I know for a fact that someone I know is maxing out all thier credit sources and then they are going to claim bankruptcy so they don't have to pay any of it back. I need to report this person fast. They are spending like crazy.
2007-08-01 06:46:13 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes it is a crime once they file. Until then there is nothing wrong(legally) with them doing that.
Now once they file you can report them. The link below is to the Department of Justice and who you need to report it to. The more information you know the better.
2007-08-01 07:32:51 · answer #1 · answered by OC1999 7 · 0⤊ 0⤋
I'm pretty sure the new bankruptcy laws are in effect. A judge can look at what this person is doing and they can still be repaying something. Every situation I'm sure is different, but this could be a costly bout of irresponsibility.
And knowing this person's behavior to try to deceive the system, in the future, will their credit report show any of this to a lender? Would you give a mortgage loan for $150,000 to a person who behaves like this? Maybe at 15% interest when everyone else is at 7%. Do they want to incur those costs the rest of their life?
Maybe warn them to look into this a bit. I doubt it's smart. The big screen is probably going back.
2007-08-01 13:54:34 · answer #2 · answered by Rob S 3 · 1⤊ 0⤋
No One to report this too. it is not a crime
and is not fraud because they have not filed.
Rest assured, the trustee of the court mails EVERY creditor the borrower owes and the credit can dispute the spending of the borrower as fraudulent - high activity JUST before filing. The trustee can force sanctions on the claimant - nothing serious but they may have to repay a higher percentage.
2007-08-01 13:53:08 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It won't work. The bankruptcy trustee will see this and could deny the bankruptcy petition.
2007-08-01 14:25:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋
talk to the creditor or call a lawyer but if you know this person and they are not using company credit cards or someone else stuff like that. they can do it
2007-08-01 14:16:06 · answer #5 · answered by nick 2 · 0⤊ 0⤋
don't worry, under the new guidelines for bankruptcy, they won't discharge the debt anymore, they set up payments and make you pay it off over the next several years.
2007-08-01 13:53:46 · answer #6 · answered by randy 7 · 2⤊ 0⤋
I would call the individuals themsevles....and ask them to buy me something nice...:-)
2007-08-01 13:53:53 · answer #7 · answered by Cheese 4 · 0⤊ 0⤋