In this day and age, most individuals and companies are very careful to keep their financial information as private as possible. Publicly held companies are required to divulge a wide array of financial results on a regular basis in order to keep their shareholders apprised of their status, but most if not all privately held companies and individual citizens would prefer to keep the state of their financial situation a closely guarded secret. However, if they run into trouble and need to declare bankruptcy, their finances matters can be made available in public record.
Most people would be surprised to learn just how much personal information is laid bare in bankruptcy court records. Companies 1 even offer to provide such information as “name and alias, address, business name, file date, county of filing, case number, social security number, and judges initials” from any bankruptcy proceeding within 1 day of receiving the request for a fee of just $23. For most people, aside from the embarrassment of being identified publicly as being bankrupt, the most troubling piece of personal information being legally sold here is the social security number.
Lawyers and those providing bankruptcy counseling would be well advised to inform their clients of the exact nature of the personal information that will be made public in the filing state to their clients as another factor to be considered when contemplating bankruptcy. In some states it may be possible to seal certain pieces of information relating to the court proceedings, or otherwise keep them out of the public record. Bankruptcy attorneys are familiar with the steps that can be taken in their state on behalf of their clients and ensure this service is a part of their services for clients involved in bankruptcy proceedings. Only an experienced bankruptcy attorney can provide absolute details on the nature of protecting your personal information during and following bankruptcy proceedings. It is important for you to request this protection. Continue reading ‘Experienced Bankruptcy Attorneys Can Protect Personal Information’ »