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Bankruptcy myth 2: The world will know you filed

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by , 11-02-2011 at 09:41 PM (1111 Views)
You will be relieved to know that only the people who have a reason to know that you filed for bankruptcy will know. Bankruptcy is a public record that can stay on your credit report for up to ten years from the date the bankruptcy is filed. There are computers at the federal courthouse where people can look up bankruptcies. In the Houston area, bankruptcies are also listed in a legal newspaper called the Daily Court Review that most people simply use for marketing purposes. The fact that you filed bankruptcy is not plastered on a billboard and there is no section of the regular newspapers called “Bankruptcy”. So, unless someone truly needed to know you filed, they won’t.

And you know what? Who cares if they know you filed. People can be very judgmental when they are not experiencing their own financial difficulties. I had an acquaintance once, which, upon hearing what I did for a living said, “I’m someone who pays my bills. I’d never be like one of THOSE people.” Two years later, after an income loss, he was contacting me regarding his bankruptcy rights. The people who love you and care about you will still love and care about you even if they find out you filed bankruptcy. If someone harshly judges you because you’ve filed for filing bankruptcy in Fort Worth, the issue is with them, not you.