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So Why Does Facebook Matter to Your Bankruptcy?

Facebook is a window into your personal life. A Bankruptcy Trustee, after filing bankruptcy, has the right and ability to look into that window.

When you file a bankruptcy you are required to disclose your assets and other important acts within certain time periods. If you fail to disclose the required information in your bankruptcy petition then you are committing a federal crime of perjury. You could face jail time and be fined large sums of money. Do I have your attention yet?

More and more bankruptcy Trustees are looking up debtors’ (people who file bankruptcy) social media accounts. It is so quick and easy to pull up information on social medias, it has become a logical part of the due diligence research that a Trustee’s office will complete. It will not make sense to the Trustee if you don’t list a 28 foot Four Winns outboard, if he sees lots of pictures of you on the lake with the boat. Disclose all assets to your attorney, most of the time that can be legally exempted.


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