Financial Forgiveness: Letting Go of Your Emotional Debt Too

“A mistake made with good in your heart is still a mistake, but it is one for which you must forgive yourself.” (Linda Sue Park author of When My Name Was Keoko)

We are experiencing an interesting time in our financial history. There are still elevated levels of unemployment and under employment, as well as sizable outstanding consumer debt, and some of the highest mortgage delinquency rates since the Great Depression. Many individuals have had to consider extreme measures including not repaying their bills and leaving their homes.

Though fiscally understandable because of the substantial reduction in their income, these decisions do tend to take a toll on one’s emotional and spiritual being. We all understand that mortgages, loans and credit card agreements are more than just contractual obligations; they are moral and ethical ones as well. Therefore, when we are unable to repay those obligations we know we have broken an accord. We have made a mistake.

The financial aspects of these mistakes can be dealt with. The options include filing for bankruptcy protection, letting our homes go via short sale or foreclosure and entering into settlement agreements with our creditors. However, how do we go about dealing with the emotional and spiritual aftermath?

We must be able to forgive ourselves for the financial mistakes that we have made. We must come to a place were we accept that whatever financial missteps we may have taken are in the past. No matter what your intention was, the outcome has been determined. You can learn from your experience, you can grow from it; you can most certainly try not to repeat it. However, you must eventually forgive yourself and move forward.

Courts and creditors can grant you forgiveness from your financial obligations. Only you can grant yourself financial forgiveness. Are you ready?

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