There is a great deal of stigma associated with filing for bankruptcy in our society. In the United States, every time a company is reported as having filed for bankruptcy, there is a sense of ridicule that the company is dead because they had failed by mismanaging money. Most people are not aware of the fact that a company can fail for bankruptcy without completely shutting its doors. It is the same way when movie stars or other celebrities file for personal bankruptcy. There appears to be a sense of collective laughter throughout the United States concerning the celebrity. It is difficult for people to understand how someone that at one point had a great deal of money could now be filing for bankruptcy. It seems sad and pathetic and in many ways a reason to hate that celebrity. But all these preconceived notions about bankruptcy are for the most part completely false.
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First off, anyone can eventually have to file for bankruptcy no matter how rich or poor they were at one point. For many people that suddenly come into a great deal of money, like celebrities, it is even more difficult for them to manage this new fortune than it was for them to manage the more meager salary that they had before they became famous. This is because many people cannot conceive of the amount of money they have and spend without any regard to exactly how much money they actually do have. As a result, they may be in dire straits not long after they received more money than they could even have conceived of at one point. But this does not mean that that person is a bad person.
In fact, no person that has to file for bankruptcy is bad. Many people feel emotions including:
- Intense embarrassment and guilt - it is common for people to try to hide the fact that they are filing for bankruptcy from everyone near to them.
- Anger - at themselves for not being able to manage their money correctly and perhaps anger at the companies that are trying to collect debt from them and forced them into this state
- Sadness - there is a sense of failure and overwhelming sadness that they were not able to live up to a certain standard.
But bankruptcy is actually a new start for many people determined to change their ways. Start learning about your bankruptcy options today by contacting an experienced bankruptcy attorney.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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