Have you heard that filing for bankruptcy could provide relief from your financial struggles – but you’re worried about what your neighbors, coworkers, or family might think?
That’s one worry that you can write off completely. The truth is that most people will never find out that you filed for bankruptcy unless you tell them.
A Common Myth, Unveiled
It’s a popular myth that when you file for bankruptcy, everyone will know – including your boss and co-workers, friends and family, and every neighbor up and down the block. But that’s simply not true. As long as you don’t tell anyone, the chances are that nobody will ever know.
The attorney-client privilege means that I won’t tell anybody, except my staff here at Pew Law Center, who respect this confidentiality as well.
But Aren’t Bankruptcy Records Public Information?
Technically, bankruptcy records are public information – but hardly anyone ever looks at them. Think about it: when was the last time you spent an afternoon perusing the city’s legal documents? Do you know anyone who has ever done this? Probably not.
No One Has to Know
There’s absolutely no reason to feel ashamed for filing bankruptcy. In fact, the majority of people who file for bankruptcy do so because of factors completely out of their control – like a job loss, or massive medical bills.
Still, it’s nice to know that your bankruptcy won’t ever be brought up in a casual conversation. In fact, no one will think anything about it, because no one will know.
Hit the Reset Button
There is, however, one thing that your friends, neighbors, and coworkers will know: that you have a new spring in your step, and a more positive outlook on life.
Filing for bankruptcy is a new beginning, which puts you on a different path to a better financial future. It’s like hitting the reset button on life, or calling for a do-over – and it’s never too late to do so.
No Longer a Stigma
In today’s rough economy, filing for bankruptcy has lost most of the stigma that it once held. Indeed, it is seen as a smart, last-ditch effort for people who have tried everything else. Your credit score can bounce back very quickly – after a year or two – and you can even qualify for a mortgage again.
The Choice is Yours…
Which sounds better to you: struggling deeply in debt for years to come, barely making the minimum payments on your bills? Or giving yourself a fresh, new beginning where anything is possible?
…But Don’t Rob a Bank
Know this: you are not alone in your financial troubles. So many Americans are having trouble staying afloat, even Hollywood has gotten in on the trend.
In the movie Fun with Dick and Jane, Jim Carrey’s character loses his job, which forces him and his wife to take drastic measures.
After their yard is repossessed and their home is foreclosed, they become bungling suburban vigilantes who try to rob their way out of debt. Note: Pew Law Center does NOT recommend this method – but we do recommend the movie!
We Are Here to Help
At Pew Law Center, we are dedicated to helping people get out of debt. Choose a better financial future now, and download our free guide: 6 Bankruptcy Myths that Could Destroy Your Finances (and What to Do Instead!)
Are you ready for relief? Please contact Pew Law Center today to arrange a FREE debt relief strategy consultation.