The notions of filing for Bankruptcy and enjoying the holidays are not as foreign as one might think. Most people will try to forget their financial issues around this time of the year, but the financial stress can never be far from the surface. Creditors do not go on holiday. One of the primary goals of a bankruptcy filing is to restore some financial sanity to people’s existence – so that they can enjoy the rest of their lives.

I admit, bankruptcy is not something people often like to hear, especially over the holidays. But if you think about it, the elimination of a mountain is actually something that you can look forward to.

I should be clear. If you’re considering filing bankruptcy, but not until the Christmas holidays are finished, now is not the time to go crazy with the credit cards. Debts intentionally incurred in anticipation of bankruptcy are akin to fraud and can be held non-dischargeable in bankruptcy. Therefore, I do encourage our clients to be as frugal as possible and recall the sentiment of the holidays as opposed to the materialism.

In short, while the stress from an overbearing debt load can diminish one’s happiness at this time of year, a bankruptcy plan can often be the perfect remedy and re-establish a sense of stability and financial security that is priceless and even enhance the joy of the season.

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