Can Filing for Bankruptcy Give Rise to Negative Emotions?

Leeds, AL–Money issues are largely to blame for standing in the way of many people’s happiness. When a person falls into debt, not only might it take a toll on their relationships and ability to provide, but it can also interfere with their emotions. According to recent studies, “worries about finances” serves as the number one cause of stress (1).

Although bankruptcy can certainly help a person gain a handle on their debt and even provide them with a fresh slate to work with (Chapter 7 bankruptcy in particular), the act of filing can sometimes lead a person to develop a number of negative emotions. This is why individuals are advised to retain an experienced Alabama bankruptcy lawyer who will walk them through the process, essentially easing the burden.

If you’re feeling bad about having to file for bankruptcy, it may be time to consult with a bankruptcy attorney near you.

Bankruptcy has long been touted as a solution for individuals who have failed miserably and are no good with money. But this couldn’t be farther from the truth.

The truth is, there have been many successful people, including businesses, that have had to rely on bankruptcy to help them escape the financial ruts they fell into. Donald Trump, Walt Disney, and the retailer Claire’s have all used the bankruptcy process to say goodbye to their debt and start fresh.

So, although bankruptcy may have you feeling down and even a little ashamed, it’s important to focus on the benefits it carries and how it can help you overcome the financial struggles you’re currently facing.

Let an Alabama bankruptcy attorney inform you on how the bankruptcy process works.

There are different types of bankruptcies you can file for, each of which involves a different process. For instance, Chapter 7 involves liquidating your non-exempt assets and using the proceeds to pay down your debt. Any remaining debt may then qualify for discharge. Chapter 11 bankruptcy, on the other hand, allows businesses to reorganize their debt so that they are able to continue operating and even borrow additional money.

So, if you’re looking to file for bankruptcy on behalf of yourself or your business and you’re concerned that it reflects badly on your record, talk with a bankruptcy lawyer in Leeds, Alabama who can provide you with the facts and help you make an informed decision.

Hill, Gossett, Kemp & Hufford, P.C. is a bankruptcy law firm in Alabama that would be happy to discuss your situation and determine if bankruptcy is a suitable option for you.

Have questions about this article or a legal concern? Call 800-672-3103.

Disclaimer: No representation is made that quality of legal services provided is greater than the quality of legal services provided by other attorneys.

Hill, Gossett, Kemp & Hufford, P.C. can be reached at:

Moody Office

2603 Moody Parkway, Suite 200

Moody, Alabama 35004

Phone: (205) 640-2000

Website: www.hwhlawgroup.com

Leeds Office

7900 Parkway Drive

Leeds, AL 35094

Phone: (205) 699-5500

Springville Office

6441 U.S. Highway 11