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Dealing with The Emotional Hardships of Bankruptcy

Financial pressures can be extremely stressful and hard to deal with. When the debt becomes overwhelming, filing for bankruptcy may be the only reasonable option to get you through your tough situation. Unfortunately, the bankruptcy process can add more stress to your current situation. However, to get through the process efficiently, it is essential to control your emotions.

There are some things you can do to help get through the emotional pressures of bankruptcy. It is always important to keep a positive frame of mind. You must first understand and acknowledge that you are going through a tough time, and that this process is here to help you get a fresh start so you can get your life back on track. The problem is that even the most mentally strong people must still deal with the possible stressors that come with bankruptcy.

As a person interested in stress-management techniques, I find bankruptcy to be among the primary causes of stress. When your debt gets too high, whether it’s from medical bills or other types of credit buildup, the stress can be severe because your situation may seem hopeless. Because of this, to me, it seemed that the mental techniques as described above were not enough to help manage the situation. I decided to do a little digging to see if there were any practical actions stressed debtors could do to help them get through the bankruptcy process.

I came across a thorough article that explained that the key technique to help deal with bankruptcy is to have someone on your side that knows and understands the process. With the unknown comes a sense of helplessness and desperation. The article stressed that if you have an expert on your side, they can walk you through the process and shed light on an unclear situation. Not only can a person with knowledge help you in this way, but he or she can also be someone to talk to and help give that emotional stability you need.

The same article brought to my attention another outside stressor that I failed to consider when dealing with bankruptcy: lawsuits. The article explained that pesky creditors will harass individuals with debt to collect money. The debtors are forced to deal with these lawsuits as well as the process of bankruptcy. The whole situation is complicated to tackle alone.

Bankruptcy is not the end of the road. In fact, it is to be understood as a fresh start. If you are going through bankruptcy, you need to keep this in mind, and you must always recognize that everything is going to be okay, as long as you seek an expert’s help. They will guide you through the unknown process and offer a shoulder to lean on. Bankruptcy is stressful, but the emotional pressures can be lessened.

Does Filing for Bankruptcy Affect One’s Fight for Custodial Rights?

One very important matter that needs to be settled by spouses who decide to divorce one another is who gets to have custody of their child – a decision which, if they cannot arrive at amicably, will have to be made by a family law court.

Though states may vary in some of the factors considered when choosing who the custodial parent should be, there is one principle adopted by all: the decision will have to be based on the best interest of the child. Thus, if both parents are deemed by the court as capable and worthy, it may decide on joint physical and legal custody.

Joint physical custody gives the former spouses equal time with their child, joint legal custody, on the other hand, will allow both parents to make decisions which will have direct effect on their child’s welfare. In some instances, based on evidences presented in court, full custody is awarded to only one parent, if such evidences can prove that the other parent is unfit.

Except for obvious proofs, such as alcohol and/or drug dependence, child abuse or conviction in a crime, judging a parent as unfit is not easy for the court. In some instances, though, one spouse’s decision to file for bankruptcy may be deemed by the court as a cause to deny such parent custody of his/her child.

Bankruptcy is a legal process filed by individuals who can no longer manage their overwhelming debts; it is a means that will help them regain control of their financial life. There are different types of bankruptcy law, each designed to fit a person’s specific financial situation, and there are tests conducted by courts to help them determine if a person is qualified to be granted protection through bankruptcy.

People who file for bankruptcy should know that it is never an escape from their creditors, but a chance to structure the best financial plan that will make payments not be burdensome for them. Though bankruptcy may require a person to sell some of his/her properties or to come up with a 3 to 5-year debt-payment plan (depends actually on the bankruptcy applied for), its greatest benefit is a fresh start and renewed control over his/her financial future.

A bankruptcy filed in the past or during the child custody proceedings itself ought to be considered irrelevant and, therefore, should not affect one parent’s fight to custodial rights. Some family law courts, however, may view bankruptcy in a different perspective – that is, as an indication of unsound financial management on the part of the petitioning parent. And when it comes deciding the custodial parent, financial capability is one of the factors considered by some courts.

Having an excellent family law attorney, who also has adept knowledge in bankruptcy law, to help you fight for custodial rights, would be necessary, especially if you believe that your contribution for your child’s future would have a better impact on his/her life. This is the same sound and wise advice stated in an article in the website of the BB Law Group PLLC in The Woodlands, Texas, due to the difficulty of the spouses in reaching a term agreeable to both.