Reportedly 700 million videos are uploaded to TikTok each month. Much of what goes on the platform is designed to document a good time or get a laugh from the site’s users. However, there are millions of instructional and explanatory videos as well, on practically every subject. As many people rely increasingly on TikTok and similar social media platforms to get their information, it is critical to understand the difference between a credentialed professional and someone simply looking to boost their views.
Over the past few years, several self-proclaimed financial advisors have created popular videos championing bankruptcy as a tool for financial empowerment. In many cases, bankruptcy is the best option for individuals and businesses facing serious debt problems. However, the decision to seek this type of relief should only be done after consulting with a qualified bankruptcy attorney. There are several reasons why videos uploaded by non-professionals should be treated as entertainment, not reliable information, including:
- Questionable credentials — All anyone needs to go on TikTok and portray themselves as a bankruptcy expert is a smartphone and working Wi-Fi connection. Slick graphics and catchy effects are not a substitute for authentic knowledge and experience in this complex area of law.
- Non-specific guidance — Whether you’re considering a personal or business bankruptcy, your decision should be based on your specific situation. Even well-intentioned advice can be very harmful if it is not tailored to the particular circumstances.
- Views, not solutions — The primary motive of many TikTok content creators is to garner views and likes, rather than to provide accurate, responsible counsel. Usually, metrics and clout rise by telling users what they want to hear. A common theme in many clips prepared by amateurs is that bankruptcy is a tool for financial empowerment used by wealthy people every eight years or so to wipe out all of their debts. While destigmatizing bankruptcy is important, these videos often fail to explain the steps in the legal process and the effects of pursuing this form of debt relief.
- Lack of accountability — Unlike licensed attorneys and financial advisors, a person online claiming to be an expert can provide false information with impunity. You might not even be able to leave a negative comment after being harmed by what someone on TikTok said.
Filing for bankruptcy might make a positive difference for you, but without a thorough understanding of the applicable laws and how they affect your particular situation, you cannot evaluate your options thoughtfully. Speaking with a qualified attorney is easier than you think and will give you the information you need to protect yourself.
Jeff Field & Associates offers personalized legal counsel to Georgia residents in all types of bankruptcy proceedings. Please call 404-381-1278 or contact us online to schedule a consultation. Our offices are in Douglasville, Gainesville, Bogart, Lawrenceville, Marietta and Decatur.