Most people assume that the only cost of bankruptcy is the price of the lawyer.
However, in addition to increased financial costs, families pay an emotional cost in terms of lost opportunities due to lack of self-esteem, shame and financial fears. Just looking at these two purchases helps to uncover the hidden financial costs of bankruptcy. People say there's no stigma in filing for bankruptcy, but that's not true. It took me over a decade to talk openly about my bankruptcy, even though I used that experience to build an organization that helps thousands of people solve financial problems every week. They lose self-esteem and confidence, personal characteristics that trickle down to affect them in many ways.