Giving false info to cc over phone for update of info

[johny]

Hi,

Last month I wanted to take upon a balance transfer offer so i called my cc bofa. They asked for my current salary info and then tthey cut my credit limit to the amt i owe saying that my debt to income ratio was high. During this process the info i gave them over the phone abt my income was was not correct. Now if i file chapter 7 is the salary info i gave over the phone a reason for them to contest as fraud.

[shabam]

It can be. Did they approve the balance transfer once you gave them the info?

[johny]

No i was not given the balance transfer...instead they cut my credit limit to the amt due on the card.......

thx

[shabam]

No i was not given the balance transfer...instead they cut my credit limit to the amt due on the card.......

thx

Once you file, they are easily able to see your actual income, as you must list it on your petition. Since you did not obtain or use any new credit based on this info, you would not have an issue. If they had approved the BT, they then could turn around and pin it on you.

If you are about to file, I would not be making any balance transfers.

[johny]

Thx shabam ...finally some piece of mind... i have stopped using credit cards about six months back..and have been current on thier payments.

[ready2puke]

Good info as I also have fudged over the phone with cc's on my income to get credit. That was over 1.5 years ago..Havent' used a cc since June '08. I was also worried about the fraud thing. Most of them were new cc's with 0% to fully pay off other cc's that their 0% was expiring...oh the shell game...so glad I play anymore.
I'm assuming that since so much time has passed when I do file I shouldn't worry, right??

[backtoschool]

Hi,

Last month I wanted to take upon a balance transfer offer so i called my cc bofa. They asked for my current salary info and then tthey cut my credit limit to the amt i owe saying that my debt to income ratio was high. During this process the info i gave them over the phone abt my income was was not correct. Now if i file chapter 7 is the salary info i gave over the phone a reason for them to contest as fraud.

Yes. They can file and AP to keep the debt from being discharged, especially if you file within the next six months or so. The longer you wait to file, the less likely it is that they will contest the debt.

[AngelinaCat]

Johny and r2p, I think you are both in the clear. Since you really have not obtained new credit and have not used the cards in many months, I really don't think you have anything to worry about.

And how many times when applying for something over the phone, or the Internet for that matter, do you have your pay stubs and income tax returns in front of you to refer to? Usually, it is a 'guesstimate' as to what the salary is.

Now if these applications had been made and the cards used in the month or two of filing BK, especially for big ticket items or transfer, then you would possibly have cause to worry.

Good luck to you both.

[SURV69]

It seems obvious to me(an assumption), that the information you gave them was lower than actual

was the mis-information given for fraudulent reasons or were you just screwing with their head?

were you under oath?

were you given time and opportunity to be certain of your answer?

I can't imagine it being an issue . . . after all, evidently the only one who benefited from the information must've been the bank since they dropped your limit. I don't see how you expected to benefit.

[johny]

No it was way higher than actual....there was no oath or anything like that ...he just said that he wanted to update my info and make it current

[SURV69]

well . . . obviously the guy didn't believe you and he most certainly didn't adjust your credit based on that information.

SO, I don't see where the company was harmed or where you benefitted.

As far as the amount, I don't know if you just threw a number out of frustration or if you intended to defraud he person.

If you intended to defraud the compay, it appears to not have worked, therefore, I'd say you didn't defraud anyone.

[Chowder]

Hi,

Last month I wanted to take upon a balance transfer offer so i called my cc bofa. They asked for my current salary info and then tthey cut my credit limit to the amt i owe saying that my debt to income ratio was high. During this process the info i gave them over the phone abt my income was was not correct. Now if i file chapter 7 is the salary info i gave over the phone a reason for them to contest as fraud.

This quote from HHM sums up this subject....
"Objections based on misrepresented income are rare, (I am talking dodo bird rare...fyi, the dodo bird is extinct). Ususally, if the creditor is going to object, they will do so on more solid grounds, and then throw in the misrepresented income."

[SURV69]

That might be so but it appears the "mis-represented" salary didn't enhance her level of credit or cause her indebtedness to them to increase.

I don't think a fraud occurs until someone suffers a loss or damage and too, consider the fact that she wasn't under oath or asked to sign a document indicating the veracity of the statement.

People lie(a bad thing to do)for many reasons and seldom with an intent to actually defraud somone else.

If their representative brought this up(in the creditor's meeting), I'm sure he'd look rather petty and get no pitty.

[shabam]

The only time they would go after someone solely based on income is if they asked for physical proof of your income and you fudged the paperwork. Then again, that is fraud, so an AP would be the least of your worries.

You guys have nothing to worry about.

[shabam]

Good info as I also have fudged over the phone with cc's on my income to get credit. That was over 1.5 years ago..Havent' used a cc since June '08. I was also worried about the fraud thing. Most of them were new cc's with 0% to fully pay off other cc's that their 0% was expiring...oh the shell game...so glad I play anymore.
I'm assuming that since so much time has passed when I do file I shouldn't worry, right??

There is always a small risk but realistically, a bank would pursue someone if they had a range of reasons. If you haven't used a cc since 08 and made a range of payments, they would be very hard pressed to claim fraud.

In this economy when hundreds of people are filing daily, they realistically do not have the time to thoroughly check everyone's account beyond obvious red flags.