You are facing debt that you simply cannot afford. You have been considering all of your options, and you feel like it may be time to file for bankruptcy.
The problem that you have run into is one that many people face: You simply feel guilty about using bankruptcy to clear your debt. You assume that debt is your fault and your obligation, so you are not sure if you want to take the next step and use Chapter 7 bankruptcy to eliminate that debt, even though you know you could use a fresh financial start.
Reasons for bankruptcy
You are certainly not alone if you feel like this, but the thing to keep in mind is that bankruptcy and overwhelming debt may not be your fault at all.
For instance, many bankruptcy filings note that people have excessive medical bills. But if you had an emergency situation, or if you had to pay for emergency medical care for a child, that is certainly not something that is in your control. You are also not in charge of how much medical care costs in the United States or what is or is not covered by your insurance provider. In other words, you did not make any financial mistakes. You just got the necessary medical care, and now you have to address the situation based on a healthcare system that you cannot change.
Or, perhaps you lost your job. It does not mean it is your fault. Perhaps consumers in your area simply do not have as much disposable income as they used to, so the business is not making as much money and the company had to do layoffs. Job loss and wage reduction are very common reasons for bankruptcy filings, even though those employees did not choose to reduce their wages or lose their jobs.
In other words, you should not feel guilty about filing for bankruptcy, but you should simply take the time to look into all of the legal options you have to address your financial future.