Who Will Know About My Bankruptcy?

Broke businessman showing his empty walletWho Has to Know About My Bankruptcy Filing?

While filing for bankruptcy is a matter of public record, the fact is that not everyone has to know about the action. Outside of you, your bankruptcy attorney Denver, the court trustee, and your creditors, no one else has to be directly involved. In fact, the bankruptcy is likely to attract very little attention unless you decide to share details with friends and family members.

The amount of information that is available to the general public is kept to a minimum. Someone could certain look up court records and see that you have filed for some form of bankruptcy protection. What is lacking in that public record is details concerning your creditors and the amount that you owe. All that details considered proprietary in nature during the ongoing proceedings.When it comes to your creditors, they will have limited access to information about who else you happen to owe. Thisis done so that your privacyis respected. At the same time, your creditors do have the right to query the court about anything related to the specific debt you owe to each one.Like your bankruptcy attorney Denver, the court trustee will have access to all information about your finances. This will include data about your assets and income levels as well as your debts. This is necessary in order for the trustee to evaluate your situation fairly and make a recommendation to the court.

If you choose to keep the matter quiet, it is possible for friends and coworkers to know nothing about the bankruptcy action. This is especially true if you qualify for a Chapter 7 bankruptcy action. If you are embarrassed that things got to this point, there is no need to share details with others. Allow the court to handle the matter, then use the outcome to start fresh.

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