Depression is Normal Experience During Bankruptcy Process

Going completely broke can be a very stressful experience, and stress often leads to depression. As part of the series of the article, Stages of Grief Contrasted with the Bankruptcy Process, this sixth article shows that experiencing depression can be a normal part of grief during the bankruptcy process.


Depression (Photo credit: Wikipedia)

Depression During Grief

Depression, when associated with a loss of a loved one you mourn, makes itself known in a variety of ways. When you experience worry, regret, sadness, and dread, these types of mourning are symptoms of being in depression.

You may worry about the funeral and its related costs, or how you will survive after being so dependent before your loss; you might regret not having done more for others who had depended on you; you will certainly experience sadness when you reflect on your loss; and you may experience a certain amount of dread, making you reluctant to accept your loss in a timely manner to prevent deep depression.

A few kind words and helpful reassurance from a minister, friends or family may help you though this stage of  grief, encouraging you to begin moving on with your life. Depression is a normal emotion that can provide a positive way to prepare you for separation from your loved one and a final farewell. Most of you just need to be reassured it is OK to move on with your life. A simple hug can often provide that kind of reassurance.

Depression During Bankruptcy

When you experience insolvency to the point you can no longer make financial ends meet, you can experience a great deal of stress, and in turn, you can become very depressed. Grief over your financial loss will manifest itself in a variety of ways. Here are some examples of depression making itself known:

  • Fear and worry may dominate your thoughts at any time while experiencing bankruptcy. You might worry about your lack of knowledge of the bankruptcy process; worry about how you will make financial ends meet when you have no income; and experience the fear of making moves to improve your condition because you are afraid it will be the wrong move.
  • Regret is a symptom of depression that can also dominate your mind at times when thinking about your financial condition. You might have regret because you started a failed business, quit your job, married a spouse who has not been able to support you, and for a host of other reasons.
  • Sadness is probably the most experienced symptom of depression during insolvency. You can experience sad events like the loss of your home, your job, retirement income, separation of a spouse, and a variety of others.
  • Dread is a symptom of depression because it is the emotion associated with being reluctant to move on with your life. In bankruptcy, you may postpone a meeting with a bankruptcy lawyer, dread attending your 341 meeting, refuse to share your insolvency with a spouse, or experience dread in many other ways.

The symptoms of depression experienced from bankruptcy can evolve to help prepare you for separation from your former lifestyle. You should be encouraged to recognize these symptoms of depression as a stage of the grieving process that they are normal and can help you move on to a financially fresh new start.

Bankruptcy lawyers, forums, family, and friends can be a source for giving you reassuring words and guidance to help you make the moves necessary for going forward with your life into a brand new financial lifestyle.

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