Today we live in a culture of sharing. We share cute dog photos, negative
customer service experiences, photos from our vacation and Sunday brunch
selfies to our followers on Twitter, Instagram, and Facebook. When you
file for bankruptcy, you are required to provide information on your financial
situation. You must list any assets, income and debts accurately in order
to prevent your case from being dismissed. Likewise, your creditors will
investigate your social media accounts to search for any evidence of the
information you provided is incomplete.
What Bankruptcy Investigators are Looking For
In order to prevent bankruptcy fraud, investigators routinely comb through
the social media account of an individual filing for bankruptcy to look
for any red flags that they may not have disclosed all of their assets
and income. So, just what kind of posts are they looking for? Investigators
search for any recent posts with cars, boats, jewelry or any other physical
assets. Fancy dinners or expensive vacations would also raise red flags
and may cause an investigator to dig further into your bankruptcy claim.
Social media could also be used to indicate a change of circumstance.
For example, if you had previously filed bankruptcy under the income of
a previous job, but recently left that job for a new position with a significant
pay raise, posting about the job change could raise concerns for investigators.
Generally, investigators are looking for ways to poke holes into your
credibility using any means they can find.
What Happens When a Business Files for Bankruptcy?
If a business files for bankruptcy investigators may look into any and
all social media accounts that business uses for marketing as well as
any personal accounts of the business owners in an attempt to identify
any potential assets that could be a source for recovery claims.
Be Honest with Your Miami Bankruptcy Lawyer
If you are thinking of filing for bankruptcy in Miami, it is important
that you are completely honest with your attorney. If bankruptcy investigators
find you have lied about your assets you could be charged with fraud.
Fraud charges come with serious penalties. If you are ready to get your
finances back on track contact our
Miami bankruptcy attorney can help you today.
Ready to start building a better financial future? Call today for a
free case evaluation.