I am in financial straits. If I transfer a high interest credit card balance to a 0% interest card to help my situation with lower payments, and with in a few months default, can I be charged with fraud?
Extremely doubtful. Fraud requires them to get inside your mind and prove that you never intended to pay the lower payments. You will be sued for breach of contract for not maintaining the payments with the new credit card in civll court. In 7 years as a judge and 7 years as a prosecutor, I NEVER saw anyone prosecuted criminally for what you have described. I hope that puts your mind at ease.
The information provided in this answer does not create an attorney-client relationship. If you are interested in his legal services, feel free to call Chris at (303) 409-7635 at his law office in the Denver Tech Center. All initial consultations are free of charge.
I agree-extremely doubtful.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
Credit fraud requires showing that you had no intent to pay at the time you made the purchase (or in this case transfer). If you actually have no intent to pay the debt then it shouldn't matter to you what the interest rate is and so taking steps to lower your interest rate is actually some evidence that you are not committing fraud.
On the other hand, if you file bankruptcy soon after a large balance transfer (particularly if within 90 days) then the credit card issuer may challenge the dischargability of the debt. However, you will still prevail if your attorney explains that the charge was simply a balance transfer.
You can reach Harkess & Salter LLC at (303) 531-5380 or info@Harkess-Salter.com. Stephen Harkess is an attorney licensed in the state and federal courts of Colorado. This answer is for general information only and does not create an attorney client relationship between Stephen Harkess or Harkess & Salter LLC and any person. You should schedule a consultation with an attorney to discuss the specifics of your legal issues.