Re: Is bouncing a balance transfer check a crime

Posted by Lee N. on October 17, 2000 at 03:42:35:

In Reply to: Re: Is bouncing a balance transfer check a crime posted by CardReport.Com Webmaster on October 17, 2000 at 03:38:49:

: In regards to your reply, I appreciate your prompt
and thorough explanation. However I would like
to find out since I have no assets for the
creditors to take, what are the consequences if
I don't file a bankruptcy and I start having a
job with a good pay. How would they go about
that and what will they do to collect.

Bouncing balance tranfer 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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