The case of bankruptcy is usually initiated by the debtor and then imposed via a court order. Hundreds of companies are declared bankrupt every year, not being able to repay the debts that they take from various creditors. A bankruptcy list is maintained by each country meticulously recording every detail of the case. With the help of the available bankruptcy records and a bankruptcy database, it is possible to understand the cause of bankruptcy. Also if the organization recovers from this status, it can always refer back to the data and check what went wrong.

Choosing a reliable database for bankruptcy information

Bankruptcy data is confidential and companies who have faced bankruptcy might not want the data to become public. However, there are companies who excel in creating a bankruptcy database. Millions of data regarding bankruptcy are compiled in the database. Minute details like case number, chapter of bankruptcy, dismissal or discharge, bankruptcy filing date and final status of the case is mentioned in the database. Ensure that the database you are using for gathering information contains accurate and proper bankruptcy leads so that there is no compliance issue. While creating the database, the data should be collected from local courthouses via authentic sources so that right information is obtained. The database should be made available to people on round the clock basis. Not only this, it should be easily navigable so that everyone can use the same with equal ease.

A bankruptcy database you can trust

Though there are many databases that enlist bankruptcy cases, BEB Data excels in the same. The bankruptcy statistics offered by us are updated and highly accurate. Our database has more than 20 million bankruptcy records and each record is compiled in the most scientific manner. Therefore when you are searching for a particular bankruptcy case, you will have no problem whatsoever. From case number to bankruptcy filing date, from bankruptcy chapter to final status, everything is there in the database in the most organized way. All the data in the database are DPV coded, CASS certified and standardized.

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Bankruptcy Statistics and Data for Your Business

Bankruptcy defines the legal status of an individual, a business or other entity which is no longer in a position to repay the debts that are owed to creditors. Bankruptcy is initiated by the debtor, and in most jurisdictions, it is imposed by a court order. The Federal courts give a fresh lease on life to those filing for bankruptcy , when they are in no position to pay their debts. The courts oversee processes which ensure that the loss to debtors is mitigated in the best way possible. It also helps to restructure debt for a failed business or provides structural and orderly liquidation of the failed enterprise and deters potentially dishonest claims.

Bankruptcy Records Maintained by Failed Businesses

For businesses which can no longer pay back its creditors and file for bankruptcy, keeping copies of bankruptcy records is crucial. These records pertain to both – the petition and the discharge. The first document filed in a case is the petition which is continually amended and updated with the latest information. The discharge is the court order which makes the business free of the responsibility of paying the debts and is proof that the debts are no longer owed by the business. These two records prove that your business debts have been discharged and you no longer are under any debt.

Court Bankruptcy Records

On the other hand, the courts also keep records of the bankruptcy petition filed by any bankrupt entity. Copies of closed bankruptcy case files are available for public viewing and can be ordered if so required. There are many ways in which one can gain access to bankruptcy data.

Public Access to Court Electronic Records (PACER) is an online public access service for court and docket information. Written requests can be submitted either through mail or e-mail for copies where the case had been filed. Copies of closed cases, which are archived in the Federal Records Center / National Archives, can be obtained directly.

BEBdata Houston has over 40 years expertise in the field of bankruptcy data compilation. Our bankruptcy database contains more than 20 million bankruptcy statistics providing information ranging from filing dates, discharges and dismissals to Chapter 7 and Chapter 13 and presenting our clients with bankruptcy leads. Our bankruptcy list is updated on a day-to-day basis, and we have a reputation of offering our clients accurate bankruptcy data.

Bankruptcy proceedings are carried out in designated bankruptcy courts here in the US. The courts maintain these bankruptcy records online and is available to the public.

Value addition made by accessing bankruptcy records

There are various reasons which may lead you to investigate a person’s bankruptcy records.

• He is your potential business partner and you want to be sure about his financial background.
• If you are a stakeholder in his business.
• The person in question has approached you for a loan.
• You are interested in helping the person or company that has filed for bankruptcy proceedings.

Where Can Public Bankruptcy Records Be Found?

• Case Files in Paper: Till 1999, bankruptcy records were maintained in paper format. The bankruptcy list can be accessed from the court where the particular case was filed.
• Electronic Case Files: Since 1999, most of the case files have been maintained electronically in bankruptcy databases. These can be accessed through the internet-based service known as Public Access to Court Electronic Records (PACER). One needs an account after which the service will allow you to search for bankruptcy court cases and the records.
• Telephonic Court Records: The Voice Case Information System is a telephone system available in all the bankruptcy courts. This free system allows interested callers to obtain bankruptcy statistics of a person or a business 24 hours a day.
• Older Court Records: Older case files and court records are transferred and preserved in the National Archives and Records Administration (NARA) from where they can be accessed directly.

BEBdata brings in a blend of accurate record keeping and dedicated focus on updating the records on a timely basis. The almost half a decade experience has helped us to gather a voluminous bankruptcy database that has helped professionals across multiple industries, law firms, insurance agencies, banks, financial institutions, to name a few. The bankruptcy list available at BEBdata in Houston has provided immense value to companies operating in these industries.

When a company or person is forced to file for bankruptcy they acknowledge the fact that they are unable to turn their losses into revenues and hence, need relief from further payment of their debts. Dedicated providers of bankruptcy records and leads deliver profiles of prospective clients, who are seeking legal representation, to attorneys.

Why Bankruptcy Records Might be required

When bankruptcy is filed, the record is filed either in the person’s name or the company’s name, as the case might be. Bankruptcy records are available for the public, and there are many reasons you might need to research records to find out why a person has filed bankruptcy. A bankruptcy list is vital if you want to take up a financial decision. Some other reasons would include the following:

• You need to know the financial position and financial history of your prospective business partner.
• A person has come to you for loan, and you are checking whether he is a person who can return your money.
• You are curious about the financial position of a specific business.
• You might even want to know the reasons for the person filing bankruptcy and his bankruptcy statistics.

Banks, financial institutions, law firms, and insurance agencies will find such databases amazingly valuable to grow their business and provide timely professional assistance to people in need.

Researching Bankruptcy Records with a Bankruptcy List

While going through a person’s bankruptcy records, two considerations are to be made:

• The reason for filing bankruptcy – The financial situation arising due to outstanding student loans and leading to bankruptcy will not be the same as the financial situation arising due to credit card overspending and leading to bankruptcy.
• The time of filing bankruptcy, which would expose a person’s current financial status – A person who had filed bankruptcy 10 years ago would be more stable financially than a person who has filed bankruptcy only a year ago.

With over 40 years of experience in the field of bankruptcy data compilation, BEBdata is the pioneer in bringing together bankruptcy data and list. The more than 20 million bankruptcy records in our bankruptcy database are well-researched and reliable with up-to-date and accurate information.