3 Reasons Why Bankruptcies May Affect Mental Health<\/p>\n

One of the most widespread results of filing bankruptcy appears to be a profound impact on mental wellbeing. An incredible 75% of people who file report they became depressed during or after the process. This isn\u2019t an encouraging picture, especially when you consider that many who filed were probably initially depressed by their financial woes before filing.<\/p>\n

Bankruptcy is designed to be a form of debt relief. I\u2019d like to place the emphasis in that sentence on the word, \u201crelief\u201d. The purpose is to ease financial burdens and allow an individual to start with a clean slate for building credit and a solid future. So, why would the result be depression? Let me offer a couple of theories:<\/p>\n

One possible cause is the opinion that filing bankruptcy indicates some sort of personal failure. Many people can\u2019t get past the feeling of responsibility, no matter what the circumstances. \u201cI should have been better prepared.\u201d \u201cI should have worked harder or taken a second job.\u201d I should have saved more.\u201d There are countless ways to blame yourself. In truth, life happens and most people end up in a financial crisis because of events they had little or no control over.<\/p>\n

Another possible and very unfortunate reason may be that the person who filed didn\u2019t realize the relief he or she had hoped for. This tends to happen in cases where an attorney ignores certain steps in the process, including:<\/p>\n

\u2022 Thoroughly examining all debt relief options available to the client
\n\u2022 Helping ensure that all debts, assets and income are correctly reported
\n\u2022 Ensuring that the client completely understands the entire process
\n\u2022 Helping the client devise a recovery strategy after filing<\/p>\n

Each of these steps is crucial to the success of any financial recovery plan, including bankruptcy. An attorney that\u2019s only concerned with the preparation and filing of the papers is neglecting the best interest of his or her client.<\/p>\n

In fairness to attorneys in general, it\u2019s important to note here that a lawyer can only advise the client, not compel the client to follow that advice. Keep in mind the adage that \u201cYou can lead a horse to water, but you can\u2019t make it drink.\u201d
\nFinally, this situation sometimes occurs when individuals handle their own proceedings, without an attorney. This option is available for individuals, and is referred to as \u201cpro se\u201d. You may also hire an attorney on a purely advisory basis and file your own paperwork, etc. While these methods are acceptable, you must also accept the risk. Bankruptcy proceedings can become complex and a recovery plan is even more complicated.<\/p>\n

Before your finances affect your wellbeing, contact accomplished SAN DIEGO BANKRUPTCY LAWYER Jeff Larkin. To seek advice from SAN MARCOS BANKRUPTCY ATTORNEY Jeffrey Larkin, call 877.25.NEW.HOPE for a free consultation today or visit his BANKRUPTCY LAWYER IN CARLSBAD CA Google+ Local page.<\/p>\n

For more details, Please visit our website: larkinfirm.com<\/p>\n

By Jeffrey Larkin<\/p>\n","protected":false},"excerpt":{"rendered":"

3 Reasons Why Bankruptcies May Affect Mental Health One of the most widespread results of filing bankruptcy appears to be a profound impact on mental wellbeing. An incredible 75% of people who file report they became depressed during or after the process. This isn\u2019t an encouraging picture, especially when you consider that many who filed…<\/p>\n","protected":false},"author":3,"featured_media":3652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[23,24,25,26],"class_list":["post-3623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bankruptcy","tag-carlsbad","tag-mental-health","tag-san-diego"],"yoast_head":"\n