What’s the cost of financial failure? I had never given this a thought until I had experienced financial hardship in my own life. People never give reason or rhyme to why they have served themselves a bad deal. When financial crisis occurs you wouldn’t even begin to imagine the costs associated with the devastation.

For instance you have to determine what the financial failure is…A job loss, stock market crash, poor investment choices or no investment choices. What if indirect choices not even associated with finances directly affected you.

Let me try to clear this up a bit you see my choice was to start a business of my own, I worked hard and had my full time job at t he local telecommunications company. After suffering from lack of sleep and advancement in my business I made the choice to quit my day job, my security and financial stability.

This combined with poor well actually no financial management led me to financial devastation. I could deny all of this and base it on something else, yet I would still know the truth. When I made this choice I had no idea of the impact it would have on my life. I knew it would be tough, I just figured it would take me less time to achieve the level of success and wealth I wanted if I could dedicate all of my energy into my business.

It was just one month after I made this choice that my entire world was set upside down. My Mother passed away without warning, suddenly just two days after I had seen her. This rocked my world! My life spun out of control, I didn’t care anymore about anything. I blew over $100,000 of my inheritance on toys and trucks, instead of making the choice to pay my mortgage, my bills etc…

I know this sounds like a big “DUH YOU IDIOT” what were you thinking; and that my friends is my point. Most people don’t think about the choices they make about money. People and I mean almost 90% of the people in America are living in a facade, the truth is that that facade is has been blown wide open.

When local movie and television starts come together to speak out about financial awareness, you know there is a problem. When government spending has caused many a state especially here in CA. To point out their deficits to the tune of billions and billions of dollars you know there are serious neglects on many peoples parts.

Guess who gets to carry the burden of those choices you and I do. Not just our own choices but those choices of the people who we “elected into office”. By the way did you know that government officials don’t play by the rules you and I do. It’s quite obvious if you just read into it.

Regardless if you are in office or not, a Democrat or Republican or what ever other party you are associated with. Every official in politics sets two sets of rules. The one’s we must obied by and those rules they obied by. They are very different sets of rules. As I like to look at it as they are law makers and rule breakers.

Why shouldn’t they be subject to the same rules and regulations that we are? They’re exempt from the laws they put into place. So again what’s the cost of poor financial management. Let’s see your life and livelihood are at stake not to mention losses of housing, stability, family and friends. These are basic necessities that everyone needs.

What happens when you can’t find food or afford to eat, what happens when food shelters send you away empty handed or had out old breads and foods that have been in cans in the back of warehouses for what tastes like decades.

Loss of confidence and self esteem, embarrassment, humility and sense of purpose for life all demise. Depression and sadness rise up and beat you down. Financial insecurity that most people face is a sad and dangerous game to play. Because when the time comes to show your hand usually you loose.

If you have financial hardships you need to seek out the proper help and guidance from trusted professionals and resources. Possibly something as simple as an investment strategy, savings plans, debt settlement or mortgage modifications are all you need.

If your financial circumstances are more demanding then demanding and complex possibly a tax attorney/CPA are something you want to consider. Truly you want to have this type of support at your beck and call 24/7 and with your exclusive membership to Financial Destination Inc. You can have it all. Take the time to educate yourself with options, get involved with your life, join Financial Destination and receive First Class treatment like you have never experienced before.

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I hear this cry from many people worried about their financial circumstances after they have decided that bankruptcy is their only alternative when it comes to recovering from financial hardship. I’m not an attorney yet I work very closely with them in my real estate business.

On many occasions bankruptcy is leveraged to persuade a bank or lending institution to cooperate with a request to modify a homeowners mortgage or reduce unsecured credit card debt. Also bankruptcy is leveraged to stay (stop) a foreclosure. Many times this works as a strategy; although in certain circumstances it’s the only option.

I speak from personal experience when it comes to this, I had to file for personal bankruptcy several years ago to save my home from foreclosure. I figured since I was able to restructure my debt I would be alright. I went ahead with the bankruptcy filing to save my home from being sold at an auction, little did I know this was the beginning of my financial school of hard knocks.

I wound up not being able to make the payments to the trustee of the courts, which was violating the agreement I had made with the judge. I wound up dismissing my own BK so I could sell my house and make a run with the profits so I could find another place to live.

This is where my story “The Pillars of Wealth” really began. It was here where my eyes really were opened into the financial world and how if you weren’t involved in making the correct choices, you were going to be consumed by it. Take a look at our financial hardships as a Nation currently; our jobless rate and unemployment rates are skyrocketing; our unemployment offices are running out of money.

