Is a bankruptcy filing a public record?

You should be aware that bankruptcy filings are public record. Anyone who is interested in your financial information can get access to public records about you. When your bankruptcy has been discharged, it will appear on your credit report and on any background checks that may be conducted by potential employers in connection with offering you employment.  When you apply for a loan or credit cards, your creditor will review your credit to determine whether you are credit worthy. The bankruptcy discharge will remain on your credit report for 10 years in a Chapter 7 bankruptcy and 7 years from the date you complete a repayment plan in a Chapter 13 bankruptcy.  You may have more difficulty obtaining credit or even be denied a security clearance job when you have a bankruptcy discharge. The more recent the bankruptcy, the greater impact it has on your credit situation. Expect to pay higher interest rates on loans and credit cards for at least a few years after your bankruptcy discharge. Over time, your credit will improve.   

If you are having difficulty paying your debts, you may want to speak with a bankruptcy attorney to find out all our options for your financial situation.  Many people are embarrassed by having to file bankruptcy, but you should not be because there are millions of people who have had to file bankruptcy as a result of current hard economic times.  Bankruptcy gives you a second chance to start over again. The attorney can explain the procedure and the bankruptcy laws to you and represent you in bankruptcy court.