You have made the difficult decision to file for bankruptcy, but you may still have some misgivings. If so, you are not alone. Countless people in Mississippi and elsewhere who are going through a personal bankruptcy are dealing with negative feelings about their situation, including embarrassment and shame. You may be reassured to learn you do not have to feel this way.

There was a great deal of negative social and professional stigma surrounding bankruptcy in the past that, for the most part, no longer exists today. However, many people still attach a negative connotation to what they see as a last resort. You might feel a number of unpleasant feelings during your bankruptcy process, including the following:

  • Embarrassment over your friends, family members or co-workers finding out you had to file for bankruptcy
  • Loss of confidence and self-worth when you cannot meet your financial obligations
  • Guilt over not repaying your debts and taking what some think of as the “easy way out”
  • Worry that you may not be able to rebuild your credit or take out a loan in the future

Fortunately, most lenders are aware that bankruptcy has become a necessity for many, especially in today’s financially uncertain times. Many banks or alternative lending companies are willing to offer loans to people recovering from bankruptcy. You can start rebuilding your credit soon after discharging your debts, and you may have learned valuable skills in budgeting, saving and financial planning that can prevent you from having trouble in the years to come.

It is important when recovering from monetary difficulties to let go of any sense of guilt or shame and realize that you have done the best you could to regain your financial footing. While you are going through the bankruptcy process, your attorney should be able to advise you on effective ways to keep moving in a positive direction.