Filing for bankruptcy is never a decision that is made lightly. It’s important to realize that bankruptcy will have an effect on your kids as well as you. If they’re old enough to understand the general concept, it’s wise to be as upfront and honest as possible with them about what bankruptcy will mean for the entire family. Remember, while most people approach the bankruptcy process with fear and trepidation, it represents a path forward to a better financial future for you and your family. The process of filing for bankruptcy protection was created to offer hope to those in serious financial trouble. If you look at the process this way, it’s likely that your kids will pick up on it, too.

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