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Bankruptcy is scary. For many people, it represents failure and is a place they never thought they would be. However, siphoning out the truth from bankruptcy’s mythical reputation can help make struggling individuals feel much better about considering it.

Let’s face it, the thought that all your friends and coworkers will know you have filed for bankruptcy is embarrassing. For some people, simply considering the fact that it’s public record is enough to nix the whole idea. And, yes bankruptcy is a public record. However, unless you announce it, or you’re high profile enough your financial struggles make front page news, chances are no one will ever know you filed but you and your creditors.

Thinking about starting over debt free is exciting, but thinking about starting over with nothing is not. Don’t worry, you’re allowed exemptions and it is very likely that the property you want to keep, you’ll be able to keep. Bankruptcy laws are strict, but they offer protection too. You may be able to keep important assets like your house, retirement plans and your car.

Bankruptcy does not ruin you for life. You will get credit again. In fact, many people that have filed bankruptcy begin receiving credit card offers within the year. Sure, they may be subprime lenders, and they will likely carry a high interest rate, but it’s a credit card and a way for you to begin building your score back up.

Making the decision to file bankruptcy may be difficult but actually doing it isn’t. With the help of a trusted and experienced attorney, you can start the process to financial recovery.  While the timeline from start to finish varies depending on the individual situation, most bankruptcies are discharged within six months. If you are considering bankruptcy, speaking to a bankruptcy attorney may help.