Even though bankruptcy is much more common than it was in the past, and people are more educated about their financial options, people still are concerned about who will know. Most people don’t want their friends and neighbors to know their financial business.

Bankruptcy is a public proceeding. It is not private, and if someone is looking at your credit report, they will know. First off, the companies you owe will be notified by the bankruptcy court. In the Chicago area, all bankruptcies are listed in The Chicago Daily Law Bulletin. Attorneys and court officials may read the paper, but most “normal” people don’t read it or have never heard of it. It is possible that one person’s bankruptcy can show up online, but that usually happens only if it is a famous person’s bankruptcy. The U.S.Bankruptcy Court has a website for use by bankruptcy attorneys and other parties to the case, but anyone that needs to access the court records must be registered to get a password. Some small town local papers may publish lists of bankruptcies, but, in my experience, there are none that publish bankruptcies in the Chicago area.

The bottom line is that even though bankruptcy records are public, someone would have to go through a lot of effort to find your specific case. Bankruptcy is not an easy decision for anyone, but it is an important, useful option to free yourself from your debt, bill collectors and lawsuits.

If you have concerns about who can find out about your bankruptcy, and how bankruptcy would affect you, we offer free in-person consultations with experienced attorneys.

Daniel J. Winter
BankruptcyLawChicago.com
djw@DWinterLaw.com
312-789-9999

Offices in Chicago, Gurnee, Oak Lawn, and Skokie, Illinois.