In the early 80's I filed for bankruptcy and it was discharged. In about 1991 or so it came off my history history and I believe that took about 10 years. In around 2005 I applied for a credit card. The application stated " do you have a bankruptcy in your credit history?. . I assume the question referred to a 10 year period and answered no. I had no bankruptcies on my credit report. Was this fraudulent. I received the credit card and have made payments on it for 6 years now. Could this ever come back to haunt me if I should decide to file for another bankrutcy or just stop paying them?
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I think it was Fraudulent. I Dont think it will haunt you as long as you dont tell them that. I would bet my house they dont have your original application to proove that. Dont worry. -
I asked a bankruptcy attorney this very question. She said not to lose any sleep over it. She said the main problems with credit card applications was inflating of one's salary. Not by a small amount but by alot. I did all of my applications on line and was wondering how long they keep those applications? Forever?Comment
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Hi Dylan,
Do you still have a copy of the application? The exact wording becomes very important here. For example, a standard mortgage application has a list of declarations, one of which is "Have you filed bankruptcy in the last 7 years". If the question specicially states "Do you have a bankruptcy in your credit history" one could argue that since it's past the date of reporting, it is no longer in your "credit history". If it simply asks "have you EVER filed bankruptcy" and you listed "no", you could have a problem. However, first the creditor would have to find the application, then they would have to prove intent to defraud.
FYI - I am not an attorney and this isn't legal advice, just my opinion.Comment
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SunShineGal: The attorney said although the lender could sue me for fraud, in my particular circumstances, the odds are probably in my favor. I doubt the discrepancy would have changed its decision to give you a credit card. And to top it off, you made payments for several years; so although you may have committed a technical fraud, the lender probably has not suffered any quantifiable damages as a result.Comment
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