As a Memphis bankruptcy attorney, I meet people every day who are embarrassed about filing bankruptcy. Occasionally, a client feels ashamed or regretful about financial decisions they’ve made. But more often, they worry about what other people will think. They know it’s the right choice for them, but it’s a whole different issue when their family and friends find out.

Maybe you feel similarly. If so, let me put you at ease. Bankruptcy is a valid and powerful solution to debt that can change your life. With the right attorney on your side, you have nothing to worry about. Here are three reasons you should never be embarrassed about filing bankruptcy:

1. Bankruptcy Isn’t Wrong or Sinful

Let’s get one thing out of the way right now: there is nothing wrong with filing bankruptcy. In fact, it’s a morally acceptable and legal way to get out of debt you can no longer pay.

The government designed bankruptcy as an option for people who know they need help. It’s meant to give us all a second chance instead of punishing and inhumane solutions of the past, like debtors’ prison.

What’s more, it’s Biblical. If you’re someone who worries about the moral impact of bankruptcy, you should keep this in mind: it was inspired by the jubilee laws of ancient Israel, which God commanded as an act of radical forgiveness. I discuss this at length in my free report “What Does the Bible Say About Debt?” which is one of our most popular resources. You can get it today on our site at no charge.

The main thing to remember is that bankruptcy is an act of grace. There’s nothing wrong with accepting that grace and getting a fresh start when you need it.

2. The Elites Aren’t Embarrassed About Filing Bankruptcy

Never forget that while use normal folks worry about bankruptcy and how it will affect our lives, the richest and most powerful people in the country use it every day.

Politicians, celebrities, and major corporations lean on bankruptcy. Many companies declared bankruptcy in the recession. Others have had to file bankruptcy after their businesses were crushed by the pandemic. Churches, non-profits, and even US presidents have filed bankruptcy.

For some of them, bankruptcy follows a major scandal or news of careless mismanagement. And yet for so many people in my office, it’s nothing like that. It’s medical bills, inflation, student loans, and rising rent. It’s years of trying desperately to stay afloat while costs went up and wages stayed the same.

Sometimes to avoid bankruptcy, those of us who aren’t elite will try other options first, like debt management advice or self-help books. But when those solutions fail, they sometimes leave people in even worse shape than they were before.

While bankruptcy is certainly a serious thing, some of the richest and most successful people in the world have used it to their advantage. If you need bankruptcy, you should do the same.

3. Bankruptcy Isn’t a Major Public Event

You don’t actually have to tell people you’ve filed bankruptcy. If there’s someone in your family who would judge you, they may not need to know about it at all.

Technically bankruptcies are public. When you file, they’ll publish notice of it in a dense section of a small local paper. That said, the odds of your loved ones reading that are slim to none.

Generally, you get to decide who you tell about your decision. You can be as open about it as you want to be.

If you’re concerned about how bankruptcy might affect your relationships and future plans, check out my popular free report “Life After Bankruptcy.” There, I help you think through how bankruptcy might impact your employment, family, and living situation. It’s almost always better news than people expect!

Choosing the Right Attorney for Your Situation

If you’re embarrassed about filing bankruptcy, you need a Memphis bankruptcy attorney who will listen to your concerns and support your decision, whatever it might be. You don’t want to feel pushed toward something that isn’t right for you.

Our team is known around Memphis for our compassion and expertise. We take your entire situation into account and help you think through everything before you decide. Then we handle it all so the process is as easy on you as possible.

There’s nothing to lose by having a conversation. If you’re overwhelmed with debt you can’t pay, contact us today. The conversation is totally free, no strings attached.

To get started, reach me at 901-327-2100 or use the contact form below.