It may be the last thing on your mind, but closing a bankruptcy case can be a perfect moment for teaching your family a valuable lesson about money, says Denise Brown, an attorney in Louisville, Ky.

"Use this as a teachable moment for your spouse and children on what you learned from the experience," Brown says. "Whether your bankruptcy was caused by the loss of a job, a family divorce, or too much spending, the path needs to be put in context and understood so that we don't follow this path again."

According to Brown, clients who talk about their mistakes with their family rarely return to bankruptcy court. And by sharing your plan to get back on track, Brown says many clients find that their family members can help hold them accountable.