dilemma
I have been making payments for over almost two years on all my loans. I have decided to go for bankruptcy. My income at the time of signing up for loan agreements was shown very high. And I have been working at a job with low wages for a little more than a year now. My question is – can this be looked upon as fraud? Even though I have meant to pay all my loans back but circumstances are such that I am barely managing any of them at this point.
The part of your question that gives me some concern is where you say “at the the time of signing up for loan arrangements was shown very high”.
If your income was very high, you have nothing to worry about. If your income was not (you lied on your application) then you may have a problem.
I suggest you use the links on this page to find a trustee in your area to discuss your options – if you are able, you may want to try a proposal instead of bankruptcy. In that way you will repay a portion of the debt and your creditors are less likely to look back at your loan application…