A couple of years ago, I bought a home and the mortgage broker I used filled out false information on the loan application. He said he was doing this to get me approved and get me a better rate since I didn't have the documentation to satisfy the lender's requirements. I signed the documents.
Well we ended up getting the loan but have since had some financial trouble which will require us to file for Chapter 7 bankrupcty and now I'm worried about the consequences of providing that false information during the application process.
Will that come back to bite me? Is this going to be an issue during the bankruptcy process? Will the Bankrupcy Trustee take a closer look into this? Is there a potential for me to get into trouble for this? If there is, what kind of trouble?
Or will the Bankruptcy Trustee not even notice or care?
Thanks in advance everybody.
2007-01-22 21:22:45 · 4 answers · asked by Carins U 1 in Business & Finance ➔ Personal Finance
I don't think you can get Chapter 7.... only Chapter 13....and they will take all of your assets to pay your debts.
2007-01-22 21:28:24 · answer #1 · answered by notsure 2 · 0⤊ 1⤋
You signed ...100% your fault. And the fact that your are trying to borrow more money when your are technically bankrupt is totally illegal.
No need to worry to much unless a FRAUD conviction , obtaining money by deception , forging and uttering and making a false statement concern you.You wonnt be totally alone , you conspiritor who assessed your loan and doctored your documents will be sharing a cell with you , unlees he plee bargains freedom for his testimony against you.
You are meant to divulge all your financials to the trustee, he is your ally against your creditors . He was the very last hope you had in this world for protection from those about to destroy you.The courts will have no mercy on you,
The bankruptcy trustee will climb all over you when he finds out and you will be looking at time.Serious time possibly 10 years, FRAUD and UTTERING is treated worst than murder in many states.
There is a really good chance that when the trustte finds out he will sell all your assets as well and put your family out on the street.not to mention that you will probably never get credit again.
You are about to discover a world of pain beyond your comprehension.
I dont not what drove you whteher it was greed or desperation but youn will soon feel a great deal of hurt and your life is about to change big time.
2007-01-23 05:34:43 · answer #2 · answered by Anonymous · 2⤊ 1⤋
Yes it is rather likely that this will come and bite you on the bum.;
2007-01-23 05:31:15 · answer #3 · answered by cailieco 3 · 1⤊ 0⤋
Well, you surely deserve to be penalized.
2007-01-23 05:32:55 · answer #4 · answered by manuarastar 7 · 1⤊ 0⤋