The “Wall Street/Main Street”meltdown, global economic chaos and crisis. The truth is we have really only seen the beginning. Once the foreclosure moratorium is lifted a new wave of homes and struggling families will emerge as the new generation of victims to this tragedy.

So back to my opening statement with bankruptcies on the rise as more and more families face tough challenges we find our world torn between the rule of 7 to 10 years of derogatory remarks pertaining to bankruptcy, the “taboo” of what bankruptcy means etc…

When making the decision to file you need to find a compassionate attorney, one who actually has your interests in mind not theirs I highly recommend using the “Discount family legal plan of America” through your “First Class FDI Membership”. Of course you can use your own sought out attorney yet with this membership you receive flat rates on Chapter 7 bankruptcy as well as discounted legal advise if you go outside of your free services. I’ll get more into that in another article as for now the recovery from a bankruptcy varies depending on which chapter you file. Chapter 13 is the worst bankruptcy you can file for.

Not only do you have to keep all of your debt, repayment to your creditors over a max three year period. You still have to budget your regular monthly expenses and the new proposed payment for the bankruptcy. Your credit is plagued with the bankruptcy for a period of 10 years instead of seven, you are not allowed to obtain new lines of credit during the repayment and a whole slough of rules to obied by.

With a chapter seven the bankruptcy is on your credit report for a period of seven years and you can start rebuilding after a two year waiting period. You figure out how to recover your finances, plan accordingly, and begin to establish a regular savings and investment account. You can continue to acquire financial stability during the bankruptcy, as long as you do not use credit during the “freeze or cooling” period.

I remember the feeling of receiving my first line of credit after my bankruptcy, the pride and confident feeling of recovery, then within a period of 9 months I had established a second line of credit and then a third. The same thing for my wife, we rebuilt our financial lives back from rock bottom. One line of credit at a time, one dollar at a time.

We knew the true value of credit, making good choices as opposed to running on an empty wallet, maxed out credit cards and the error of our ways (which indecently were mostly my decisions in the end.) I knew I had poor financial skill when it came to managing money long ago, I just never realized what the outcome would be.

My parents (mainly my Mother) spent money she hadn’t even received. I had become to accept this as normal, bankruptcy had happened in my before. Yet as a child I didn’t understand, even as an adult most people know that filing for bankruptcies are not good, many people that have not experienced this cannot relate to the concept.

Your pain is temporary although the pride that gets hurt in the process can scar you for a long time. This isn’t a bad thing and you shouldn’t look at it as one either, take the painful lesson, learn from it, take corrective action steps to change your money psychology.

Remember the path that brought you to this junction in the first place; then as you begin to educate and rebuild your financial security, you will be more proactive in making smarter financial choices. It’s from this point that success develops and becomes habitual for you. This is when you start to shine, choices you used to make seem so trivial.
You wonder why you had ever walked this path in the first place, you realize that your having to have it all now attitude. The “instant gratification mindset” or what I like to call consumerism mindset; you used to have will always tempt you to make impulse purchases, try to get you to blow your money like you used too.

However then the remembrance of your financial trial and tribulation, your onset to bankruptcy in the first place will dominate your feelings and the subconscious mind will usually prevail if you just listen. Otherwise you wind up living the time old phrase that states…

”For those who don’t learn from the past; they are doomed to repeat it.” Look at our current financial situation once more before we go, where do you stand today? Are you thriving or barely surviving? Only you know where you are, only you know how to stop the pain. I can guide you, I can even mentor you but only if and when you are ready.

Seek me out, ask for assistance and you shall receive. In fact coming in August I am releasing my first “financial fitness from financial failure courses” Whether you are looking to gain exposure to new resources to help with your finances, learn new ways to create consistent returns on your portfolio, build a business to invest or get out from under your current financial hardship circumstances. We will have the solution for you.

If you have not taken the time to download my book “The Pillars of Wealth” I suggest you do it now just click on the title above and you’ll be taken immediately to the download page to receive your copy.

If you feel that a book won’t help your situation you should take the few minutes to watch the “Financial Destination Inc.” video, then head on over to the main page to learn all about the Financial Destination Inc., a company dedicated to serving all of your future financial needs and learn what we can offer for you.

I guarantee this is the fastest way I can think of to recover from bankruptcy, financial hardship, all while learning the secrets to being successful with your finances; taking charge and control over your life once and for all, instead of always being the victim.

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