We are not psychologists, so do not consider this advice from a trained or licensed psychologist. However, we have sat down with thousands and thousands of people over the years and feel appropriately qualified to at least give you our perspective on this issue.
You may be looking at this page because you are in debt and are feeling some guilt about your current circumstances. The fact that you are feeling guilty is good! It means that you acknowledge some responsibility for your current circumstances. If you were not feeling any guilt regarding your current circumstance, we would question your motives.
Once you have acknowledged that the situation is one that cannot be dealt with short of bankruptcy, you need to put the guilt behind you and develop a plan on how best to proceed.
Bankruptcy is a constitutional right. It was discussed among the founding forefathers when our nation was founded. They understood that chronic debt was bad for the fabric of society. Chronic debt creates health problems, family problems and other types of situations. Accordingly, they borrowed a principle from the Old Testament, which states that money lenders should forgive those who owe them money once every seven years. Certainly there was a lot of wisdom in the old law, and the founders of the Constitution understood this.
It is interesting to note that Thomas Jefferson, who was a brilliant individual and helped to inspire a form a government, was chronically in debt and his estate was hopelessly mired in debt when he passed away.
If you feel irresponsible, consider the alternative. It’s truly irresponsible to not do anything. These problems do not go away by themselves. In fact, we can assure you that the bill collectors will not stop calling! The responsible thing to do is take some action to resolve the issue. It may not involve filing for bankruptcy. Many people we consult with do not end up filing. We help them find some solution, short of bankruptcy, to solve their particular situation. However, you should take some action and at least sit down with someone experienced in these matters. Do something today!
One thing we do not get more of in life is time. Don’t spend a good deal of it mired down in a financial mess. Take some small action today.
