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Fraud scare but no criminal intent .

I have a credit line that I took out 9 months ago .It was pre-approved and the only thing that I needed to do was to was sign the agreement and guarantee that I had an income over 2000 a month
.I did at the time , I was a house keeper/child care .The couple I worked for were both lawyers.They told me that they would pay me cash and not bother making it official (collecting tax,Canada pension etc).Then the couple had to move out of the province and I didn’t want to go with them .I am now facing bankruptcy .I lost my job and now I have no income.I had no intention at the time to take the money from the credit line and then go bankrupt.My new circumstances put me into the position that I have to go bankrupt.I am still paying this one bill and not my others. I made 10 payments before I lost my job.I am borrowing the money to pay from my relatives. When I do declare bankruptcy ,will the credit line people think I defrauded them .

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One Response to “Fraud scare but no criminal intent .”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

I would not expect the creditors would look at this as fraudulently done, in reality it makes no difference what you did with and you demonstrated good faith by continuing with the payments for as long as you did.

However, this is an important issue to disclose to your trustee prior to filing for bankruptcy. I suggest you contact a licensed trustee in your area, be sure to provide them with any documentation relating to matter and he will be able to walk you through what you can expect in much greater detail.