When an individual files for bankruptcy in New York State, it is important that they take a few precautions in their everyday life as to not have any negative impacts on the outcome of the bankruptcy case. One of the things that an individual needs to be cautious about during bankruptcy is their social media presence, whether it is what the person themselves is posting or what their friends are posting about them.
Social media may be monitored as part of the bankruptcy proceedings in an effort to prevent any bankruptcy fraud from happening. Therefore, it is best not to overshare when in the midst of a bankruptcy. A few things that an individual may want to avoid posting on their social media include the following:
- Any discussion or photos of a vacation
- Posts about employment, promotions, or pay raises
- Gifts purchased for anyone, especially around the holidays
- A new car
- Dinner at an expensive restaurant
Of course, this is just a few of many examples of what should be avoided. The bottom line is that an individual who has filed for bankruptcy should not give any indication that they are withholding information, have access to additional funds, hasn’t disclosed all assets, or anything else that could give off the impression of bankruptcy fraud. If bankruptcy fraud is suspected, investigators may have to take a deeper look into the case and this may ultimately put an end to all bankruptcy proceedings. In fact, bankruptcy fraud is a felony that can result in serious fines and jail time.
If you are thinking about bankruptcy, it is important to discuss your situation with an experienced bankruptcy attorney.
If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options.