Bankruptcy Records

If you are in a business wherein cash has to be loaned out or
products/services have to be paid, then it will be best if you knew
about the debtor's track record, most specifically if he has filed
bankruptcy records before. If not, you might end up with a delinquent
debtor.

What are Bankruptcy Records?

Bankruptcy records show the files of debtors who were not able to pay
their financial obligations (whether property or assets) to the
creditor. This case is filed in a bankruptcy court, with the case
mediated by a bankruptcy trustee.

Why Search for Bankruptcy Records?

As a creditor or business owner, you need to know the status of the
person or the company you are going to transact with. Searching for
their bankruptcy and debt information records, if they exist, can give
you a bird's eye view of the individual or company's financial status
beforehand, and if they already are legally rightful to get a 'fresh start.'

It can also help you determine if there are liens available, or if
liquidation of assets is possible, just to make sure.

How to Search for Bankruptcy Records

You can get your records or others records easily by logging on to the
Public Access to Court Electronic Records (PACER) website. Registering
is free, although you need to pay 8 cents per record that you need to
access in the website.

To search for a debtor's bankruptcy records, you just need to put in his
full name, tax identification number or social security number. If you
are dealing with a company, you can search the company's name.

When it comes to your finances, it is best if you are sure of the
financial capacity of the debtor. You can only be assured of the
soundness of your contract if you conduct a thorough investigation of
the individual or company, most especially if they have filed for
bankruptcy before.

via: http://www.liveproof.info/check/