life in bankruptcy is not I've never been a bankrupt so why
an unbearable phase if you are you so deep in the dumps?"
look at it from a positive Forget about these people. Your
angle. If you found it immediate family will be the
unbearable, I'm sure you won't first to know your situation and
want to go through it again. only they can give you continued
While the court 'reorganizes' you love and support. Make a
by selling your personal assets checklist of names and how they
to pay off your debts, so too you can help you as much as what you
must reorganize your thoughts and can do for them, as well as
look forward to live a life of (very) close friends whom you
prudence. know can depend on.
Here are 7 tips you can apply to 2) Be responsible. And I mean
get your life back on track as REALLY responsible. Once bitten
soon as possible so that you can twice shy; don't get mired in
find a way to return to a debt again. You can blame on
lifestyle of less financial exorbitant increase in the cost
worries and gradually break free of living, that business partner
from the shackles of an who sued you or the failing stock
unpleasant past. market but they are not going to
say sorry anytime. It's time to
1) Seek sincere help. In modern take a critical look at your
societies where urbanites get too spending habits and evaluate
busy in their own lives, it is them, understanding where you
not surprising to have people have wasted and invested your
whom you know suddenly turn their money. Do a monthly
backs on you when you seek their plan-and-review for your savings
assistance. It's like they are and expenditure. A very good hint
thinking, "I can't believe it. of wastage is putting your money
in places you don't know much of. advisor to be your personal
Learn how to disengage from risks counsel. Set aside cash reserves
which you can't afford to get for rainy days or emergencies.
involved. Find adequate insurance to
protect your remaining assets and
3) Get paid work immediately. Get family. Avoid high-risk ventures
your life productive again. There or 'investments'.
is no more greater blessing than
learning to appreciate your 6) Keep track of all debts due
ability to earn your keeps. and paid to your creditors. Make
Within your checklist, you should sure your credit report is
have a couple of people whom you updated for the record.
can approach in this area.
Leverage on your experience and 7) Sharpen your financial
expertise to make an offer of literacy. Robert Kiyosaki, author
what you can contribute to their of "Rich Dad, Poor Dad" is a
benefit. strong advocate for personal
fiancial education. You can
4) Join a credit union. Such always pick up financial
helpful organizations can offer literature along the way and
loans which normal institutions think about how you may change
like banks will not do otherwise, the way you look at your wealth.
but make sure there's confidence You never know how truly rich
on both sides that you can repay people think differently about
the loan. their money from the rest of us.
5) Far too many people never had As the saying goes, "Time heal
a concrete financial/retirement all wounds." It will take years
plan even though they know it's to be a 'normal' person again,
important. Engage a financial but once you know you have
attained the discipline to others about the unhealthy
practice good habits, there's no influences of commercialism and
reason how you can fall back to consumerism.
the old self. As you become
wiser, you can better inform
About the Author:
Justin Koh is a freelance writer whose articles have appear in most major ezines. You can find his latest bankruptcy news and articles at http://www.bankruptcycentral.info
Source: www.isnare.com
