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Bankruptcy Credit Card Fraud
Nicholas Said:When you go through a bankruptcy with credit card holders at what point do have to stop using the cards?
We Answered:Sorry to hear about it.
I have answered thus question many times in detail, but I have some 1800 answers to sort through.
I'll give you the bottom line.
1. Go see several BK attorney. The ones that have a free initial consultation.
There are a lot of things you can do, I don't make those options avail by post.
Anne Said:Im filing for bankruptcy. Is it fraud if I spend the rest of they credit that I have in credit availble?
We Answered:Yes it is fraud, and you could get in trouble if you do it. However, $200 is not a large amount and probably won't be noticed unless you file right after you spend it. You really should have at least a good three months between any credit purchase and a bankruptcy filing. Much longer if it's a big purchase.
Basically what I'm saying is, if you charge an $1000 on your credit card for a diamond or tv set right before you declare bankruptcy, they're going to notice. However, if you go charge $200 worth of groceries three months before you file, they won't say a thing.
Troy Said:Help in connection with possible credit card application fraud please!?
We Answered:I have seen a number of elderly individuals lately who are attempting to make payments on large credit card debt from very meager cash flow, usually just Social Security. These people want desperately to pay their debts it is neither possible to pay them off, nor wise to make the sacrifices to do so.
Too many of our elderly are enduring continuing stress and scrimping on food, medical treatment, and emergency cash reserves in an attempt to honor their values about repaying their debts. In the case of credit cards and credit card interest rates, paying off this debt on retirement income is simply not feasible.
Debt ridden elders frequently are judgment proof: everything they have is protected by an exemption such that even a creditor with a judgment can't take anything from them. Nonetheless, the worry and stress that debt accumulation causes is unhealthy.
Family and other care givers and professionals supporting the elderly should be alert for evidence of unmanageable consumer debt, and encourage the elderly to get legal advice on whether bankruptcy is appropriate for them. Elders are perhaps the one group who benefited by the recent changes in bankruptcy law.
As to the concern regarding the "false income" I wouldn't worry too much about that, look at all those people who are now loosing their homes because they were told to pump up their income figures and the mortgage people didn't even bother to verify the info.
Hope this helps
LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.
Charlene Said:I owe 1/2 my yearly income due to unemployment and 1/4 from credit fraud. Should I just declare bankruptcy?
We Answered:Sounds like you need a lawyer and start fighting back. If the credit card was issued fraudulently, you do not owe them anything. Stop paying them. Get to know the 1977 Fair Debt Collection Practices Act. If they cannot prove that you owe the debt, they cannot collect it. But you need to do your part. File a police report, file a fraud alert with all 3 credit bureaus, do everything in your power to prove that the credit card was issued by way of identity theft. Fight back against the credit card company. It's not a legitimate debt.
Christina Said:I have to keep using my credit cards until I file for bankruptcy, is this a fraud?
We Answered:I have not heard that. I was bankrupt a few years ago and I think I used my cards up until I filed. You are able to explain the reasons for it and so dont think it should be a problem. Best bet is to contact the court and ask the question just in case. Probably a good idea to try and cut down using them if at all possible.
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