Is bankruptcy a public record?

Yes, bankruptcy is a public record in California. Bankruptcy law is designed to provide financial relief to individuals and businesses that are struggling with debt. When someone files for bankruptcy in California, the law requires them to make the filing available for public record. This means that anyone can view the filing, including creditors, landlords, and potential employers. There are two types of bankruptcy proceedings in California-Chapter 7 and Chapter 13. Chapter 7 bankruptcy is considered a “liquidation” proceeding, which means that assets are sold and the proceeds are used to pay off creditors. Chapter 13 bankruptcy is a “repayment plan” proceeding, in which creditors are paid off over a set period of time. Regardless of which type of bankruptcy is filed, the proceedings are accessible to the public. Additionally, if a person or business successfully completes a bankruptcy filing, the proceedings will still stay on record for 10-years in California. This means that potential creditors, landlords, or employers may be able to access the filing even after the bankruptcy has been completed. Overall, because bankruptcy is a public record, financial transparency is expected from people and businesses alike. Bankruptcy proceedings should not be taken lightly, but can be a useful tool for individuals and businesses that are struggling with debt. It is always recommended to consult with a qualified bankruptcy attorney before filing for bankruptcy in California.

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Is bankruptcy a public record?

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