There are many things to consider when you are going into bankruptcy. One important thing that you might not be aware of is that most of the bankruptcy options are going to give you a public record bankruptcy. A public record bankruptcy means that your bankruptcy is going to become a matter of public record. This means that anyone will be able to see that you have filed for bankruptcy.
Will your name and bankruptcy case number be published in your local newspaper?
That depends on the local newspaper. It could happen, but this is not always the case. The possibility of seeing your name in a local newspaper next to a bankruptcy case number may seem daunting, but having the knowledge that it might happen ahead of time can help you prepare for that event.
You should check your local newspaper for yourself and/or consult a local bankruptcy attorney who can tell you if that is a common practice in your area. Some newspapers do not publish bankruptcy filings.
So what does public record bankruptcy necessarily mean?
A public record bankruptcy is basically going to mean that your bankruptcy will be listed in public records that are put out by your town and your state. This means for as long as your bankruptcy is active - which varies from situation to situation, anyone who wants to know is going to be able to find out that you have filed for bankruptcy.
There might be several ways that you can have a non-public record bankruptcy. This is going to be up to the various situations that you are in, as well as your location. A bankruptcy lawyer or financial advisor will be able to give you more information about your unique situation and what this means.
If you would like to learn more about public record bankruptcy or anything related to bankruptcy please contact Wessler Law Firm.
Call us today and speak directly with an attorney for a free, no obligation, consultation to see if you qualify for bankruptcy and if it is the right decision for you and your business.
Wessler Law Firm is a small family owned law firm specializing in bankruptcy law since 1982.
Disclaimer: This article is meant for reference only, and is not intended to be legal advice. Be sure to consult a lawyer for a full explanation.