As you may imagine, it’s useful for me, as a debt consolidation lawyer offering Indiana bankruptcy help, to keep in touch with the world of financial planning. I read professional journals about finance all the time, but in addition, I often speak with local planners. At a recent financial planning meeting, I learned, the discussion centered around what’s called behavioral finance, explaining why investment client behavior is often not totally rational.
I was repeating some of what the financial planners had told me to my colleagues in the five Zuckerberg bankruptcy offices. We’ve always known, of course, that stress has negative effects on a person’s health, and all of us lawyers for bankruptcy have been aware that people need to have a sense of support from others in order for them to take the steps needed to rebuild their financial lives. In fact, all during the twenty-five years I’ve been practicing bankruptcy law in Indiana, I’ve declared that I and everyone who works in my office will first and foremost be good listeners and “be there” for people, really hearing their concerns. Expert legal advice is needed in bankruptcy, yes, but support may be every bit as important.
That’s the very reason I decided, five years ago, to create this Bankruptcy in Indiana article series. I hoped that, as you read about all the people who have filed bankruptcy and then gone on with their lives, you would know you’re most definitely not alone.
What I learned from the financial planning materials, though, is the scientific reason WHY people who have been under so much financial stress that they are now filing personal bankruptcy in Indiana, need the help of an experienced bankruptcy attorney. It all has to do with the hominid brain.
We each actually have three brains, I learned:
- Our reptilian brain is the most primitive – it’s about basic survival, controlling breathing and heartbeat.
- Our mammalian brain was next to develop in humans. It’s about feelings and emotions.
- Our hominid brain is for higher reasoning.
The problem is, when we are under a great deal of stress or in imminent danger, our hominid brain shuts down, so that our immediate physical survival can become the priority.
How does all this science relate to the work our Anderson, Bloomington, Indianapolis, Richmond, and Columbus bankruptcy lawyers do?
Well, each of the steps leading up to bankruptcy has a purpose – and each has its proper timing and paperwork that must be submitted. Going through the process in good time and in good order is the way to get relief through bankruptcy in Indiana! The fact is, though, that the bankruptcy safety net needs time to work, and there are rules of Indiana bankruptcy law that must be followed, rules about mandatory credit counseling and rules about borrowing money, that must be done at the right time and in the right order.
When clients have spent the past few months (or sometimes the past few years) trying to explore every possible way, even when it was beyond hope, to keep their debts paid, their hominid brain is basically in no position to deal with all the moving parts that make up the process of filing individual bankruptcy in Indiana.
I guess we Indiana lawyers for bankruptcy need to step in and become their hominid brain for awhile!
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg