Re: Is bouncing a balance transfer check a crime

Posted by CardReport.Com Webmaster on October 17, 2000 at 03:38:49:

In Reply to: Is bouncing a balance transfer check a crime posted by Lee N. on October 17, 2000 at 03:37:01:

Bouncing balance transfer checks could certainly be
interpreted as fraud, if the cardholder had reason
to know that the credit wouldn't be available,
especially if the amounts were never paid back.
But it really seems that, if they were going to
file any kind of criminal charges, they would have
done that long ago.

And if they have charged off the accounts, and
actually sold them to outside collection agencies
(as opposed to just having the agencies work the
debts on commission), they are likely to be even
less interested by now.

Many, or even most bankruptcies have signs of
"load-up," meaning that the debtor deliberately ran
up at least some debt with the intention of discharging
those amounts.

But if you have no assets for the creditors to take,
and they haven't filed any lawsuits, why would you
declare bankruptcy, anyway?

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