Unfortunately in recent times the term 'Bankruptcy' has become a part and parcel of every American life. With the global financial crisis tightening its grip around the US economy, financial superpowers like the Lehman brothers and Wachovia bank have gone bankrupt resulting in thousands of Americans losing their jobs and in turn filing for bankruptcy relief. The state of South Dakota is no exception to this grim economic situation prevailing across the nation with South Dakota Bankruptcy Court records indicating a total of 1477 filings for personal bankruptcy relief for the year 2008.
The South Dakota Bankruptcy court is one of the six members belonging to the Eighth circuit bankruptcy court. The other members in the Eighth circuit include the bankruptcy courts of Arkansas, Iowa, Missouri, Nebraska and North Dakota. Bankruptcy makes an organization or an individual incapable of paying their debts due to their deteriorating financial condition. If you are investing money in a company that is bankrupt you may end up losing a substantial portion of your capital. Similarly a bank is likely to incur a loss lending money to a person who cannot pay the loan back. Thus a financial viability check is a must. This can be done with minimal effort and cost as South Dakota Bankruptcy Court Records are available online for the general public.
Access South Dakota Bankruptcies Online
In order to locate the South Dakota Bankruptcy court information the citizens need to give the United States Bankruptcy Court, district of South Dakota a visit. This website provides you with three options to get your hands on a South Dakota Bankruptcy Court Record. The first way is to request for a transcript which contain a recording of a court proceeding on a CD. For this you need to call the court clerk and provide him with the case name, case number and the date of hearing. The service charge is 26 dollars which must be mailed to the clerk.
The next way to access the bankruptcy records is the PACER service center. PACER stands for Public Access to Court Electronic Records. It is an electronic public access service that allows user to obtain bankruptcy records from the Federal Appellate and the District courts through the internet. PACER allows you to search and perform a background check on a particular individual or organization by entering the case name or the case number.
The main information obtained from the PACER website includes the final verdict, the case status and a claims registry. A list of all participants including judges and attorneys and the nature of the case is also mentioned. The last way to access the records is the VCIS where the citizens are required to make a call to a toll free number on the courts website. This service is automated and provides a brief outline of the case.
The bankruptcy court of South Dakota saw a total of 97 business bankruptcy relief petitions in 2008. The South Dakota Bankruptcy Court does a praiseworthy job of providing up to date information to the citizens of South Dakota. This information if used regularly and wisely can go a long way in protecting your personal credit. A proper background check, especially within the state of South Dakota, needs to be accompanied by a regulatory check of the bankruptcy records. If the check comes out clean, then the concerned person has a secure financial background.