For many people, the idea that others could find out that they went bankruptcy is upsetting and unacceptable. They don’t want to be seen as someone who couldn’t manage their money or survive without support from the government.
Realistically, you need to understand that bankruptcies are real protections that were put into place to help consumers who have found it difficult to repay what they owe due to any number of circumstances. There is nothing negative about bankruptcy, because it’s nothing more than a tool to help you correct a financially upside-down situation.
That being said, if you’re still concerned about someone finding out about your bankruptcy, you shouldn’t be too worried. Very few people will have to be notified about the bankruptcy, so you could complete it and the people around you could be none the wiser.
So, who could find out about your bankruptcy?
As far as the public goes, it is possible for someone to find out that you went through a bankruptcy if they’re looking for it, but it is less likely that they will come across it in a newspaper or online. Bankruptcy isn’t advertised as much as it used to be, so it’s not common to see one in the newspaper unless it’s particularly newsworthy.
Internet publishing is less likely than it used to be as well, so unless you post about the bankruptcy, it probably won’t get back to friends or family.
Your employer could learn about the bankruptcy in some cases, such as if they search through the PACER index or if they run a credit check on you for some reason. That’s something to keep in mind if you think that the bankruptcy could have a negative impact on your job. However, for most people, the likelihood of an employer finding out is minimal.
The only people who really know about the bankruptcy guaranteed are those involved in the process. Creditors, your attorney and the judge, for example will all be involved in the case and know that you’re going through the bankruptcy. For the most part, this is a fairly private process that doesn’t have to be spread around to the public.