Nobody likes to file Chapter 7 bankruptcy. However, when the pressure of debt seems insurmountable, the option of Chapter 7 may seem to be the only way to achieve debt relief. What a lot of people who settle on Chapter 7 fail to realize is that it stirs a whole bunch of other emotions and pressures.
Depression
Without question, depression is probably the most-often cited after side effect of filing for Chapter 7 bankruptcy. People who have financial trouble will lose sleep, become physically ill (the most “popular” physical effects include ulcers, heart conditions, hypertension), and notice a definite strain in their relationships.
Knowing ahead of time that depression is a side effect of Chapter 7 bankruptcy allows filers to prepare for what can be a very bumpy emotional road to their “fresh start.” By understanding just how bad the depression can get, filers can join support groups or seek advance-advice from their doctor or counselor. Continue reading ‘The Non-Financial Side Effects of Chapter 7 Bankruptcy’ »