Fear stops people from taking action in all areas of their lives. The fear of someone finding out that you have filed for bankruptcy protection is a common concern among those who are considering this financial option. As a matter of fact, the question: Who is going to find out if I file for bankruptcy? comes up during consultations much more than you would think. This fear can stem from a variety of reasons; including the alleged social stigma associated with bankruptcy, the potential impact on credit and a person’s financial future, and the fear of being judged or viewed as financially irresponsible by friends, relatives or even future employers.
Bankruptcy is a legal process designed to help individuals and businesses who are unable to pay their debts get a fresh start. When a person files for bankruptcy protection, they are not morally bankruptcy. A bankruptcy is not a sign of personal failure or a reflection of one's moral character. People who think like that are sadly mistaken. Many people who file for bankruptcy do so because of unforeseen circumstances such as job loss, crushing medical bills, a divorce or the death of a loved one.
Even though bankruptcy is a public process, it’s important for people to know that even though your filing will be a matter of public record, most people will not go looking for this information and most people don’t know how to find this information. The only people with access to the bankruptcy court’s electronic records are creditors and other bankruptcy attorneys. Unless you come up on their radar as a case of interest that they are working on, they really don’t have time to cull the records looking for your information. Lastly, even if someone were to find out, you might be surprised to find out that they themselves have filed for bankruptcy protection.
Bankruptcy is temporary, and you can still do great things post-bankruptcy. Thank goodness that Walt Disney didn’t give up after bankruptcy. Other celebrities have also filed for bankruptcy protection and bounced back in their careers: M.C. Hammer, Toni Braxton, George Forman, Curtis ’50 cent’ Jackson, and Dionne Warwick just to name a few.
If you're considering filing for bankruptcy, it's essential to consult with an experienced bankruptcy attorney. Only an experienced bankruptcy attorney can help you understand the process and the potential consequences, as well as help you make an informed decision about whether bankruptcy is the right option for you.
Remember, the filing of a bankruptcy case can be a difficult decision for individuals, but it is not something to be ashamed of. It is a legal process that can help provide relief for those struggling with overwhelming debt. Bankruptcy is not a permanent mark on your credit, and with the help of an experienced bankruptcy attorney, you can move forward with a fresh start.
If you are thinking about filing for personal bankruptcy protection to deal with your debts, the Dellutri Law Group offers a complimentary strategy session with one of our Board Certified Consumer Bankruptcy Attorneys. You will discuss your personal situation and whether bankruptcy is right for you. We will discuss all of your available options. Bankruptcy is not for everyone, and we will let you know if you are a good candidate or not based upon your income, expenses, assets and debts. We want to help you make the best financial decisions for you and your family. Call the Dellutri Law Group today and experience The Dellutri Difference.
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