Along with the financial costs of bankruptcy are the emotional costs. People who file for bankruptcy often struggle with a variety of negative emotions, including feelings of failure and a sense of hopelessness or profound pessimism about the future. Whether you’re filing for bankruptcy as an individual or as a small business owner, you may feel as if you’ve lost a part of your life and much of what you’ve worked for.
A recent article from Forbes discusses the emotional toll of bankruptcy, along with some advice for coping; this includes talking to trusted people – family and close friends, in addition to expert advisers. For Ohio residents, among the people you can trust is an experienced Dayton, Ohio bankruptcy attorney. What are some of the ways an attorney help you with the emotional costs of bankruptcy?
- Presenting you with clear options. People who face bankruptcy may feel like they’re floundering and helpless in a situation that’s out of control. A good attorney can help mitigate these feelings by carefully reviewing and discussing all your options and giving you clear advice on how to proceed.
- Preventing errors. The stress during bankruptcy would go up significantly if you make mistakes during the process. Your attorney will carefully review all the documents you need and help you follow all the necessary steps.
- Working towards a favorable outcome. If you’re facing bankruptcy, you may have the feeling that you’re going to lose everything. However, when you work with a bankruptcy lawyer, you may find out that the outcome for your case is more favorable than you thought. Maybe you won’t have to go out of business; maybe there are still a number of assets you can hold onto.
Having a reputable, experienced attorney on your side is key to reducing stress and negative feelings during the bankruptcy process. Don’t hesitate to contact us for legal advice and assistance during a time that may be difficult – but not hopeless.