When you look at your financial situation and all you’ve done to try to correct it, you do feel like bankruptcy may be your only option. If you’re holding off on bankruptcy because you’re worried about who will be able to find out about it, then that might not be a good reason to do so.
Realistically, while bankruptcies are public record, you probably won’t have to worry about people finding out about your financial situation. Others would have to look for the filing specifically or be a creditor to see that you’ve gone into bankruptcy. So, people like your cousins or friends likely aren’t going to come across your bankruptcy unexpectedly.
Will your employer know that you went into bankruptcy?
Unless your employer is a creditor or there is some specific reason they have to be informed about the bankruptcy, it’s unlikely that your employer or coworkers will know about it.
While lenders look at your credit history to see if you have a bankruptcy and are trustworthy enough to lend money to, your employer is likely not going to be looking at your credit history to see if they want to continue employing you or to decide if they want to hire you.
Of course, there are exceptions, so if this is a concern, it’s valid to talk about your worries before filing.
The United States Courts offer bankruptcy searches
Remember that the US Courts do allow people to search for bankruptcies, so it’s possible that someone who has an inkling that you’re filing could look up your bankruptcy filing online. The same is true of your credit report.
However, depending on how long it has been since you went through the bankruptcy, it might no longer be listed on your credit report. You could also have the bankruptcy sealed, in some cases, allowing you to keep it as private as possible in court filings, too.
Bankruptcies fall off your credit report after around 7 to 10 years. You can check with the credit bureaus to make sure the bankruptcy is no longer listed once that amount of time has passed.