Will it be fradulent activity

October 13th, 2008 by Questions

Hi:

I am going for bankruptcy. Two years back I drew around 15,000 dollar cash from different credit cards in relatively short period of time (within one month) in a desperate situation and left country. One of the card was opened a month before this incident. I paid two/three installments partially after that. However, I could not continue and stopped payment. I have recently returned to Canada and filling Bankruptcy.

Is my activity of drawing money from credit card will be caonsidered fradulent activity?

Thanks.

Posted from: Ontario

Posted from: Ontario

Questions

One Response to “Will it be fradulent activity”


, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

It is difficult to determine if this is fraudulent or not. The key with fraud it is always comes down to intent. Did you intend to not pay back the creditors, if this can be proven then the transactions may be considered fraudulent.

While it is difficult to determine this based on the information you provided I don’t think you would have a huge risk. But I would recommend you sit down with a local trustee and discuss this in more detail.

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