You feel as though you need a fresh start,  some time to breathe, and perhaps some stress relief. You’ve basically decided you want to look into Bankruptcy, but now you wonder if anyone will know you filed for Bankruptcy. Will anyone find out I filed?

The answer to this question is not short. In fact, it’s rather long because there are some things you should know.

Will your preferred credit card company know you filed? Yes. In fact, all your creditors will be sent notice in the mail by the Bankruptcy Court Noticing Center. Keep in mind that the point of filing is that your creditors be informed so they immediately stop collection attempts.

“I cosigned on a loan for my sister. Will she find out?” Yes—in fact, she must be notified. This applies to anyone you have ever cosigned for including your wife/husband, ex-wife/husband, current friends, former friends as well as your relatives. In short, if you are jointly responsible for a loan with anyone by way of cosigning then that person must be notified.

“My husband/wife has never cosigned something for me, nor have I cosigned for them. Will they find out?” This question is a little complicated. Our office will not contact your spouse with the intent of informing them, due to confidentiality. You must bear in mind, however, that notifications and correspondence will be mailed from the Bankruptcy Court to your home address. While our office does not necessarily encourage our clients to keep such an important event from their spouse, we will not be able to tell them without your permission.

“My ex-spouse never cosigned on anything for me or vice versa. Will they find out?” Your ex-spouse will be notified if you have an ongoing or past-due obligation to pay alimony or child support.

Who else could find out? The bankruptcy filing is public record, technically. Realistically, though—mostly everyone around you will have no clue unless you tell them. Bankruptcy is reported on your credit report and does indeed affect your credit score which is discussed in the article titled “How Does Bankruptcy Affect My Credit Score?”

Contact RS LAW today to find out if you are a good candidate for filing for Bankruptcy and how said filing will affect you.