The worries and stress sometimes overcome you. Extreme financial debt has placed you into a pit that you presume is difficult to climb out from. You want and need to be in a better financial place, but what can you do? Plenty. An initial step is filing for bankruptcy.

“Oh, my! I would never do that!” you declare. “It is too much of a burden! And what will the neighbors think!” Stop being an obstacle in your own life, think about the benefits of filing for personal bankruptcy and ignore the behind-the-back whispers from family, friends and acquaintances. Do not even bother to look over your shoulder due to the judgment of others. This is expected, so just disregard them.

There is no shame in pursuing financial recovery

This is your life and your decision signifying that you remain prepared to financially begin anew in having most of your debts wiped out. Remember, there is no shame and no stigma to bankruptcy, which steers you into a fresh beginning. Bankruptcy serves as a solution to get you back on track financially.

When confiding with others, you may discover that they, too, have experience with bankruptcy. You may be surprised. The Federal Reserve Bank of New York noted that roughly 14% of American households – about 17 million – owe more money than they actually own. While many such households could be helped by filing for bankruptcy, fewer than 1% annually do so. In 2019, the country reported 752,160 personal bankruptcy filings.

Focus on the future and a turnaround

With bankruptcy, your eyes remain focused on the future. Look upon your financial recovery as an achievable and educational challenge. The turnaround has begun. Although it will take some time, you eventually can improve your credit score with a bit a discipline and belief in yourself.

You want to be in control again, and, in time, you will be in control. Your outlook and situation automatically improve when you take that first step in filing for bankruptcy. There is no shame in seeking a better financial life. Think about it. You are on the road to recovery.