Personal bankruptcies are not published in any newspapers or journals (unless you’re famous). The only ones who will know you’ve filed bankruptcy are your creditors and anyone you tell.
Your bankruptcy is a public record in the court, but no one will see that unless they specifically search the court records for you, and why would they? Future creditors for up to 10 years will know through your credit report if you apply for credit with them, but after about two years if you’ve managed your credit well they won’t care either because you will have increased your credit score into prime territory.
Moreover, while bankruptcy should be kept as discreet as any other financial matter, it is not the stigma it used to be. About a million folks a year file bankruptcy in the United States. We are a high risk society and for more and more Americans bankruptcy is just a rite of passage.
Top 10 Myths About Bankruptcy
- Debt consolidation is as good as bankruptcy
- Everyone will know you filed bankruptcy
- You will never get credit again
- Filing bankruptcy will hurt your credit for 10 years
- Only deadbeats file for bankruptcy
- Your property will be sold by the bankruptcy trustee
- You have to hide assets to file bankruptcy
- It is expensive to file bankruptcy
- It is hard to qualify to file bankruptcy
- Taxes are not dischargeable in bankruptcy






