Personal Bankruptcy !
October 3rd, 2005 by Questions
A year ago my spouse used fake job letters inflating his income to secure personal lines of credit from various banks. He has a good credit history and have been making regular payments since then. But now we lost lots of money in risky business ventures. Therefore, he is thinking of declaring bankruptcy soon. I am worried that during the bankruptcy proceedings the creditors (banks) might take him to account for securing personal lines of credit using false/misleading job information. Is there a possibility that he might be convicted for this offence ?
One Response to “Personal Bankruptcy !”
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October 05, 2005 at 3:54 pm, A licensed trustee said:
There most definitely is – your husband should seek legal advice about his situation before he even considers filing bankruptcy. Once bankruptcy has started very specific rules kick in and your husband could find himself in some very hot water.