bankruptcy

Debt Consolidation

Credit Recovery

Building Wealth

Copyright © 2019 · The Debt Pheonix · About Us · Disclaimer · Privacy Policy · Contact Us