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Title Slide: Bankruptcy: Credit and Privacy | Attorney Ashley Renz Talks How Filing Will Affect Your Life
How will filing bankruptcy affect my credit?
It’s generally going to have a negative effect on your credit. You’re looking at, it could be upwards of 200 points that you could lose on your credit. So it is going to have a negative effect and it’s going to stay on there for a number of years. However, in the long run it might be beneficial to you. It just depends on your situation.
Can I keep my bankruptcy information private?
In a sense. When you file bankruptcy, all the creditors that were included in that bankruptcy will get notice of that. There’s not generally a broadcast to everybody, but all your creditors will get notice. You can go onto the bankruptcy website and see who is listed for different, what they call, 341 meetings. So if somebody really wanted to find out, there’s a chance that they could, but it’s not going to be broadcasted to everybody.
Music credit: Corey Cerovsek