How To Keep Bankrupt Bankruptcy Secret

	Do you live in Scotland? As Scotland has its own legal system, distinct from that of England and Wales, laws relating to bankruptcy are different too. In Scotland, personal bankruptcy is known as sequestration.

	Will my friends and family find out if I am declared bankrupt? NOTE: If you have serious problems with debt and are considering bankruptcy, it is important that you seek professional advice before doing so. Being declared bankrupt is a matter of public record and so is impossible to keep secret. It would be very difficult - and probably unwise - to hide your bankruptcy from your immediate family simply because of the impact that it will have on your life and theirs. Whether you choose to tell friends is another matter, but they may find out whether you tell them or not. Once a bankruptcy order has been made, details are published in The London Gazette, an official publication which contains legal notices including bankruptcy notices. Details of your bankruptcy could also appear in local and national newspapers. And of course today there is the internet. Details of your bankruptcy will appear online in The Individual Insolvency Register which contains details of bankruptcies that are current or have ended in the last 3 months. Remember though, that the stigma attached to bankruptcy is no longer as strong as it was. You won't be the first person to be declared bankrupt and you certainly won't be the last.

Will my friends and family find out if I am declared bankrupt?

NOTE: If you have serious problems with debt and are considering bankruptcy, it is important that you seek professional advice before doing so.

Being declared bankrupt is a matter of public record and so is impossible to keep secret.

It would be very difficult - and probably unwise - to hide your bankruptcy from your immediate family simply because of the impact that it will have on your life and theirs.

Whether you choose to tell friends is another matter, but they may find out whether you tell them or not.

Once a bankruptcy order has been made, details are published in The London Gazette, an official publication which contains legal notices including bankruptcy notices. Details of your bankruptcy could also appear in local and national newspapers.

And of course today there is the internet. Details of your bankruptcy will appear online in The Individual Insolvency Register which contains details of bankruptcies that are current or have ended in the last 3 months.

Remember though, that the stigma attached to bankruptcy is no longer as strong as it was. You won't be the first person to be declared bankrupt and you certainly won't be the last.

© Bankrupt.co.uk 2007. All rights reserved. Please note the contents of this website are for information purposes only and do not constitute financial advice. Please seek independent professional advice before taking action that may affect your financial well-being.