Affordable Bankruptcy Courses Blog

Some Lessons We’ve Learned About Bankruptcy

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bankruptcy-lessonsSince our establishment in 2012, at Affordable Bankruptcy Courses we have helped a large number of people through their bankruptcies. And based on their feedback, we have been able to learn a lot during their journey too. We put together a few things we thought would be valuable to share with those who are considering filing for bankruptcy and are – understandably – apprehensive about the process and what it will entail.

1)    You are not alone. Financial problems are much more commonplace than you would initially think. Managing your finances is not easy – if it was, then there would never be a need for bankruptcy, and companies like Affordable Bankruptcy Courses would cease to exist. But we do, and bankruptcy is a common phenomenon, with 238,708 people filing in the first quarter of 2014. So almost one million people will file this year alone. Remember this figure next time you feel that financial struggles are few and far between, because you are definitely not one of the only ones struggling.

2)    You have made a positive decision! The concept of bankruptcy has a negative connotation with it, but in all honestly, it shouldn’t. It did not cause your financial problems, it is occurring as a result of them. It is a form of debt relief, and an opportunity for you to start fresh. And having taken your Credit Counseling and Debtor Education courses, afterwards you will be equipped with the tools and knowledge to solidly manage and build your savings, to avoid financial struggles in the future.

3)    Never give up. When trying to cope with financial distress, it can be tempting to throw in the towel and admit defeat. But as H.W. Arnold once said, “The worst bankruptcy in the world is the person who has lost his enthusiasm.” So by putting a positive spin on the situation and thinking of it as a fresh start and an end to your financial troubles; you are opening yourself up to the possibility of a brighter financial future. Now is the time to learn about concepts such as budgeting and financial management to help best avoid financial troubles occurring again and offsetting your new, positive lifestyle.

4)    Your life isn’t ruined after filing. Yes, things such as finding a mortgage right away will be tricky, but this won’t last forever. It is possible to bounce back after bankruptcy – did you read our previous post on famous bankruptcies? – and many have done just that. Think of bankruptcy as a rather annoying blip on your financial radar. It won’t go away without you dealing with the problem, but once you do so, you are clear to start fresh.

For those of you considering filing for bankruptcy, we hope some – if not all – of these words of wisdom helped somewhat. And for those of you who have previously filed, how easily could you relate to these? Let us know in the comments section below.

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Author: affordablebankruptcycourses

Based in Plantation, Florida, Affordable Bankruptcy Courses (ABC), together with Advisory Credit Management (ACM) offer EOUST approved Pre-Bankruptcy Credit Counseling and Pre-Discharge Debtor Education Courses. ABC prides itself on being the low cost solution and offering the required bankruptcy courses 24 hours a day, 7 days a week, in English or Spanish, and there’s no phone call required for certification.

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