When considering filing for bankruptcy, many people are concerned about the perceived stigma surrounding filing for bankruptcy, and are worried about people finding out that they have filed.\u00a0 Although certain debtors may feel they are part of the small few who get into financial trouble, this is truly not the case. In fact, according to the United States Court system, about 1.5 million people filed for bankruptcy in 2011 alone. This number has nearly doubled in the past 5 years.\u00a0 With the struggling economy, many people across the nation have fallen on hard times.\u00a0 Numerous people have found it hard to find and retain gainful employment, and as a result, have accrued large amounts of debt.\u00a0 Even people who were not hit by the failing economy may have experienced one major life event, like a medical issue or losing employment, that pushed them into a tough financial situation.\u00a0 Many people find that filing for bankruptcy is their best option to assist them with turning their financial situation around.<\/p>\n
Even though pursuing bankruptcy may be a good option, many people worry that individuals from their community will find out that they have filed.\u00a0\u00a0\u00a0 Bankruptcy filings are a matter of public record, so it is possible that someone could find out that you have filed.\u00a0 However, to find this information requires a bit of digging, so chances are your friends and neighbors are not going to be sifting through public records to see whether or not you have filed a bankruptcy recently. \u00a0It is very likely that none of the people in your community will find out that you have filed, assuming you do not tell them yourself.<\/p>\n
The only other people who will find out about you filing for bankruptcy are going to be the people associated with your case: your attorney, your creditors, the bankruptcy court and the bankruptcy trustee (including the United States Trustee’s office).\u00a0 All of these people deal with bankruptcies on a daily basis, and have received notices of individuals filing for bankruptcy. In fact, some get these notices on a daily basis.<\/p>\n
Some debtors may worry about who may ask if they have ever filed.\u00a0 That is something that could vary, but the most common people who ask this are mortgage lenders and leasing agencies at apartment complexes.\u00a0 You will not be banned from buying or renting property after you file for bankruptcy; however, many lenders and leasing agencies will want to know if you have filed.\u00a0 It is always best to be honest about this, especially since they will most likely be able to tell if you have filed anyway by looking at your credit history.<\/p>\n
If you have questions, or would like to set up a free consultation, contact a St. Louis Bankruptcy Attorney today.<\/p>\n","protected":false},"excerpt":{"rendered":"
When considering filing for bankruptcy, many people are concerned about the perceived stigma surrounding filing for bankruptcy, and are worried about people finding out that they have filed.\u00a0 Although certain debtors may feel they are part of the small few … Continue reading