Found this for anyone interested

dubiousone

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Government Proposes An End to The Stigma of Bankruptcy

Those facing bankruptcy may no longer have to fear being named and shamed in their local newspaper, the government announced this week. A new proposal this week suggests that bankruptcy notices in local papers will no longer be mandatory; they will be reviewed on a case by case basis, and will only go in if it is deemed necessary, though bankruptcy notices will continue to be published in the London, Edinburgh and Belfast Gazettes. The new measures are expected to come into force by the end of 2009.
Most people are understandably horrified by the idea of having their bankruptcy advertised for all to see, though the reality is that the notice usually buried in an obscure part of the paper that very few people read. Even so, these public notices play are large part in creating the stigma that bankruptcy has.
What impact this change will have on IVAs and the rest of the debt industry remains to be seen. While predict a surge in bankruptcies, opinion is divided on how much of a factor these public notices really are on the choice between IVA and bankruptcy. Several forum posters have claimed that the notices were one of the most important reasons why they chose an IVA over bankruptcy, while some of the Insolvency Practitioners who post have said they find it is a very minor consideration for the majority of their clients. If bankruptcy becomes a more popular choice in light of the change, perhaps IVAs will be encouraged by creditors. Creditors receive a very poor return from bankruptcies, and will not be pleased if they increase abruptly at the expense of IVAs.
No matter what repercussions it has for the rest of the debt industry, it is a welcome change. In the world of electronic records, the local bankruptcy notices seem like something of an anachronism, a relic of a time when the local newspapers were the most effective way of informing a community that an individual or a business had gone bankrupt. If the purpose of the notice is to inform creditors and local tradesmen of a person’s insolvency, credit records and the insolvency register are a far more effective way of doing this. If it is in some way an indirect attempt to stigmatise and shame those who file for bankruptcy, it is high time that the notices were done away with.