Helping Your Family Survive Bankruptcy 

They say that ‘money is the root of all evil’. They may be right since money is one of the leading causes of conflict in a relationship. There are times when fortune doesn’t favor us and the end result can be a mountain of debt, creditors constantly at the door, and the bank ready to foreclose. Bankruptcy is a difficult period for everyone, but you can survive it. Handled properly, it can help to make a family stronger, and perhaps a little wiser.

If faced with bankruptcy, the loss of a home, and perhaps even your car, the first thing to avoid is the blame game. Loss of a job is a leading cause of bankruptcy as is overextending one’s credit cards. It doesn’t matter if fault exists – what matters is learning from the experience, and building a better tomorrow.

That may sound fanciful, yet it’s exactly the path you need to take, and it’s a path that marriage counselors are well versed at helping families take. The loss of material possessions can be painful – but they are material and they can be replaced over time. You have your family, and it cannot be replaced. So how do you survive an event like bankruptcy? Here are a few suggestions:

  • forget the blame game
  • accept that mistakes have been made
  • learn to let go of what you have lost
  • plan for your future

A marriage counselor can help you through each of these areas. Letting go of what you have lost can be difficult, especially for children. By working together with a counselor you can regain your self-esteem and confidence, then start to rebuild your lives.

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