confidentiality
I`m thinking about filing for personal bankruptcy. I can`t keep up with payments and i`m getting the phone calls from the companies.
A few questions:
1. If one files for personal bankruptcy, how confidential is it?
2. What are the steps that one needs to do before going to see a `trustee`?
3. Does the person that files for bankruptcy need to contact the companies?
Thank you…you are very helpful as I asked a few questions before.
Posted from: Ontario
Technically, your bankruptcy filing is public information so froma legal standpoint, it is not confidential at all. From a practcial standpoint it is fairly confidential in that in most cases your name isn’t published anywhere, and the the only persons that are notified about your bankruptcy are the people that you owe.
There is nothing that you have to do before you call a trustee, but you’ll find your first meeting more productive if you have a good idea of who you owe (writing out a list is a big help) and where your money goes every month.
Your trustee will look after contacting the people that owe (based on the list that you give them) – you don’t need to speak with your creditors again once you’ve filed.
If you’ve asked questions before then perhaps you shopuld give some thought to actually calling a trustee – they will be able to give you specific advice about your situation…