One concern that people often have about filing for bankruptcy is regarding the privacy of their financial situation. In a video featuring Margaret Henehan, learn more about who will have access to the information of a bankruptcy filing.
Transcript:
” Yeah, so I usually tell clients it’s really only people that are going to run your credit report. While bankruptcy is technically public information, it’s really hard to find public information. It’s within the federal court system. Many people know how to search state records, but federal records are much harder to search. Really, it’s going to be people you authorize to run your credit report. They’ll see the bankruptcy appear there. Employers are not going to find out, your neighbor, your family or friends, unless you tell them, you’re really not going to have that exposure.”
Public Information, Limited Access
While bankruptcy is technically public information, the accessibility to this information is more limited than one might think. It resides within the federal court system, making it somewhat challenging for individuals to obtain public records. This means that, unlike some state records, federal records related to bankruptcy are not easily searchable by the general public.
Credit Report Authorization
Generally, the primary individuals or entities who will be aware of a bankruptcy filing are those authorized to run your credit report. When bankruptcy is filed, it will appear on your credit report, and anyone you permit to pull your credit will be able to see this information.
Contact a Bankruptcy Lawyer Today
Given the complexity of bankruptcy laws and the potential long-term implications, seeking legal counsel is crucial. If you’re contemplating bankruptcy, you should consult experienced bankruptcy attorneys who can provide comprehensive guidance on the legal process, implications, and bankruptcy privacy considerations. Contact Kain + Henehan at (612) 438-8006 or complete the online form to schedule a free consultation.
