How Bankruptcy Affects People in Your Life

Carrying the burden of debt can cause anxiety and uncertainty, not just for you, but also for the people in your life. Friends, co-workers, and family may all feel the stress, but thankfully, relief is available through bankruptcy. This can give you a new start and get you headed down a more positive financial road.


Most couples list money as one of the main sources of fights in their relationship. They may have disagreements about how money should be spent, and when the budget is tight, this is just intensified. Dealing with debt together can cause division, but it’s also an opportunity to be united as a team. For many couples, choosing bankruptcy is a relief and gives a sense of control over a chaotic situation. It also helps to have a professional bankruptcy attorney guiding you through the process. I can help you decide which chapter of bankruptcy to file and also if it’s best for you to file jointly or for just one of you to file. No matter how you choose to move forward with getting your debt taken care of, know that a huge stressor will soon be removed from your relationship. Be patient with one another through the process and you may just come out stronger in the end.


Children are a lot more intuitive than we may give them credit for, and they can usually tell when something isn’t right in the home. No matter how much you try to shelter your children from the negative things in life, if you’re feeling stressed, they may pick up on that and feel stressed themselves. You may choose to share some of your financial struggles with them, while assuring them that you’re taking steps to improve the situation and will always take care of them.

As you recover from bankruptcy and change your spending habits, your children will learn by watching you. You can look for those daily “teachable moments” such as showing them how to compare prices while shopping or explaining that you’re saving for something you want rather than using a credit card. If your children receive an allowance, you can help them to create a budget that includes saving, spending, and generosity. These are lessons that aren’t necessarily taught in school but will serve them well into adulthood.

Moving Forward

If you’re ready to decrease the stress in your home caused by debt, you need to make some financial changes that might include bankruptcy. Feel free to call me with questions or to get more information to see if bankruptcy is the right fit for you. I can look at your situation and give you my expert advice, and I can also file your case to get your debt taken care of. Instead of worrying about money, you can invest in the people you love.