Will my friends, relatives and neighbors know I filed for bankruptcy?
Only if you tell them. There is no sign that pops up on your lawn saying that you filed and no scarlet letter to wear on your lapel that tells the world you filed for bankruptcy. In fact, we file for many people that live on the same street or come from the same family or work at the same job and they do not know about each other’s bankruptcy. Your future lenders will know when you apply for a loan and/or your future landlord if you apply to rent an apartment since your bankruptcy will appear on your credit report for approximately 7 years. But they will not be concerned if you have developed new and steady credit after your discharge. Your employer may know in a Chapter 13, since most cases are done with wage orders. This is not a negative garnishment. This is a voluntary wage order to ensure your case has a great chance of success. We would be happy to explain more details about this process when you call us.
Lee Abt is an Experienced Bankruptcy Lawyer in New Jersey - Call Today!