Bankruptcy Court Records
American federal law provides for people to be able to file for bankruptcy if they are completely overburdened with debt and unable to pay off the debt. Bankruptcy laws have been brought in place in order to let people make a new start. There are 5 types of bankruptcy filings. They are chapter 7, chapter 11, chapter 12, chapter 13 and chapter 15 bankruptcy. Chapter 7 and chapter 13 bankruptcies mostly deals with individuals while chapter 11 bankruptcy usually deals with corporate organizations. Chapter 12 bankruptcy deals with fisheries and farms while chapter 15 bankruptcy deals with international disputes.
When a bankruptcy case is filed the records pertaining to the case along with a vast amount of information on the individual, which eve includes a lot of private and personal information is filed in public records which can be accessed by any member of the public. The information that is put up can be substantially rich in private and personal data and so is often a great source in running a check on an individual. The personal information that is put up includes detailed contact information of the person including full legal name, date of birth full address and even social security number. It gives the details regarding the bankruptcy filing like all of the credit accounts you owe money to. They also list the total amount of debt and record of any lien put on a property. All the assets of the person filing the request are also listed.
For this reason bankruptcy records are great for finding detailed information on a person. Bankruptcy records can provide a good number of information on any person. For this reason bankruptcy case records are great for checking the antecedents of a person. They also provide valuable info on an individual’s attitude towards debt repayment. Bankruptcy court records also are valuable indicators of a person’s financial trustworthiness as it can clearly viewed how the person has repaid debt and if he had made irresponsible credit card payments which led to his irrecoverable debt burden. In this way you can decide whether to do business with the person. Thus the bankruptcy court records can be used to look up any person if you need to do so. It may be important to check the antecedents of a person while giving employment and a partner before making a tie up. Bankruptcy records can give an idea of how much finances an individual or a company can be trusted. One may also want to run a check on any person applying for a job involving children and elderly people. An attorney may want to rake up records of an opponent’s client in order to gain in the case. They can provide important information regarding the assets and holdings of a person which can be used to determine the proceedings of a alimony or custody suit.
Bankruptcy court records can be viewed by anyone according to federal law but different states have different laws regarding this and how much of the information is viewable by the public differs from state to state.
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