This is the big question that nobody can answer accurately because it depends on your personal situation as well as psychological and emotional makeup. It can be a huge relief or a terrifying burden. Either way, the fear of the unknown is what causes such anxiety. I am in the process of developing a program that would eliminate financial fears so you can focus on the reality of your situation.
And the reality is that life after bankruptcy is what you make of it. And I would make it an inspirational experience. You will have to learn about having to live without credit for some time. What it’s like to carry cash again to pay for everything…gas, groceries, lunch, etc. This can be a great thing as you will experience your cashflow more personally and it will aid you in making good decisions.
You will feel relief as your creditors will stop bugging you. This relief is countered, however, when you have to become responsible for paying your bills with money you’ve earned and not on credit. Speaking of credit, it is imperative that you begin a credit rebuilding plan. This will also open up the world of finance for you. Have your plan ready and begin to implement it the day after your file for bankruptcy. I can and will walk you through that plan.
With a good credit repair plan, you can expect that you won’t get a credit card for 1-2 years and a mortgage for a minimum of 2 years, but 3 years is more realistic. In this time, however, if you follow my course of action, you will be developing your safety net to secure your future. This will build your confidence and prepare you to responsibly move forward.
If you do the right things post-bankruptcy, you will soon forget the anxieties of going through the process and the struggles of starting over. You will probably forget when you filed and it will be inconsequential to your present and future plans. However, without a plan going forward, the patterns that got you into trouble will likely reemerge and get you into trouble again, and the bankruptcy will haunt you until you make solid changes in your life.