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Managing Stress and Anxiety Amid Bankruptcy Proceedings

Bankruptcy is more than a financial challenge- for pretty much everybody going through the prospect, it is also a considerable psychological and emotional journey as well. Financial struggles are a significant source of anxiety and stress that can feel overwhelming, and make the process even more difficult. Often a last resort, bankruptcy can escalate a range of emotions, from fear and shame to panic and a sense of failure. It is critical to recognize that these feelings are a normal response to such a situation. In order to not be overwhelmed and be able to effectively approach challenges with a clear mind, it is essential to address these emotional aspects and develop a set of tools for handling your stress. Below we outline some ways to prepare yourself mentally and emotionally for bankruptcy and manage your stress as you navigate this process.

Ways To Cope With Stress And Anxiety

  1. Establish a daily routine: Creating and maintaining a daily routine will help you keep a sense of control and normalcy. Consistency in sleep patterns, meal times, and exercise will reduce stress significantly and assist with mental health.
  2. Allow yourself to acknowledge your feelings: Acknowledging that your emotions are happening and are normal is key. Suppressing such emotions means you won’t be able to address them in a healthy manner; recognizing your feelings will allow you to address them constructively. 
  3. Utilize your support systems: Bankruptcy can often engender a sense of shame or secrecy. By sharing your struggles with people you trust, you can perhaps get some relief, and they may even provide fresh solutions or perspectives.
  4. Professional help is okay: If you start being overwhelmed by anxiety and stress, try seeking professional help. Counselors or therapists who specialize in financial stress can assist with the emotional impact of bankruptcy by providing practical strategies to help cope.
  5. Mindfulness, meditation, and relaxation techniques: Techniques such as yoga, deep breathing, or guided imagery may offer a necessary break from your financial woes.
  6. Learn as much as possible: Educating yourself as much as you can on the bankruptcy process can help you feel more in control of your situation because you’ll know what to expect. This can dispel some stressful misconceptions and fears.
  7. Use the opportunity to create new financial habits: This can be a chance to embrace better financial habits, such as tracking expenses, creating a budget, and avoiding unnecessary debt, so that you don’t get financially stressed in the future.
  8. Set achievable goals, and follow through: It may seem impossible or overwhelming to try and dig yourself out of a financial hole all at once, so start by setting more realistic goals. It can be as easy as saving a small amount from your paycheck per week, or creating a monthly budget. Not only will this help with financial planning, it can boost your confidence in your ability to plan for your future.
  9. Focus on the little things: Find joy in the simple things that bring intrinsic happiness, such as spending time in nature, hanging out with loved ones, or cooking a favorite meal.

Contact Us Today

Bankruptcy is going to be a challenging journey no matter what- but with the proper support and coping strategies, you can healthily manage the anxiety and stress. An experienced bankruptcy attorney can help you through this process. Call BCN Law Firm to schedule a consultation today.