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Be Careful Using Social Media During Bankruptcy

Social media is all about sharing: whether it’s what you ate for dinner, a cute photo of your dog, or a video of your young child taking their first steps, we share our thoughts, feelings, and emotions with the world. Unfortunately, this habit of sharing can go too far and actually put you in a bad situation, especially if you’re involved in a legal issue like declaring bankruptcy.

Beware Bankruptcy Investigators

Bankruptcy investigators are tasked with a monumental responsibility: prevent bankruptcy fraud. To do so, they thoroughly examine everyone who has petitioned for bankruptcy to try and find any evidence that might suggest they are withholding information, lying about their situation, failing to disclose access, and many other practices that are both illegal and unfair in a bankruptcy case.

In many cases, a bankruptcy investigator will keep a close eye on your social media accounts to look for evidence of bankruptcy fraud. That selfie of you and your significant other at a fancy restaurant while you’re in the middle of bankruptcy is more than likely going to tip off your investigator that you have access to money that you’re not telling them about, and they’ll investigate further. A picture of an expensive piece of jewelry that you bought them as a holiday gift? That may launch an investigation into why that particular piece of jewelry isn’t listed in your disclosed assets. Even posts regarding your employment, such as sharing about that promotion and raise that you recently received can all have negative ramifications on your case, and you essentially told the bankruptcy investigator about it by sharing it with the world.

Social Media Best Practices

There’s one extremely important philosophy you need to keep in mind when using social media: no matter how private you have your accounts, anything you share should not be considered private, and can be used against you in a legal matter. Bankruptcy investigators can and will find a way to gain access to your posts and information, and they’ll keep a close eye on it for the duration of your case, as well as some time after.

The best practice to partake in with your bankruptcy case is to simply shut down your accounts and go dormant on social media for a little while until your issue has completed. However, if that’s not an option ask yourself an important question before hitting the “submit” button on a post: “What is the absolute worst thing this post can do to my case?” If the answer to that question harms your case in any way, don’t share that post. Being extra careful what you say, especially online, can help you get through the bankruptcy process sooner and with fewer discrepancies and difficulties.

Consult with a Myrtle Beach bankruptcy attorney today! Call Lam Law, LLC at (843) 695-7700.

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