What You Need to Know Now About the Bankruptcy Public Record


There are many reasons why people resist the idea of declaring personal bankruptcy. For some, they are scared that they will never be able to buy a house or car again because of the damage to their credit score. Others try to use their savings or pension funds to cover the cost of credit card debt, and they often are only able to cover part of their debt anyway. Too often people don't realize that the creditors will still be after them even after the family has liquidated their savings, and these kinds of situations could have been avoided if bankruptcy had been declared early on.

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Now I'm not saying that bankruptcy is right in every situation, nor am I saying that it should be your first recourse when you run into some financial trouble. Bankruptcy is a serious step that should never be taken lightly, and there are often many other options that you should consider first. So be sure to discuss these options with your bankruptcy lawyer.

However, if bankruptcy is necessary in your case, you should not shy away from it because of shame or fear. For example, it is true that bankruptcy is a matter of public record, so people can find out about this if they do some digging. So what? Unless you live in a small community that publishes this kind of information, no one really has to find out.

Even if friends or family members do find out about your bankruptcy filing, this is not the most important issue. What you really should decide is whether bankruptcy is the best scenario for your family, and this is something that you'll have to discuss carefully with a financial adviser and a bankruptcy lawyer. Avoiding bankruptcy simply because it is too embarrassing is not a smart thing to do.

Once again, the most important thing is to learn as much as possible about the bankruptcy process and whether it would put your family in a better position to recover from your debt problems. Don't let the fear of public shame keep you from a tool that can give you a fresh financial start.


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