jail

[jewelz]

can i go to jail if i claim bankrupt i ow one bank 20,000 and a nother 2,000 and catalogues totaling 3,500 i am going through bankrupcy with my solisitor but im scared i could go to jail ?

[andy hughes]

You are highly unlikely to go to jail for filing for bankruptcy. Filing for bankruptcy is a solution to spiralling debt, and obviously you are taking legal advice. You must be completely honest with your solicitor, and don't hide any information about your debts and financial dealings - bankruptcy is not a crime - fraud is! If you tell the truth, and eal honestly with everyone involved, jail will not be a concern for you.

[Maude]

If you filled in forms with false information to obtain all or any part of the �25500 this is a crime. The bank owed �20000 will certainly report you for criminal prosecution if you have been less than absolutely truthful with them, it is their legal duty to do so - the penalties for them are very severe if they do not. The sums you are involved in place this in the major crimes bracket. If you plead guilty and have no previous expect a custodial of 12 months, with previous not less than 18 months. If you plead not guilty and are found guilty add not less than 6 months to the foregoing.

[Greedyfly]

Isn't it ironic that when you file bankruptcy you have to pay to become bankrupt?!

[Michael H]

the onus is also upon the lender to verify all information given in the application. This does not happen in practice and as a result often leaves the prosecution in a fraud case with a weaker case. This is why only the most blatant cases ie. using false names/ addresses /stolen or forged documents etc are ever of any interest to the police.