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Bankruptcy overstated income can I go to jail???

Brockton, MA |

Looking at the type of things a credit card co can claim, I am worried they might say I overstated my income.

I know at the time I probably used accounts receivable in part to justify what I expected my revenue and income
to be in the year I applied but I have lost the paperwork. I was disorganized and have no idea in part
who owes me money. Can I go to jail if I cant prove how I justified my stated income?

Please help me!

Attorney Answers 4

  1. If you do, you'll probably be the first one anyone ever heard of.

  2. We do not have enough information to answer your question. Details are key. If you overstated your income on a one page form by $10 to get a $100 credit card that the balance built up slowly over two years, you have nothing to worry about. On the other hand, if you overstated your income on a multi page form signed under oath by $100,00 to get $200,000 credit card that you used in two days, then there may be a problem.

    The fact that you have checked off fraud and income tax says to me you have a complicated case. Law is an art and the way to handle the situation depends on the style of the attorney. I have dealt with situations like yours and have been able to help people.

  3. In actions by Creditors to exclude a debt from exemption in bankruptcy, several things matter, including,
    1. the total amount of the debt
    2. How long ago the debt was created, &
    3. whether--& how many-- payments were made after the debt was incurred.

  4. You need to call your attorney up and go see that attorney with this questions. If you committed fraud then this is a bankruptcy crimes, normally you have to have a mens rea or intent to get into trouble.