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Why bankruptcy filers should stay off of social media 

On Behalf of | Oct 18, 2023 | Bankruptcy Exemptions

Filing for bankruptcy is a decision that few people approach lightly. Those seeking this kind of debt relief are generally weathering very challenging circumstances and may simultaneously be in need of a great deal of social support. While it might be tempting to share one’s experiences or seek support online, individuals who are filing for bankruptcy should think twice before divulging details of their circumstances on social media. 

While many people understandably believe that by setting their profiles to ‘private,’ they’ll remain safe from scrutiny during the bankruptcy process, there are many ways that creditors or court officials could access an individual’s circumstances on any public social media platform. As a result, although it can be very difficult to exercise restraint when online, it’s important to do so until one’s bankruptcy case is resolved. 

Things to keep in mind

If you’re filing for bankruptcy and you’re tempted to “post as usual” without any regard for how this approach could impact your case, keep in mind that social media has a knack for portraying an enhanced reality. Photos from a past vacation or a recent birthday celebration can create a perceived lifestyle that may seem at odds with your claim of financial hardship. They can be taken out of context and used to question the authenticity of your bankruptcy filing.

Additionally, any post flaunting a new purchase or even a gift can raise eyebrows. If trustees or creditors believe you are hiding assets, it can complicate your bankruptcy case.

While it’s natural to seek validation, support or an outlet for expression on social media, the bankruptcy process requires discretion. The road to financial recovery can be complicated, and what you share on social media can unintentionally place roadblocks on this path. Just remember that your financial and emotional peace is worth exercising a little restraint in this regard.