Bankruptcy is the favored form of debt relief for more than a million people each year. Despite this impressive track record, some people are still concerned about a perceived stigma surrounding bankruptcy.
This fear of stigma leads them to ask who finds out if they file bankruptcy. If you file bankruptcy, your creditors and the bankruptcy court will know, but your family, friends, and employers often do not have to find out.
In addition, the stigma surrounding bankruptcy has been shattered, especially as millions of people obtain much needed debt relief from the process.
As mentioned above, if you’re filing bankruptcy, you may be curious who finds out if you file bankruptcy. Listed below are some of the different entities that will know about your bankruptcy:
Listed above are the people who will definitely know about your bankruptcy. Technically, your bankruptcy becomes a public record, so it is conceivable that other people could discover your filing.
This process, however, usually involves a lot of paperwork, and most people do not take the trouble to rifle through bankruptcy records. Nevertheless, people who may find out if you file bankruptcy include:
Thus, some employers or family members may find out if you file bankruptcy, but only under limited circumstances.
If you're considering filing bankruptcy, it's important to know all the facts and have clear expectations.
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