Up from Bankruptcy....

egohaslanded

Bankruptcy need not be the burden you think it is...
When it looks like all else is blocked and it seem's like Bankruptcy is your your only choice - it need not be a harrowing time. Why worry yourself to death? Why get yourself an ulcer? Why shout at your wife or husband? - You'll need your partner support more than ever!
Bankruptcy while it can be a terrible ocfurence does not need to be a terrible event...the best you do is accept reality.
Its upto you, but if you could see bankruptcy as a new chance to wipe the slate clean. After all, in one years time after being made bankrupt your debts are clear by making a declaration to the court to null and void your debts.
Then you're free! Start over, without fear from your creditors, they cannot hound you and they cannot take your assets.
You might think this attitude is gross, especially if you've lost money to a person or copany that went out of business.
But this attitude does allow you to carry on...
However, if fraud was committed and it led to bankruptcy then that's a different matter.
Society see's bankruptcies as failures. No this is not true, and you must not see yourself in societies yes. You are not a failure just because some zero's got a bit out of hand.

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Sidebar

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No wonder there are record number of bankrupts, when a government encourages borrowing and the banks are giving money out so irresponsibly/willy nilly to virtually everyone.

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End of Sidebar

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But think positive on this. Even the best industrialists and leading business men have been through a bankruptcy or three. Think: Henry Ford or Donald Trump. According to Mr. Trump you should not be ashamed of bankruptcy.

Think of bankruptcy as a learning curve of life. Its just lifes way of teaching though adversity.

For some people its easy to sit in on a sofa all day waiting for a welfare payment while at the same time mocking people who have supposedly failured but successful individuals (I sincerely hope that is you) know the real score.

myrnahaz

I'm not sure that everyone can take the reality of bankruptcy so lightly. My very dear friend suffered enormously as a result of her husband's bankruptcy (his business failed). She lost her home and their income was reduced to zero; she was unskilled but found work so that she could support herself, her husband (who had plunged into depression and could barely function) and two pre-teens. Their friends drifted away as they could no longer afford to keep up with them financially, and their family were totally unsympathetic. Claire battled for years to get her family out of the doldrums and currently has a pretty little home and a modest income - sadly, she also has very poor heath.
It's heartbreaking to witness what she has suffered as a result of bankruptcy and I can fully appreciate why it's so difficult for people to volunteer themselves for such a drastic action; far from freeing them from their burden, it can cause such heartache and hardship, both financially and emotionally, so please don't accept it as the easy option - it may be the only option but it's certainly not easy.
I appreciate that the Trumps of this world have successfully fought back to profit after bankruptcy, but I don't think I would be feeling shame-free if it happened to me - I wouldn't be rubbing my hands together and planning my next move, I'd be devastated and probably a little depressed and although I have no doubt that I'd get through it relatively intact, I imagine it would take me a long, long time before I could relegate it to my learning-curve list.