You are either seriously considering filing or you have already decided to file. You have come to the conclusion that this is exactly what you need. You need a fresh start, time to breathe, and some much-needed stress relief. Now you are wondering if anyone will know you filed for Bankruptcy. Will your neighbors find out? What about your boss? Will anyone find out I filed?

The answer to this question is long because there are a few things you need to know.

Will your creditors know you filed? Yes, absolutely. Your creditors will be specifically sent notice in the mail. The point of filing however, is that your creditors be informed immediately so they may cease all collection attempts.

Will the person who cosigned for/who I cosigned a loan for find out? Yes. They must be notified. This applies to spouses, ex-spouses, friends, relatives, and enemies alike. If you are jointly responsible for a loan with someone, that person will be notified.

Will my spouse find out? That depends. If neither of you have ever cosigned for each other, then probably not. Due to confidentially, our office will not contact your spouse to inform them. However, you must keep in mind that notifications and correspondence will be mailed to your home from the Bankruptcy Court. Our office does not encourage our clients to keep this from their spouse however, we also would not contact your spouse to inform them.

Will my ex-spouse find out? This also depends. The same rules for cosigning apply here. Even if no cosigning has taken place, your ex-spouse will be notified if you have an ongoing obligation to pay alimony or child support.

Who else could find out? Technically, Bankruptcy is public record. It will be reported on your credit reports so future lenders will be aware that you filed, which is discussed in the article titled “How Does Bankruptcy Affect My Credit Score?”

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