I claimed more income than I actually make, now I am considering ch 7. Does anyone know what may happen, or does anyone actually care that I misrepresnted my income? Thanks My2kgt
Depends on who you owe and how long it's been since you got the loan and, how much of a "fudge factor" is involved. Just impossible to say without some specifics. I will say if it's just routine cc issuses and maybe an auto loan, and no creditors show up at the 341 meeting then, you should be ok.
Do you mean you claimed a higher income than what you truly made, received higher credit lines (that you clearly couldn't afford), ran them up, and now can't pay for them? Ignorance is one thing, stupidity is another. Dani
As I recall, he was considering bankruptcy to ward off a car repo, and then possible subsequent paycheck garnishment. Not that I'm trying to excuse income misrepresentation, but I don't recall his situation being all THAT sordid. My2KGT: Has your situation changed dramatically since December? As I recall, other than the possible repo, I didn't think things looked too bad for ya. And, even with the repo, I don't recall anything that warranted Bankruptcy. Anyway, to answer your question though, I find it hard to believe that anyone would go to the trouble of actually verifying your income at the time of your application in order to pursue legal action. Too much work involved, I'd say. Besides, most HR departments won't disclose this information to the creditors, and I don't think the Bankruptcy court will actually list your income at the time of your application for the various cards so they may never actually find out anyway. -- cnswift TU: 581 - EXP: 624 - EFX: 619
If there was any type of fraud involved you could do a chapter 13. Read up on some law sites like Nolo.com.
