We hear it time and time again. “I’m too embarrassed to file for bankruptcy. I don’t know what my friends and family will say.” As our services aim to educate clients about all aspects of bankruptcy, we try to help people understand that bankruptcy is not a cause for embarrassment. Sadly, bankruptcy is familiar for many people of different socio-economic backgrounds. No matter who your friends and family are, you won’t be the first person they have known to file bankruptcy.
Filing for Bankruptcy is Okay
Bankruptcy might turn out to be a great blessing in your life. Anyone who knows and cares about you is probably aware that you are facing financial trouble. When they learn that you have filed for bankruptcy, they will most likely be happy for you. The bankruptcy process exists to protect those who are unable to fulfill their obligations as a debtor. Remember, filing for bankruptcy is a form of protection, not humiliation.
Lastly, most people won’t know that you’ve filed for bankruptcy unless you make absolutely no effort to hide the fact, or they search public records. The bankruptcy process is not as obvious and embarrassing as having your possessions publicly collected by the sheriff and a collection agency.
More often than not, people file for bankruptcy and many of their friends and acquaintances have no idea! It’s a public record, yes, but how many people are searching for your name in the public records? Unless you have a name that receives a lot of Internet traffic, you have nothing to be worried about on that front!