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Debt may make you feel a variety of emotions

Hardly a day goes by when major newspapers do not have a story about debt. This makes sense, as the average American has roughly $38,000 in personal debt. This amount does not include mortgage loans.

If you struggle to stay on top of your consumer, medical, automotive or other types of debt, you may feel a range of emotions. Fortunately, you may be able to seek bankruptcy protection to help you manage your outstanding debt. You should, though, recognize the emotions you are likely to feel. 

Denial 

When individuals have too much debt, they often initially experience some denial about it. After all, you may think your debt situation has not reached crisis levels. Still, if you do not have enough income to meet your monthly expenses, you must act to improve your condition. As long as you are in denial about your debt, though, you may not do what you need to secure your financial future. 

Anger 

Struggling to pay bills can be enough to make even the most level-headed consumer angry. This is particularly true when unforeseeable events, such as an illness or injury, cause you to acquire significant debt. 

Shame 

If you are thinking about filing for bankruptcy protection, you may feel a sense of shame. You must realize, though, that millions of others are going through the same experience. Even though you may need to take advantage of bankruptcy laws, you should not feel like a failure. 

Sadness 

Choosing to declare bankruptcy may be the right course of action for you. In the short term, though, you may feel like your life may never return to normal. You may even experience sadness or depression. Fortunately, your debt situation likely will not last forever. 

Dealing with debt can be tough. By knowing which emotions you may experience, though, you can develop a plan for dealing with both your feelings and your debt situation.

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