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As a parent, you naturally want to protect your children from your problems as much as possible, especially if you’re in over your head financially. Your children may not even understand the nature of the difficulties you’re facing. However, they will likely sense something is going on, so if you’re speaking with a bankruptcy attorney, it’s also time to explain what is to come to your kids.

Talking to Your Children About Bankruptcy Protection

How Bankruptcy Can Affect Your Family

bankruptcy attorneyIdeally, you’ll want to file for bankruptcy and discharge your debts without impacting your children’s lives at all. Unfortunately, you will likely need to make some changes, especially if you’re unable to keep your house. If you need to move, explain to your kids that you need the money to care for your family. When filing for chapter 13 bankruptcy, you might also need to cut back on luxuries your children have grown accustomed to, but the transition will be easier if they understand why.

Choose an Age-Appropriate Explanation

If you have young children, try to offer the simplest explanation possible. For instance, you might tell them that you need to save money, without a detailed explanation of the foreclosure process. Elementary school-aged children will be able to understand more details, but emphasize that your financial problems are not their fault. If you have teenagers, being open and explaining the circumstances behind your debt issues and how your bankruptcy attorney is helping you find a solution will reduce some of their anxiety.

 

As one of Honolulu’s most experienced and accomplished bankruptcy attorneys, Greg Dunn, Bankruptcy and Debt Relief Attorney has the expertise to help blast away your debts. Since 1996, he’s helped over 12,000 people get a second chance at their financial lives with dedicated service and personalized legal advice. Visit his website for a closer look at how he can help, follow his Facebook for more professional insight, and call (808) 524-4529 to schedule a free initial consultation with this bankruptcy attorney today.

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