Curious about whether you can look up bankruptcy online? In this article, we’ll take you through what bankruptcy records are and how you can search for them online. We’ll also explain what the information in these records represents and how to understand that.
The tools we’re going to cover include government-run databases like PACER, commercial services, and some free online tools. To learn how bankruptcy searches work and how you can use them yourself, keep reading:
Finding Bankruptcies Online
There are multiple ways you can find bankruptcies online. In this section, we’re going to take you through the four easiest ways to do this:
PACER
PACER is the best way to get access to federal court records, including bankruptcy filings. The main caveat, though, is that you’ll need to make an account and pay a registration fee to use it, and every subsequent search comes with an additional cost.
Regarding the fees, PACER does provide the most comprehensive access to cases of federal bankruptcy, so it might be worth the expense to you. If you’re unfamiliar with the UI, you might also have to go through a bit of a learning curve since it’s not the easiest thing to decipher. For legal professionals, researchers, and anyone wanting more in-depth bankruptcy information, it’s still the best way to go about it.
State-Specific Bankruptcy Court Sites
This is another paid method, and as such, it’s among the more effective ones. A lot of state bankruptcy courts let the public have online access to their records for a fee, which can often be lower than what PACER charges too (though your mileage may vary).
The availability and scope of the information can change depending on your state, though, so your results might be mixed. Some courts will only let you have basic case information, while others will give you all the details you could ask for.
To get state-specific bankruptcy records, you need to go to the website of the state’s bankruptcy court and follow the instructions outlined there.
Commercial Bankruptcy Search
Commercial companies aggregate data from a lot of different places, and they let the public access them online. This information can come from federal and state courts, and often lets you see more than other services do too, such as credit reports, business information, and analytics.
Then again, like the previous two, these services also typically come with a subscription fee and may not let you see all available bankruptcy records even then, so bear that in mind.
Free Online Bankruptcy Search Tools
These tools are pretty rare, and the data they offer tends to be rather limited, such as debtor names and case numbers, but they’re free. If your goal isn’t in-depth research, they’re a good option to go for, though you’ll have to confirm whether they cover your desired jurisdiction first. A free people search is a good example that can give you access to lots of useful information about a person, including their bankruptcy records.
If you do choose to use a free tool, remember that the data you get may not be as accurate as with the previous methods, so you’ll have to verify it from other sources.
Also Read: 7 Tips to Manage a Financially Struggling Business
What Exactly Is a Bankruptcy Record?
Bankruptcy records are public documents with detailed financial information about a person or business that has filed for bankruptcy protection. Generally speaking, they’ll include the debtor’s name, address, social security number, a list of creditors and the amount owed to each, a detailed inventory of assets, and the court’s disposition of the case.
Now, why might someone need this information? Lenders and creditors are some of the most common users; they’ll often look at bankruptcy records to assess the creditworthiness of potential borrowers.
This information is needed to make informed decisions about extending credit or entering into business partnerships. You might also need this information as a researcher or journalist to analyze economic trends, consumer behavior, and the impact of bankruptcy laws.
Your Guide to Online Bankruptcy Search
As a businessperson, knowing where and how you can get bankruptcy records is a valuable skill, one that you’ll need to learn sooner or later. Having read this article, you now know where to look and what information to expect.
Remember, if you’re using the info for a credit check or researching a business partner, the paid tools are the way to go so you get the best possible data. If you’re just curious, though, a free tool is pretty much all you need.
