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As unlikely as it may seem, parents often do not experience financial stress alone. Regardless of how minor or significant a family’s money troubles are, the children involved are most likely aware of it. Working toward financial freedom may not only benefit struggling parents but may also be extremely beneficial to children worried or embarrassed over their parent’s financial situation.

Families struggling with debt experience a gamut of issues. In the early stages of financial struggle, the overall lack of money can stress children out just as much as it does parents. Every parent wants to provide for their child, but when financial struggle makes it difficult, it is not just the parents that feel the pinch.

If financial struggle continues, family members may experience harassing creditor phone calls, past-due billing statements or, in extreme cases, a disruption of services and disconnection of utilities. When the situation reaches this point, the stress and embarrassment associated with it can significantly impact a child’s mental and emotional well-being.

Fortunately, struggling families have options. Working with an experienced attorney can help parents fix their financial situation and alleviate the stress it has imposed on their children. With the help of an attorney, parents can renegotiate their debts, stop harassing collection activity and, if necessary, file bankruptcy. Although children may be aware of the struggle while it’s happening, they do not have to know about the steps taken to remedy the situation.

Regardless of which stage of financial struggle you are in, it will likely, at some point, trickle down to your children. When this happens, the situation has become urgent and may require the help of an experienced legal professional.