Bankruptcy is the solution to serious debt problems that you’ve already been facing. We all make mistakes in life but filing bankruptcy in isn’t one of them. If you’re considering a bankruptcy solution, there have likely been situations out of your control; financial misjudgments in the past, or a combination of the two. When you’re bankrupt, it means that you have exhausted all other options to get back on track. To own past mistakes means that one can move forward with some gained wisdom. Learning from past mistakes is a key personality trait of any successful, smart person. Although there may have been challenges in the past; the decision to file bankruptcy can be necessary and ultimately, wise. Bankruptcy is not what gets people into debt, but can be what gets them out.
Share your life after bankruptcy so others can learn how it ultimately solves many serious debt problems.
There’s no reason to worry about “hiding” your choice to file bankruptcy. It’s admirable to tackle debt challenges with honesty and a bit of humiliation. Most people, including a business, wouldn’t have an issue with someone just because they had filed bankruptcy in the past. But, they may get upset or offended if you tried to hide it from them. If bankruptcy is right for your financial situation, then the protections and benefits of bankruptcy chapter 7 or bankruptcy chapter 13 can be life-changing. Don’t carry around a chip on your shoulder about having to file bankruptcy, instead, own it. Don’t brag about it, but don’t hide it either. If money problems surface in conversation, it’s an opportunity to share where you’ve been, and how bankruptcy got you back on track. Let people know that it was a lifesaver for you. Tell them what bankruptcy can do. Share how you’ve been able to rebuild credit scores,stop wage garnishments, get rid of creditor calls, and gain a fresh financial start.
Who Can See Your Bankruptcy
Unless you tell them, family, friends and neighbors are probably not going to know you filed bankruptcy. It is true that court records are public, including bankruptcy. The misconception is that just because something is public record implies that just about anyone can open your personal files. This is far from the truth. Bankruptcy filings are on a password protected website call the Pacer. Gaining password access to the Pacer System takes quite a lot of effort; not something for the casually curious person.
Major credit bureaus are going to have access to bankruptcy information. The stigma attached to bankruptcy is that because it’s on a credit record, credit cannot be restored. The fact is that people who file bankruptcy usually have terrible credit to begin with. The longer that creditors remain unpaid, the worse the credit score can become. The bankruptcy filing and discharge of debts is often what folks need to be able to rebuild credit. If you file with Debt Advisors law firm, they can direct you to lenders that work with those who have filed bankruptcy in the past. In addition, Debt Advisors offers a program called the 720 credit score that teaches people how to rebuild credit with or without filing bankruptcy.
As far as employers go, it’s their right to check bankruptcy history, and it’s their right to do so. However, most employers won’t check public bankruptcy records unless there is a real reason for it. Ultimately, a business could potentially use your history regarding bankruptcy as a part of their decision as to whether they want to hire you. The fact is, however, that most employers don’t. If they did, what would look worse….a bankruptcy solution or a bunch of unpaid debt and collection notices left unresolved? Own your bankruptcy and always remember: Bankruptcy is a solution, and not what caused the debt problem.