For many of us, sharing things on social media platforms like Facebook, Twitter, and Pinterest is second nature. Trying a new recipe? Pin the outcome. At a live event? Tweet an update to your followers. Child or pet do something utterly adorable? Share a hastily snapped photo on Facebook. Plenty of social media users don’t even think twice about what they’re sharing. Unfortunately, if you’re filing for bankruptcy, this lack of awareness of what exactly is being put out on the Internet can have a negative impact.
When you fill out a petition for bankruptcy, there is a lot of information you must include that gives the court a better look at your personal finances. If the information in that petition is incomplete or incorrect, even if by accident, you could be charged with bankruptcy fraud or have your case dismissed. You could end up in jail, paying a large fine, or being stuck with your debt. That’s why it’s very important to be honest, thorough, and careful when completing a bankruptcy petition.
One item that must be in the petition is a list of assets. Whether you’re intentionally leaving something out or don’t think of it, social media may be your undoing. A diligent bankruptcy trustee may go through your photos looking for jewelry, electronics, vehicles, and other items left off of the petition. If you’re an avid social media user, you may, quite frankly, shoot yourself in the foot.Movie Get Out (2017)Roblox HackBigo Live Beans HackYUGIOH DUEL LINKS HACKPokemon Duel HackRoblox HackPixel Gun 3d HackGrowtopia HackClash Royale Hackmy cafe recipes stories hackMobile Legends HackMobile Strike Hack
Most credit card debit is dischargeable in Chapter 7 bankruptcies. One of the exceptions is credit card purchases of luxury goods and/or services made within 90 days of filing the petition. Those photos shared on social media of lavish dinners, shopping sprees, or that Switzerland family vacation in the three months before filing for bankruptcy may leave you stuck with the bill.
If you’re going to be filing Chapter 13 bankruptcy, you’ll be making repayments to creditors over a period of time. Those payments will be based on your disposable income and could change as your income changes. If you fail to tell your bankruptcy trustee about income changes but are caught tweeting about the great raise you got at work or a new job, it’s going to be trouble. You also must disclose all sources of income. This means that if you don’t mention the couple hundred bucks you make each year selling Avon or doing lawn work, your honesty is likely to be questioned.
To avoid these issues, be completely upfront when filing your bankruptcy petition. Your lawyer should be able to help you avoid forgetting any items and ensure the petition is filled out correctly. In addition, be aware of what you’re posting online. Check your privacy settings and don’t friend or connect with individuals you don’t know.
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