To determine the likelihood or
legality of repayment of a debt; determine the filing status, filing type, debtors and liabilities.
Prevent legal recourse resulting from violating a stay.
When should I use a Bankruptcy Records search?
A Bankruptcy search is very important when determining the actual status
of an individual's assets and/or record of court proceedings. Contacting a
debtor who has filed bankruptcy resulting in an automatic stay could result in legal troubles. This offense against the bankruptcy code, 11 U.S.C.
Section 101-1330, is often punishable by a fine. The information
returned from the search can be used to request a Bankruptcy report.
This report is beneficial when determining the bankruptcy estate,
claims, discharges, unscheduled debts and overall equity. Unscheduled
debts may still be collectable even when an automatic stay has been
issued. This search is also great for prescreening or as supplemental
data to a credit report.
