Many people shy away from filing bankruptcy because they fear that everybody will know about their financial problems and moreover that their situation will become public knowledge. You see, there is a stigma attached to bankruptcy like it happens to someone because they are a failure. Most of the time this is far from the actual truth.
Many people fear that their name will be entered onto a bankruptcy list and that this will seriously impede them from obtaining any kind of credit in the future such as a loan or a mortgage. They also fear that their neighbors and work colleagues will get wind of their bad luck and that they will be the talk of the town.
Now it is fair to say that there is a public record of bankruptcies which is called the bankruptcy list so you can be sure that with the many means of finding out about this sort of thing on the internet if someone wanted to do so, they could. Gone are the days before the internet when what happened in a person’s life remained private. Not anymore I’m afraid. Unfortunately such public knowledge can affect your personal reputation amongst friends and family but even so, this should not be your main focus. If you find yourself filing bankruptcy then the state of your financial affairs is what should be your main focus, not the gossiping of others about your private life. Sure, it concerns you but rise above it.
What you need to focus on for the most part is dealing with your financial woes and leave the gossipmongers to themselves. Bankruptcy may or may not be the right decision for you so make sure that you seek advice from a qualified bankruptcy attorney. He or she will help you make the right decision. Concentrate on getting your financial status sorted and you will be up and running again in no time, ready to face the world again.