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Hidden Benefits of Bankruptcy

It is hard to imagine that anything about bankruptcy could be a “benefit.” After all, walking into court and telling a judge that you cannot afford to pay your bills is never pleasant! However, bankruptcy does offer some great benefits to those who are struggling with insurmountable bills, and some of these benefits are not immediately apparent. Oswalt Law Group in Phoenix wants you to know that there are ways you can benefit from a bankruptcy that may help you physically and mentally as well as financially.

  • Bankruptcy can be cathartic. The definition of “catharsis” is something that cleanses you physically or mentally. Bankruptcy can be a mentally cleansing process because it allows you to let go of the stress and worry that you are experiencing over paying your bills. It allows you to reset and start over in your financial life. This clean slate can be a great way to cleanse yourself of stress, fear and anger and set your face to the road ahead with high hopes for the future and for your family.
  • Bankruptcy can relieve stress-related physical issues. You may not want to file bankruptcy, but at some point your health may demand that you do. The human body was not built to withstand long periods of emotional stress. Emotions cause our bodies to secrete hormones that raise our heart rate, interfere with our digestion and cause other problems. By filing bankruptcy, you can finally relax and stop worrying about creditor harassment. This can lead to a much more stress-free and healthy mind and body.
  • Bankruptcy can mend relationships. As incredible as it sounds, bankruptcy has actually saved some marriages and other relationships. A couple who spend their time worrying about money matters are usually arguing on a regular basis as well. Instead of tearing each other apart over money matters, it may help to unite in bankruptcy and simply start over. You may find that you fight less and enjoy each other’s company more.

Oswalt Law Group is a full-service law firm that offers help for all types of bankruptcy needs. If you believe you may benefit from a Chapter 7 or Chapter 13 bankruptcy, or if you just want more information about bankruptcy filings, contact Oswalt Law Group today. We can help you get your financial life back on track and enjoy peace and prosperity rather than stress and grief.

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