2007-03-09 12:05:15 · 3 answers · asked by Willie C 1 in Business & Finance ➔ Credit
No, it's fraud only if, at the time of the loan, you had no intention of paying it back.
2007-03-09 12:10:03 · answer #1 · answered by Smokin' Dragon 4 · 0⤊ 0⤋
You have a contract to pay any money or credit back or become liable however fraud carries a serious charge behind it. I dont think it could be viewed as fraud unless the intent when borrowing the money can be proven under false pretense would be noted as fraud. Like lied by using a wrong name or never had intent of paying it back and used false documents and information to obtain trust appearing to be legal all in the name of defraud. I can see if it would be if you did not have a job and said you did and had other accounts or debts proven to be a track record to defraud with checks pay day loan co etc......
2007-03-09 12:22:23 · answer #2 · answered by tressroy 3 · 1⤊ 0⤋
No, unless you obtained the loan by fraudlent means. Then you will get a charge. The ability to not repay a debt is not fraud when it was determined in the beginning that you could pay it back when it was issued to you.
2007-03-09 12:13:43 · answer #3 · answered by bajllc 2 · 0⤊ 0⤋