If any of you have gone through a bankruptcy at some point in your life, you know your whole financial situation changed.  On one hand, all your debt was gone and a huge weight was lifted off your shoulders.  On the other, it is though you have been branded with a sign that says you are no longer trustworthy.

For a lot of people that go bankrupt, perhaps that isn’t fair.  If the reason you went bankrupt was because of something you couldn’t predict or prepare adequately for such as illness or extended hospital stay, you may wonder why people treat you this way.  In this case, it is not like you went out of your way to overextend yourself - rather, life threw you a curve ball.

A good example is mortgages.  For example, if you had a mortgage before going bankrupt and you didn’t lose your house, then you will eventually have to renew your mortgage.  Now, unlike any other time you were there to renew it, you will have to jump through a few more hoops and do a bad credit remortgage.  Usually this takes a little longer than a simple handshake, and you may find yourself paying a little more for interest.

You will find even your friends treat you differently after they find out.  If you want to see it in action, tell them you went bankrupt and then ask if you can borrow money - see how many of them say yes.

The road of recovery from bankruptcy is a long one.  If you are experiencing it, I wish you luck - don’t worry, things get better.  It is only a matter of time.