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 because you will have increased your credit score into prime territory (above 680).

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.