You probably are more familiar with that line in its original form, “Show me the moneyyyyyyyyyyy!” as screamed over the phone by “Jerry Maguire” the sports agent played by Tom Cruise in the movie of the same name.  Well, now the real life sports agent that inspired the Jerry Maguire character, Leigh Steinberg has declared bankruptcy himself.  You may be wondering why I am writing about this?  It answers a question I often get asked by potential clients, “Will everyone know I filed bankruptcy?”

In almost every case, the answer to that question is no.  While a bankruptcy filing is a public record, it is unusual for an individual bankruptcy filing to attract any attention.  That is, unless you are a famous sports agent who inspired the movie with one of the most memorable lines of all time.  In that case, someone (probably one of your creditors) is going to leak to the press that you have filed bankruptcy, and if they think it is newsworthy, you may end up in the paper, like Mr. Steinberg.

Fortunately, or unfortunately, most of us are not Leigh Steinberg and our personal financial situation is not newsworthy.  It does illustrate the point though, that if someone is really interested in you, or you have a creditor that has an agenda that involves public broadcast of your bankruptcy, it could happen.

For most people, the ones who know you filed bankruptcy are your creditors, because you have to give them notice, and anyone you happen to tell.  Apart from that, most of us just do not live lives worthy of publication in a newspaper.