Social Media Effects on a Bankruptcy

Social Media Effects on a Bankruptcy

Filing for bankruptcy is a very significant legal matter and should be taken very seriously. When an individual does file for bankruptcy, it is important that they make themselves aware of the ways that social media can impact their case. Unfortunately, people feel as though they are able to post freely on social media and while technically they can, it is important to be significantly more reserved about the posts that are made during a bankruptcy.

In some cases, an individual’s social media profiles may be monitored during bankruptcy proceedings in order to keep track of any signs of bankruptcy fraud. Some of the types of social media posts that can raise red flags during a bankruptcy include anything that can indicate the individual has access to additional funds, such as:

  • Text or images about a vacation
  • Any posts regarding one’s employment, job promotions, or a pay raise
  • Purchasing gifts for loved ones
  • A new vehicle, regardless of whether it is actually new or used
  • Dining at expensive restaurants

It is also a good idea not to post anything related to the bankruptcy case, the creditors, or anyone else involved on social media because while that may not indicate bankruptcy fraud, it may have other impacts on the case. If bankruptcy fraud is suspected it may result in further investigation. This is a very serious matter because bankruptcy fraud is a felony that can result in significant fines and imprisonment.

If you have questions about filing for bankruptcy in New York, contact our firm today.

Matters related to bankruptcy and estate planning are very significant in one’s life and require the services of an experienced attorney. Our firm proudly serves clients throughout Rockland County and New York State. If you need effective legal guidance, contact Koplen Law today to schedule a consultation.