Who Will Know About My Bankruptcy?
Many people who would be good candidates for bankruptcy hesitate out of fear of ruining their reputations. They worry that friends, neighbors, co-workers and relatives will know they have filed bankruptcy and perhaps judge them as irresponsible and unsuccessful as a result. They worry about whether a bankruptcy on their records will hurt their jobs or prevent their children from getting student loans.
Our Neptune and Toms River Bankruptcy Lawyers Can Answer Your Questions About Consequences of Bankruptcy in Public Records
These are valid concerns, and you are strongly advised to consult with a lawyer to discuss your strongest worries related to a possible bankruptcy filing. Getting a reassuring answer to the question of “Who will know about my bankruptcy?” can help overcome mental hurdles that stand in the way of a promising path to debt relief.
In general, your bankruptcy will probably be as private as you decide to keep it. While it is true that your bankruptcy will be a matter of public record through the bankruptcy court, it is not likely that most people in your life will go searching for that information. You may feel compelled to disclose it to family members who have lent you money. The strength of your relationship may determine whether these personal matters will remain confidential within your extended family. If you own a small business, you may need to have difficult, frank conversations with business partners. Ideally they, too, can help you keep this information as private as possible.
Otherwise, a personal bankruptcy does not usually need to become publicly known unless the debtor chooses to disclose it within family or social circles.
On the other hand, potential creditors will naturally learn about a bankruptcy when they request credit reports. Once bankruptcy becomes a real possibility, however, this is less important than the benefit of a fresh start for most people.
It Is Natural To Worry About The Effect of A Bankruptcy on Your Reputation — Talk About This and Other Concerns in A Free Attorney Consultation
Our Monmouth County lawyers can answer questions you have about how a bankruptcy on your record will probably affect you. If you need an evening or Saturday appointment, let us know. Call [nap_phone id=”LOCAL-REGULAR-NUMBER-8″] local or submit an email request for a free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.