Often, clients are insecure about filing bankruptcy. Some of their biggest concerns are that their family, friends or employer will find out about their bankruptcy. I understand that bankruptcy is a difficult and emotional process, and I know how important it is for people considering bankruptcy to maintain their dignity.
It is important to remember that bankruptcy, despite its negative stereotype, is designed to relieve the honest debtor who has been dealt an unfortunate hand. In many situations bankruptcy is the best option for debtors and will greatly improve their current situation by providing much needed relief from the burden of insurmountable debt.
Most people would prefer that it not be made public
The reality is that the only people who will receive notice of your bankruptcy are your creditors or anyone who could hold a claim against you. It is important to know that bankruptcy proceedings are a matter of public record and anyone who is interested can search the bankruptcy court to see if you have ever filed bankruptcy. However, someone would have to be looking specifically for you, which is an unlikely scenario. The bankruptcy will also show on your credit report.
Your Bankruptcy Will Not be Publicly Announced
Bankruptcy filings are not printed in the newspaper. If they were, the newspaper would be much longer. It is unlikely that your friends or family will ever know you filed bankruptcy unless you decide to tell them.
If you think you might have to file bankruptcy and are considering whether it would be right for you, come and see me, an experienced Arizona bankruptcy attorney that can help you understand your options. Call (480) 648-8975 today to schedule your FREE consultation.