The Lifeworks Group, Inc.

By Chris Hammond, MS, IMH He was the responsible one, the one everyone depended on because they knew he would come through.   He was determined, focused, ambitious, reliable, detail-oriented and motivated yet here he sits having to make one of the hardest decisions in his life, one that would forever tarnish his reputation.   It is the decision to file for bankruptcy.   There is a part of him that intellectually knows it must be done as the numbers don’t allow for any other alternative yet there is another part of him that is not willing to admit failure.   And that is exactly how he sees it, as failure and a blemish to his name which will never be forgotten.   No amount of mutual bankruptcy filers including various famous or successful people seem to calm his anxiety or set him further at ease.   No amount of verbal encouragement from a variety of friends and family seem to lift his spirits.   And no amount of logical detailed analysis se...

By Chris Hammond, MS Filing for business or personal bankruptcy is one of the more difficult decisions you will make. Combine this decision with the unexpected negative emotions and at times things can seem to be overwhelming. See the article titled, “Surviving the Emotional Side of Bankruptcy” to help identify some of the negative emotions that are often experienced. Once you identify the negative emotions the next step is to cope and then finally to overcome the negative energy and look for what you can do. Regain control. There are many factors that are completely out of your control during bankruptcy but there are some factors that are within your control. The economy, the value of your home and in some cases the prospect of a job in your area of expertise is beyond your ability to change. However, your spending habits, budgeting, taking care of yourself physically, and increasing your income potential are within your control. Place your energy into evaluating your curre...

By Chris Hammond, MS The decision to file for either a business or personal bankruptcy is difficult enough. While you may have prepared yourself for the short-term and long-term financial consequences for the decision, most likely the emotional consequences have yet to be addressed. Each person is different and for some the emotional reactions are less than others but for the most part, each walks through the different stages although not necessarily in any particular order. By being aware of the emotional stages to the bankruptcy and learning to cope effectively you can begin to heal from the storm of bankruptcy. Shock – Is this really happening? This is the most immediate reaction to the reality of filing for bankruptcy and usually lasts for a couple of weeks. It is similar to a deer caught in the headlights of an oncoming car; you feel paralyzed, overwhelmed, and insecure about the decision you made. Worse, some your past decisions are what contributed to this moment so ...