Is Personal Bankruptcy a Matter of Public Record?

This is a surprisingly frequent question, and a big concern. Unless a legal proceeding is under a judicial seal, all legal filings are in fact matters of public record. However, most people outside the legal community do not know how to access bankruptcy records. The federal government maintains an archive of electronic records in a database called PACER – Public Access to Court Electronic Records. While it is public access, and account is required before you can obtain information. Furthermore, unauthorized entry is subject to prosecution under Title 18 of the US Code, with all activities and attempts to log on being tracked.

Credit Reports

Your personal bankruptcy will also show up on your credit reports from each of the different agencies. Negative information on your credit report remains seven years in the case of Chapter 13 bankruptcies, late payments, foreclosures, collections, and judgments. A chapter 7 bankruptcy will remain on your credit for 10 years. However, this is not a bar to rebuilding your life. The older these items become, the less they impact your credit rating. For instance, if you have a late payment that is only three months old, it will affect your credit much more than a late payment that was entered on your credit record three years ago. It may be a cliché to say that time heals all wounds, but in the case of your credit report it’s definitely true.

Other Places

You may be asked when trying to renew your credit if you have ever filed for bankruptcy. When you fill out an application, whether it’s for a job, for insurance, or for credit, these are considered legal documents. Answering falsely is the equivalent of answering fraudulently or perjuring yourself. Even though these items are not generally considered public record if they are ended into evidence for a lawsuit or prosecution, that evidence becomes part of the public record. While this might be inconvenient, and at times may even prevent you from doing what you want to do, it’s better to remain strictly truthful about your status.

Recovering

As you recover from personal bankruptcy, it’s a good idea to keep an eye on your credit report to make sure that all the facts are strictly represented. Part of your financial health means monitoring your credit report to make sure that all the information on it is accurate, and even that it belongs to you. Identity theft can happen even to people who have had bankruptcies, largely because companies that are extending credit know that those who have filed Chapter 7 and received a discharge cannot file another Chapter 7 for the next eight years. Likewise, those who have filed Chapter 13 face very close scrutiny if they file another Chapter 13 between two and six years after the first.

Call Us

Before, during, and after your bankruptcy we are here to help you out. Call us for your free initial consultation at our West Palm Beach or Fort Lauderdale offices, where we are open seven days a week to make sure that you can access the help that you need. At Van Horn Law Group, we have filed thousands of bankruptcies to help out people just like you. Get out from under your crushing debt, and start your life again.