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Don’t Let Social Media Ruin Your Bankruptcy Case!

On Behalf of | Apr 7, 2019 | Bankruptcy Basics

Social media sites such as Instagram, Facebook and Twitter keep getting more popular. These sites have impacted many aspects of society, including the practice of law. While social media sites offer people a chance to connect with friends and family across distances, many people share a lot of personal information online.

Full disclosure on your bankruptcy petition

When you file for bankruptcy, you are required to truthfully list all of your income, assets and debts. You are obligated to be honest and fill out the petition fully and completely.  If the information on the petition is false or incomplete, there could be serious consequences including the dismissal of your petition or your inability to discharge (eliminate) your debts in bankruptcy.  In addition, there could be even greater problems if the court determines that you lied in your petition or failed to fully disclose information.

Common social media errors

In the age of social media, your creditors and bankruptcy trustee may look at your social media sites to determine if there are pictures of assets that you failed to report or evidence of income, such as from a second job that you did not disclose. Therefore, be certain to be very thorough and provide your bankruptcy attorney with accurate and complete information and be careful what you post. Further, please be sure to review all social media sites to make certain that you have not forgotten to disclose any assets or other required information.

Failing to be truthful on your petition can seriously impair your ability to obtain bankruptcy relief. If you file bankruptcy, the purchases that you make within three months of filing the petition come under especially heavy scrutiny. Although credit card debt is typically dischargeable, an important exception to this rule is luxury goods and services purchased within 90 days of the filing. If a creditor or trustee finds photos of you enjoying a vacation, expensive dinners or shopping sprees during this time, it can create difficulties with your bankruptcy, possibly resulting in a denial of discharge for some or all of your debt, meaning that you will have to pay it back.

Not being truthful about your income can also hurt your Chapter 13 case. In a Chapter 13 bankruptcy, you will be on a payment plan where, depending on the individual circumstances, you will repay some or all of your debts over time before you get a discharge of the balance of what you owe. Your payments are partly based on your income and you must report income changes during the bankruptcy to the bankruptcy trustee. If you share information online about a new job or a raise but do not inform the trustee, you risk facing negative consequences.

An attorney can help

To ensure a smooth bankruptcy process, it is vital that you be aware of what you are posting online and how it may be perceived by others. information. An experienced bankruptcy attorney at Levitt & Slafkes, P.C. can ensure that your petition is complete and accurate and can work to secure the debt relief that you are seeking.  Let us help you move into your brighter future. Contact us at (973) 323-2953 to schedule an appointment, or contact us online.

We are proudly designated as a debt relief agency by an Act of Congress.  We have proudly assisted consumers in filing for Bankruptcy Relief for over 30 years. The information on this website and blogs is for general information purposes only.  Nothing should be taken as legal advice for any individual case or situation.