While Facebook is in the news due to the rise of employers demanding Facebook passwords to view Facebook accounts, your social media profile work against your financial goals as well. Your social media profile can mess up your bankruptcy as well as your marriage. Let’s look at how the social media sphere intersects with the financial sphere and how they intersect. Debt collectors are trolling social media websites to find contact information for debtors. You may have moved in with Mom without updating your mailing address or forwarding mail to a Post Office box, but debt collectors can find you through your social media profile. Updates online with a new phone number can quickly lead to new contacts from debt collectors as well.

Did you get a new job? It is common to immediately post this as an update to the world. Are you discussing a second job with your friends? Did you get a raise? Your good news can become bankruptcy fraud if you do not update your bankruptcy petition to reflect your new household income.What does someone see when they look at pictures on your social media profile? Are you fishing on “your” boat? Are you staying at “your” vacation house? Creditors can rightfully ask whose property it is and whether you own even a part of it that can then become liable for your debts.Do your profile updates reflect the activities of someone who is on a tight repayment plan or who lost everything? Are you filing for bankruptcy while listing exotic trips in your recent activities? Are you bragging about buying a new car while stating that you cannot make your house payment? This information can be used to accuse you of bankruptcy fraud, running up debts on frivolous things prior to declaring bankruptcy.

Are you a generous giver? In most circumstances, this is a good thing. However, if you are going through bankruptcy, you shouldn’t have anything to give away without the court’s permission. For example, personal property such as wedding rings below a specific value can be kept in bankruptcy. Yet a mother who gives a daughter an heirloom wedding ring and brags about its significant value may have given creditors the means to question its valuation from the bankruptcy and then seize it. If you are giving fishing gear to your brother or furniture to your child going off to school, you may be seen as shielding assets from the bankruptcy. Speak with a Hawaii bankruptcy attorney if faced with allegations of hiding assets or creditors challenging your bankruptcy petition.Has your family status changed and you neglected to inform the courts?

Repayment plans are based on both personal incomes and family size. If your child has finished school and joined the military, the court will assume that you now have more money available each month to pay back your bills. Hiding this information can be interpreted as bankruptcy fraud. Conversely, having had a new baby and have not amended your bankruptcy petition, you are living on a tighter budget than necessary and should speak with a Honolulu bankruptcy lawyer to amend the petition and adjust the payment plan.