Five simple things you can learn from your bankruptcy experience:

1. Bankruptcy is not the end of the world. Bankruptcy is a rational choice you can make to get out of a bad financial situation legally. Once you have completed a bankruptcy, life does and will go on. Many people who have filed bankruptcy have gone on to be very successful. Donald Trump has filed for bankruptcy twice in this life, and most of us know he runs a multi-billionaire empire today.
2. Your credit can be fully restored after a bankruptcy. It may take you some time and learning new financial disciplines, but in time, you can completely restore your credit. Depending on the bankruptcy, the record remains on your credit report from seven to ten years.
3. The results of a bankruptcy often teaches those who have experienced it how to live within their means. You can learn from your mistakes. It is only when you keep making the same mistakes over and over that learning is a problem.
4. Owning things is not the official definition of success. Owning a new car, owning your home, owning any material thing does not mean you have necessarily “made it” in this life. Your sense of self worth and happiness far outweigh material possessions as a criteria for success in my opinion. Mahatma Gandhi was a very successful famous person, and he renounced the ownership of material things as anything important.
5. Hard work is what really works. When it is all said and done, hard work is usually always rewarded. The experience of rebuilding will be hard work, but with the right determination, anyone can do it.